Credit Karma alert

RG2015

I recently received a notification email from Credit Karma. "Your National Westminster Credit Cards account is at 30% of its 52 limit". I looked at my report and it said the same although it was now 30% of its 52.5 limit.

The details on the Credit Karma report indicate that it is actually 74.9% of £18.35.

Has anyone else had a notification like this from Credit Karma and how accurate/consistent were their figures?

boo_star

What's the actual limit?

RG2015

boo_star said:

What's the actual limit?

Apologies. The Credit Karma details are correctly shown with a figure of £13,745 which is 74.9% of £18,350.

It is only the alert this is way off the mark both with the percentage and the limit of £52,500.

boo_star

Looking at my emails, yeah, they do appear to have dropped two zeroes in my emails.

I'd ignore it if I were you.  I certainly will.

SnowTiger

RG2015 said:

boo_star said:

What's the actual limit?

Apologies. The Credit Karma details are correctly shown with a figure of £13,745 which is 74.9% of £18,350.

It is only the alert this is way off the mark both with the percentage and the limit of £52,500.

Credit Karma is an introducer/broker.  It makes money when you take out financial products via its website.

RG2015

SnowTiger said:

Credit Karma is an introducer/broker.  It makes money when you take out financial products via its website.

I don’t quite see how this relates to my question or how they are quoting vastly incorrect data that is inconsistent with their own figures for me.

nick74

The point is really that no one sees these statistics calculated by Credit Karma other than you. Whether the calculations are correct or incorrect makes no odds to anything, you can safely ignore them. The only reason CRAs send these stats and scores to people is in an attempt to sell them other services. 

SnowTiger

RG2015 said:

SnowTiger said:

Credit Karma is an introducer/broker.  It makes money when you take out financial products via its website.

I don’t quite see how this relates to my question or how they are quoting vastly incorrect data that is inconsistent with their own figures for me.

Your question(s): 'Has anyone else had a notification like this from Credit Karma and how accurate/consistent were their figures?'

Others receive similar notifications.

Credit Karma's goal is to sell you other financial products; they will over-egg their reading of your credit report to do that.

How accurate/constant are their figures?  I'd guess not very accurate.  Is £52,500 total available credit?

This is why the general advice is to look at the detail and forget about the fluffy interpretation.

https://www.creditkarma.co.uk/about-us: 

About us

Credit Karma offers you access to your credit report free for life - not just 30 days - and helps you put your credit rating to good use.

We search the market to find you some of the best credit cards and loans that fit your credit profile. And whether or not you need a new product, we’re here with tailored advice to improve your financial life.

Dandytf

I recently had one senseless Aqua alert since Credit Karma updated their website look.
Don't have the details in front of me though doesn't make any report sense.
Choosing to ignore, hopefully temp issue. 
Your NewDay Ltd (Aqua) account is at 50% of its 26.5 limit.
Is that 26.5K or Pounds!

RG2015

Thank you @SnowTiger and @nick74 , I understand the point you are making. For what it is worth my data on Credit Karma, Experian and Equifax is 100% correct. The only issue being the timing as it is always a month or two behind.

This is why the discrepancy on the £52,500 caught my attention. As regards my total credit available that is higher than this and the difference does not correspond with any combination of any of my accounts.