Credit score Karma Overview: From a Actual Person

Ever since I first used Credit score Karma in my 10 free monetary companies put up (and sure, you may get a free Credit score Karma account for all times), I’ve had many curious mates and readers ask me questions on them. That prompted me to jot down this Credit score Karma overview and replace it ceaselessly. It’s price noting that Credit score Karma was just lately bought by Intuit (house owners of TurboTax,, and different monetary companies) in 2020. Will probably be fascinating to see if these merchandise get built-in with Credit score Karma sooner or later, or if CK might be saved as a standalone service.


I’ve now been a Credit score Karma person for over 11 years, and replace this overview each few months to mirror my experiences and new options. The commonest questions I obtain about Credit score Karma are:

  • Is Credit score Karma free?
  • What are the free options Credit score Karma affords?
  • How does Credit score Karma become profitable?
  • Is Credit score Karma protected?
  • Is Credit score Karma a rip-off?
  • How correct is Credit score Karma?

I had all of these questions myself. And I researched closely. What follows is a overview of Credit score Karma that hopefully solutions these questions and extra.

Is Credit score Karma Free?

Is Credit score Karma actually free? Sure, Credit score Karma is 100 free%. This was the massive query that I had getting into as nicely. You’ll discover with most different “free credit score rating” corporations, whenever you join their service, they ask to your bank card. After which, a month later, you’ll unsuspectingly get charged. After going again to learn the nice print, you’ll discover that free was actually solely free for the primary month, and should you didn’t cancel your subscription, you’ll get charged.

Not at Credit score Karma. Of their FAQs they state:

Q: Is Credit score Karma actually free?


A: Sure. Credit score Karma is all the time free. Credit score Karma received’t ask you to your bank card quantity throughout the registration course of or at another time.

I can affirm that is true. I’ve by no means been charged or been requested to enter my bank card when utilizing Credit score Karma.

Why Ought to I Use Credit score Karma? What are the Professionals & Options?

Right here’s a rundown of all of the free advantages you may get from a Credit score Karma account:

  • TransUnion Credit score Rating: as seen above, you get a free TransUnion credit score rating, and it’s constantly up to date so you’ll be able to see the way it adjustments periodically as you are taking actions that can affect your credit score rating.
  • Equifax Credit score Rating: you additionally get a free Equifax credit score rating, along with TransUnion credit score scores. That makes free scores for two out of the three main credit score bureaus. Each scores use the VantageScore 3.0 mannequin.
  • TransUnion Credit score Report: Credit score Karma has free credit score report entry too. By clicking on “Overview” and “Rating Particulars” in your dashboard, you’ll be able to click on “View Credit score Report” to entry your credit score experiences at any time (they’re up to date weekly). This offers you extra constant entry to credit score reporting all year long (versus 1 report per bureau per yr by way of, permitting you to extra ceaselessly monitor and proper any errors or discrepancies.
  • Equifax Credit score Report: After TransUnion credit score experiences have been added, free Equifax credit score experiences have been added as nicely.
  • Credit score Accounts Record: an inventory of your entire accounts and once they have been created (from each Equifax and TransUnion).
  • Free Credit score Monitoring: The most effective options of Credit score Karma is free credit score monitoring – so you’ll be able to monitor any suspicious exercise like new accounts created or credit score inquiries that you simply didn’t provoke. Click on in to your “profile & settings” and look beneath “communications & monitoring” to set it up.
  • Credit score Card Spend: You may simply monitor your bank card spending by class (much like Mint) by linking accounts.
  • Credit score Components Report Card: beneath “Rating Particulars”, Credit score Components means that you can see a grade on every of the components that go into making up your credit score report: credit score utilization fee, cost historical past, age of accounts, derogatory remarks, whole accounts, and credit score inquiries. Good data for bettering your credit score rating.
  • Credit score Rating Simulator: beneath “Assets”, the Credit score Rating Simulator is perhaps essentially the most helpful characteristic on Credit score Karma. You get to simulate how taking sure actions (i.e. closing a bank card, opening a brand new one, growing your credit score line, and so forth.) could affect your rating.
  • Identification Monitoring: Credit score Karma will present you if any of your private info has been breached in hacks of different web sites.
  • Monetary Calculators: Credit score Karma affords numerous monetary calculators for private use: mortgage refinance, debt compensation, mortgage, amortization, and so forth.
  • Credit score Karma Cash: Credit score Karma Cash is a brand new (no charge) high-yield financial savings account and checking account providing from Credit score Karma. There is no such thing as a minimal deposit to open.
  • Unclaimed Cash Search: seek for unclaimed cash in your title.

What Occurred to Credit score Karma Tax?

“Credit score Karma Tax” is not supplied by Credit score Karma. With Intuit’s buy of Credit score Karma, the U.S. Division of Justice pressured Credit score Karma to promote Credit score Karma Tax to Sq., Inc. It’s now known as “Money App Taxes”. All tax associated content material on Credit score Karma now directs to Intuit’s TurboTax, which has each free fundamental submitting in addition to paid tax variations. Should you’re searching for tax software program, try my greatest and most cost-effective tax software program article.

How Does Credit score Karma Make Cash?

