Over a year ago I found Credit Karma while searching for how to get a free credit score. I already had pulled my annual credit report but I wanted to know what my credit score was too. I didn’t want to pay for this which is why I was delighted to find Credit Karma.
The following post is my review of Credit Karma and their services. After using this service for many months I want to share a very honest review of what I like and dislike about Credit Karma.
Why Credit Karma Is Awesome
I have to admit, Credit Karma is pretty stinking awesome! It’s got a lot to offer especially for the free version of the service. Here are a a few of the reasons why I love using Credit Karma:
- It’s a completely free service! You gotta love an useful service that is free to use. You must register and share information which they use to present you offers and advertisement to support the site. You are under no obligation to use those offers though and can use the site for free.
- You get an easy-to-understand credit report card. The information that determines your credit score is laid out in a way that makes sense. It’s also visually appealing.
- You get your credit score from TransUnion. This is much better than an estimate or guess of what it *might* be that some services create. It’s always best to go with a trusted source.
- Credit Karma has a credit score simulator. The credit simulator lets you input data about future events or actions on your part that might change your credit score. You can play around with paying off debts or closing accounts to see how your credit score will be affected. I found this really useful.
- Credit Karma has a learning center full of helpful info. This is where you can get info on credit and how to improve yours. They also give you tips throughout the site. If you know nothing about credit this is very useful.
- Credit Karma has a ton of free tools. These free tools include things like a home affordability calculator, debt repayment calculator, simple loan calculator and more.
- Credit Karma has useful information on credit cards. They have a recommended credit cards section where users can write reviews of different credit cards they own. This is pretty nifty to see what credit cards other people love. (Here are my favorite credit cards.)
Where Credit Karma Fails
Alas, no site or service is perfect. There are a few of the things I dislike about Credit Karma:
- You only get your credit score from TransUnion. This is both a positive and negative in my mind. It’s great to get an actual score from TransUnion, but it it would be better to get a score that includes all 3 agencies that report credit scores. Since there is usually some discrepancies between scores at each company it’s nice to have your score from all 3.
- You have to give up access to your information. Though the Credit Karma website is secure there is always a risk with having more of your personal data online on another website.
As you can see, there are not many things I dislike about Credit Karma.
I do like using Credit Karma and plan to continue using it for my credit score and monitoring program. I’ve actually set up my whole family on there and they all love it as well since previously they were clueless to their own credit scores. It was a huge eye opener to several family members who did not know their credit was so low (or that their debt was so high). It always helps to have everything in one place so you can analyze it with all the information on the table.
Final verdict: Credit Karma is a great service and an awesome way to keep an eye on your credit score.
Have you tried Credit Karma yet? Love it hate it? Check it out now!