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Credit Score farce

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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.
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Comments

  •    Thanks?
  • 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
    dinglebert Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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
    sourcrates Posts: 31,527 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    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".

    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • penners324
    penners324 Posts: 3,511 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Credit Karma have a free app that is updated weekly....
  • MEM62
    MEM62 Posts: 5,316 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    dinglebert said: All they seem to be interested in is selling me more cards.  
    Now there is a surprise  :open_mouth:
  • I am just watching a bear defecate in the woods through the window.......
  • TimSynths said:
    I am just watching a bear defecate in the woods through the window.......
    I thought it was the Pope...
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 24 November 2020 at 2:44PM
    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
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    How else do you think Credit Karma make their money? They don't provide a free report because they feel charitable.
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