Credit Karma is an American multinational personal finance company founded in 2007, which has been a brand of Intuit since December 2020. It is best known as a free credit and financial management platform, but its features also include free tax preparation, monitoring of unclaimed property databases and a tool to identify and dispute credit report errors. The company operates in the United States, Canada and the United Kingdom.
All of Credit Karma’s services are free to consumers. Revenue from targeted advertisements for financial products offsets the costs of its free products and services. Credit Karma earns revenue from lenders, who pay the company when Credit Karma successfully recommends customers to the lenders.
Credit Karma Products and services
Credit Karma provides free credit scores and credit reports from national credit bureaus TransUnion and Equifax, alongside daily credit monitoring from TransUnion.
Credit Karma also provides tax filing, loans, credit card, identity theft protection, and credit tools, such as a Credit Score Simulator which simulates the effect of potential financial actions on a user’s credit score; and tailored financial recommendations based on each user’s credit profile.
Credit Karma Tax, its free tax filing service, was announced in December 2016. Credit Karma Tax does not participate in the Free File Alliance, and so is not bound by its requirements to restrict eligibility for free filing. The company’s primary competitors in this area are TaxAct, TurboTax and H&R Block. In November 2020, Square, Inc. announced it was acquiring Credit Karma Tax for $50 million and would make it a part of its Cash App unit.
Credit Karma Login
- Open Your Web Browser and Go to https://www.creditkarma.com/auth/logon
- Enter Your Username in The “Username” Field.
- Type in Your Password in The “Password” Box.
- Now, Click the “Login” Button to Submit your Login Details.
Credit Karma Pros and Cons
- Excellent user experience
- Explains rationale for credit scores and reports
- Suggests solutions for problem areas
- Pulls data from third-party services
- Intrusive financial product recommendations
- Only displays two credit scores
Credit Karma is an aptly named personal finance service. If you pay your credit card bills in full and on time every month, don’t open and close accounts frequently, stay current with loan payments, and avoid negative events (such as bankruptcies and tax liens), you’ll be rewarded with an enviable credit score.
Since most of us don’t have perfect credit habits, we need to know where we stand and how to improve that critical number. Credit Karma helps on both counts. It keeps you up to date on that all-important credit score, but it also informs you of potential credit breaches and provides tools that help you find and secure the best credit card, loan, vehicle, and auto insurance deals.
It does all of this for free, paying for itself by the recommendations it makes to you based on your overall credit profile.
Since we last reviewed Credit Karma, its subscriber base has grown to over 110 million—including roughly half of all US millennials, according to the company. It’s added new services since then, such as a no-fee checking account and other financial services.
It also introduced the Relief Roadmap, a feature that provides links to local resources for consumers struggling with their finances. Credit Karma is good at what it does, but it’s not a full-service personal finance management solution like our Editors’ Choice picks for this year, Mint and Quicken Deluxe.