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  • Chang
    replied
    I've been using credit karma for about 4 years now. No complaints so far and it's nice to see a truly FREE credit score website.

    Leave a comment:


  • Wall Street Forum
    started a topic Credit Karma Review

    Credit Karma Review

    I first started using Credit Karma a few years ago when I had a very limited credit profile. At the time I only had one credit card and my old inactive student loan accounts on my profile. I had heard that Credit Karma was free so I decided to give it a try. Its pretty fun watching your credit score improve and its a great way to stay on top of your finances.



    Is Credit Karma really free?

    Credit Karma really is 100% free. There is no trial membership to the service and no extras that cost anything.

    Is Credit Karma reliable?

    Credit Karma offers free Transunion and Equifax credit scores.

    One of my favorite aspects of Credit Karma is the fact that they update your score weekly. If any of your installment accounts report to the credit bureaus during the week you will see it update the following week.

    What are the advantages of using Credit Karma?


    The second biggest draw of Credit Karma is that they offer you tips on how to improve your score beyond the obvious methods(paying off debt)

    They even offer a credit score calculator that lets you simulate what your credit score would be if you pay down debt, close accounts, open accounts, and do other credit affecting things.
    Final thoughts

    I like to treat credit building like a game and see how high I can get it. Credit Karma helps you do that.

    After setting up an account with Credit Karma I started learning a lot about credit that I just never knew mainly because schools don't teach you anything useful in school.

    Example: The more credit accounts you have(in good standing of course) the better your credit is. It makes perfect sense in hindsight but obviously, banks rather lend to people who have paid a variety of debt down. Credit cards, car loans, mortgages, etc.

    As a business owner, I need to have good credit in order to apply for and be approved for business lending. Even though some of it doesn't report to my personal credit profile they still need to check my personal credit before deciding to lend to my business.

    Overall Credit Karma is a great service and I highly recommend it to anyone who wants a hassle-free method of checking their credit score.
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