Therefore, creditors don’t report any data directly to Credit Karma, nor does the company gather data from creditors in any way. This will enable the company to match you up to what the bureaus have on file about you.Īlso, note that Credit Karma isn’t a credit reporting agency or credit bureau. Consequently, Credit Karma will ask for your personal details, including your Social Security Number, to create an account on the Credit Karma app or website. The scores provided are actual credit scores pulled from TransUnion and Equifax, rather than estimates of your credit rating. It’s essential to understand what this means for you regarding the data you see and your Credit Karma credit score. Thus, your Credit Karma credit report should be an accurate reflection of your information as reported by those two agencies. The credit reports and scores you see on your Credit Karma account come directly from Equifax and TransUnion - two of the three nationwide consumer credit bureaus. So, you can rest assured there’s no catch or hidden fees. Revenue from targeted marketing and advertisements offset the cost of its free services. The Credit Karma free service provides you with your credit report and score in exchange for information regarding your spending habits.Ĭredit Karma receives compensation from third-party advertisers. As of December 2020, the company is a brand of Intuit, the owner of the popular TurboTax DIY tax preparation service. It enables you to address any issues promptly and maintain good standing.Ĭonsidering that, we’re going to answer the following question in this guide:īut before we get there, let’s cover some basics and see how this service works! What Is Credit Karma?Ĭredit Karma is an American multinational personal finance business established in 2007. Therefore, checking your score regularly is a vital part of your personal financial management and planning. Your credit score impacts your ability to borrow money, get a mortgage, or secure a rental agreement.
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