AS i pick myself off the floor.

[mavric]

I checked credit karma [i know FAKO] ,anyway it free just to see about where i am at. I'vd checked my score a few times over the years.

Still have 22 mo's left in ch 13 to go . Scores have stayed about 589- 602 .

You could only get Transunion, But now Equifax is all so on credit Karma.


Anyway my scores are now TU 721 EQ 711 with a little less than 2 years to go in ch 13.


Why the big jump? Maybe hit the 3 year mark.

[justbroke]

Probably a threshold for all of your account that were (and continue to be) reported negatively. You may even have had some things fall off. Just keep up the good work. Stay on plan. Keep payments current. Keep your head low. Survive!

[spidge]

I experienced the same jump. Almost 100 points in January. The reporting rules have changed.

http://www.dailyfinance.com/2014/08/08/fico-score-changes-could-help-millions-of-americans/

there are many articles on the subject so do a search for your own understanding.

Of course the thresholds for what is good or bad credit could be changed at institutions too.

[dmc-2008]

Wow that's great!!!!

[TXskyblue]

I experienced the same jump. Almost 100 points in January. The reporting rules have changed.

http://www.dailyfinance.com/2014/08/08/fico-score-changes-could-help-millions-of-americans/

there are many articles on the subject so do a search for your own understanding.

Of course the thresholds for what is good or bad credit could be changed at institutions too.

Credit Karma uses Vantage Score 3.0. The score you are talking about is FICO 9. They are not the same.

OP, if nothing else major changed then I'd guess you got re-bucketed due to age.

[spidge]

Credit Karma uses Vantage Score 3.0. The score you are talking about is FICO 9. They are not the same.

OP, if nothing else major changed then I'd guess you got re-bucketed due to age.

Thanks for the thorough explanation. I am sure the FICO 9 has nothing to do with what the Vantage Score 3.0 uses to come up with their number.

[TXskyblue]

Thanks for the thorough explanation. I am sure the FICO 9 has nothing to do with what the Vantage Score 3.0 uses to come up with their number.

I can't tell if you're being sarcastic and want me to explain more or not, so here goes.

FICO is a score from Fair Isaac. There are many models of FICO scores. FICO 9 is the one your story was talking about. It has not been adopted by the industry to a significant degree. FICO 08 is the most commonly used FICO score, followed by FICO 04. So, the reporting rules have not changed for most people in most situations.

Vantage Score is a score from a joint venture of the three major CRAs (TU, EQ, and EX). Vantage Score 3.0 is the model used by Credit Karma. As algorithms are proprietary, Vantage Score 3.0 will not and cannot duplicate a FICO 9 score. If anything, I'd say Vantage Score 3.0 is most similar to FICO 8.

Bucketing is the concept of placing people into similar cohorts. For example, one cohort or bucket might be people who filed BK less than 12 months ago. Inside that bucket, your score varies based on what's in your credit file but it stays within the confines of that bucket. When you pass 12 months of BK, you may be rebucketed into a cohort of people who files BK more than 12 months but less than 36 months ago. You may experience a precarious fluctuation in your credit score, either higher or lower, depending on if you move to a better or a worse bucket. When you have a major change in your credit score without any apparent material change in your credit file, you probably got rebucketed.

A change to FICO 9 will have nothing to so with Vantage Score 3.0.

[spidge]

Great explanation TX. I was butt hurt but I got over it. I apologize for being a smart ars.

[txbksurvivor]

Just a note about the Credit Karma scores... I have seen mine and I thought I was in okay shape. I am waiting for discharge (still!) and thought I would actually check FICO since I need to buy a car pretty much as soon as discharged. My FICO 08 score is over 100 points lower than the scores that Credit Karma gives from both EQ and TU.

[LadyInTheRed]

Yep, the only way to determine your FICO score is to get your FICO score.

The increase in scores people are seeing on CreditKarma probably has to do with their switch from Vantage Score 2.0 to Vantage Score 3.0, but could also be due to other factors like moving from one "bucket" to another based on the passage of time as txbksurvivor describes. Vantage Score 3.0 did implement the same change as FICO 9. For a summary of the Vantage Score changes, go to https://www.creditkarma.com/article/VantageScore-3-0