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So, Credit Karma has been trending on Twitter because a lot of people were pretty surprised to learn that making big financial decisions based on the company’s free credit scores doesn’t always end well.
In case you’re not familiar, Credit Karma is a personal finance site where you can look up your credit reports and scores for free. Not typically the stuff that trending tweets are made of, but it kinda makes sense given the ongoing GameStonks saga.
Aaaand here’s why people are tweeting: Credit Karma shows a kind of credit score called a VantageScore (and they are pretty transparent about it on their site, like in the screenshot below). But the thing is, in over 90% of US lending decisions, lenders actually pull a different score known as your FICO score.
Since you won’t see your FICO credit score on Credit Karma, you could be in for a big surprise if you apply for a loan or line of credit based solely on their scoring information. And as usual, Twitter users had the best reactions when they found this out.
Some people compared it to checking your health on the internet:
Some people were angry:
Others were just in total disbelief:
Some people could at least appreciate the gesture:
Ignorance is bliss…right?!
Other people thought it had to be one big joke:
And others felt lied to:
But there were a few people already ~in the know~:
Who pointed out there are ways you can check your FICO score: