Credit Score farce

dinglebert

Firstly from the off, I know that credit score is a bit of a joke and lenders don't care about it anyway.  On a personal level I don't care what my credit score is.  I am in the forfunate position of now being long term debt free.  I have a single credit card which is paid off in full each month and is there for the points only.  I did however goes for years with severe debt issues, sleepless nights etc but cleared it all.   Reading back that sounds like a boast but its not meant to be.

Anyway I have Credit Karma.  I got it to the best of my memory from TSB after they had a major issue and gave anyone who wanted it free access to ensure their information wasn't being used by fraudsters.  Each month I get a report which I check to see if there any any issues.  My score basically stays static each month.  Got the latest one today.  It tells me I don't have enough "credit" available and that to get a better score I need to take more credit cards out.   As I said I have a single card.   The card was taken out a couple of months ago after I stopped my Amex.  Therefore there is an orange warning saying I mustn't take out any new cards as it will affect my store.

Therefore in the same report they are stating.  Take more cards out to get a better score followed by don't take any more cards out as it will reduce your score.

All they seem to be interested in is selling me more cards.

Completely unhelpful if I was in the position of needing help.

[Deleted User]

   Thanks?

bradders1983

dinglebert said:

Firstly from the off, I know that credit score is a bit of a joke and lenders don't care about it anyway

And then you proceed to type three paragraphs which clearly suggest you are in fact worried enough to start a thread about it. Ignore it, like you said from the off.

dinglebert

bradders1983 said:

dinglebert said:

Firstly from the off, I know that credit score is a bit of a joke and lenders don't care about it anyway

And then you proceed to type three paragraphs which clearly suggest you are in fact worried enough to start a thread about it. Ignore it, like you said from the off.

You read it completely wrong.  Its why I put farce. The whole thing is a joke.  Its not a matter of ignoring it, its a matter of pointing out that the likes of Credit Karma are out to make a profit from peoples concerns even when they contradict themselves.

sourcrates

Its not a joke though, its the companies core buisness, they are a credit broker, they exist to sell you credit cards and loans.

The credit score thing is the bait, and the information they tell you is the hook, all you have to do is believe the hype, and bite, hook, line and sinker.

From their website -

"Credit Karma UK Limited is a credit broker, not a lender.

Credit Karma UK Limited is registered in England and Wales with company number 7891157. Registered office: c/o Legalinx Limited, Tallis House, 2 Tallis Street, London, EC4Y 0AB. Credit Karma UK Limited is authorised and regulated by the Financial Conduct Authority under registration number 737743".

penners324

Credit Karma have a free app that is updated weekly....

MEM62

dinglebert said: All they seem to be interested in is selling me more cards.  

Now there is a surprise 

TimSynths

I am just watching a bear defecate in the woods through the window.......

MattMattMattUK

TimSynths said:

I am just watching a bear defecate in the woods through the window.......

I thought it was the Pope...

DCFC79

TimSynths said:

I am just watching a bear defecate in the woods through the window.......

Sounds interesting. Was it a black or a brown bear ?

jimbo26

How else do you think Credit Karma make their money? They don't provide a free report because they feel charitable.