How does Credit score Karma makes cash in the event that they don’t cost you for his or her service? It’s a legit query. They’ve virtually an an identical enterprise mannequin to (which might be a part of the rationale why Intuit made the acquisition of Credit score Karma). Should you’ve signed up for Mint’s service, you’ll periodically get Mint accomplice affords that might doubtlessly prevent cash. It’s a type of focused promoting. Credit score Karma has the very same mannequin: ad-based affords from monetary companions.

You may elect whether or not or not you truly wish to obtain these affords proper on the sign-up web page beneath communication preferences (and you might be even opted out by default). I respect that degree of transparency.

Is Credit score Karma Protected? A Have a look at Credit score Karma Security Measures

Any time you might be coping with your credit score, you wish to make certain your privateness is protected and safe. Is Credit score Karma protected and safe? Sure – Credit score Karma is extraordinarily protected.

With any credit score service, you should be recognized by your Social Safety quantity. With some new account registrations, it’s possible you’ll solely want to make use of the final 4 digits (see picture). Others required the complete 9 digits, in case your data are more durable to seek out. Both approach, that is just for first time retrieval – and your Social Safety quantity just isn’t saved on their servers.

To maintain your privateness protected, Credit score Karma additionally boasts the next privateness, security, and safety measures:

  • 2-factor authentication on logins.
  • Credit score Karma makes use of 128-bit encryption to safe the transmission of knowledge (notice the “https” within the deal with bar).
  • Independently licensed by digicert.
  • Exterior safety monitoring.
  • Credit score Karma doesn’t promote your private info to or share it with unaffiliated third events for their very own promoting or advertising functions.
  • Accounts are learn solely – you’ll be able to’t execute transactions.
  • No bank card info entered and solely final 4 digits of Social Safety Quantity, if wanted.
  • Credit score Karma was just lately bought by Intuit (house owners of TurboTax,, and different monetary companies), which is able to solely make Credit score Karma even safer.

Is Credit score Karma a Rip-off?

Earlier than signing up, I puzzled “Is Credit score Karma a rip-off?”. However, after researching and utilizing them for a few years, I can let you know Credit score Karma just isn’t a rip-off. They’re a legit firm with a legit enterprise mannequin that has been round for years now.

Credit score Karma is a digicert licensed firm. And thru BBB (Higher Enterprise Bureau), they’ve a robust historical past of responses and grievance resolutions to prospects. That’s reassuring.

Energy in numbers is reassuring as nicely. Credit score Karma has over 110 million members. And the Intuit buy of Credit score Karma is reassuring, as it’s a very respected firm.

I’ve by no means as soon as been charged, by no means as soon as had my identification stolen, or had any complaints of any type within the years I’ve used Credit score Karma.

How Correct is your Credit score Karma Credit score Rating?

Lots of people wish to know if the scores you obtain from Credit score Karma are correct. By “correct”, I’m assuming they wish to examine the Credit score Karma credit score scores to a FICO rating (which is usually utilized by lenders to guage your credit score). I crosschecked. Your expertise could fluctuate, the however scores that I’ve acquired from TransUnion and Equifax by way of Credit score Karma are normally inside a handful of factors of my FICO rating. That’s lower than a 1% unfold – which is mainly no distinction when you’re judged for a credit score approval. The credit standing corporations have gone out of their approach to have comparable score fashions, and FICO makes use of TransUnion, Equifax, and Experian information to calculate their scores.

Credit score Karma Opponents

Credit score Karma doesn’t actually have any direct opponents that provide every thing that they do. However you may get bits and items from different websites:

  • TransUnion, Equifax, and Experian: supply credit score scores, experiences, and monitoring. They every have completely different month-to-month subscription prices.
  • LifeLock: affords plenty of the monitoring and alert parts, with much less of a concentrate on financials and bank cards. They’ve 3 month-to-month tiered companies for a subscription value (see my LifeLock overview for extra particulars).
  • Credit score Sesame: affords fundamental credit score rating and monitoring, however not a lot else. They’re a free fundamental service in addition to paid. See my Credit score Sesame overview for more information.

Credit score Karma Overview: Abstract

Any trustworthy Credit score Karma overview will discuss concerning the cons. The one Credit score Karma con I’ve is that there are quite a lot of affords within the interface whenever you log in to your account. It’s a minor annoyance, however that is how Credit score Karma makes cash, so I’ll take that trade-off vs. having to pay for the service. You’re beneath no obligation to enroll in any affords.

All-in-all, Credit score Karma is an excellent helpful service that I believe everybody ought to have of their monetary arsenal. You’re mainly getting at no cost what many different companies like Equifax, TransUnion, and Experian are charging $15 or extra monthly for simply on the credit score report and rating monitoring element. And having used different credit score rating reporting service up to now, the good graphical interfaces, report card, and Simulator software make Credit score Karma rather more helpful. I extremely beneficial their service to anybody and rating it as a 5 out of 5 stars. Please share your Credit score Karma overview beneath.

Get a free Credit score Karma account right here.

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Credit score Karma Overview
  • Value
  • Options
  • Security


Credit score Karma Overview Abstract:

You received’t discover a monetary service that provides as a lot worth as Credit score Karma, for gratis. Your free account will get you entry to each TransUnion and Equifax credit score scores and experiences. On prime of that, you additionally get free credit score monitoring, credit score suggestions, a free on-line financial savings account, and different perks. I contemplate Credit score Karma to be a vital software within the private finance toolkit. And their member depend and buy by Intuit validates this declare.

Get a free Credit score Karma account right here.

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