Credit Karma Review
With the advent of free membership sites that one can get your credit scores, has also come many scam sites that are sucking the resources that many have put in innocently to try. However, not all free sites are a scam and that is why it is wise to dig a little bit deeper regarding a certain site before getting involved in any way, whether it is free or not, but is Credit Karma one of those?
Credit Karma is a free site that gives you a free credit score in addition to a report. Many other programs of its kind that require you to fill in your credit card details. Most of them require you to cancel your free membership when it expires or you will be charged. Credit Karma, on the other hand will not require any of these from your end.
Over and above giving you a credit score, this site will also furnish you with two more reports, which include the Equifax credit report and the TransUnion. These two credit reports are ones that credit agencies rely on most. In the past, these two were available on annualcreditreport.com in addition to Experian credit report.
The only challenge in this case is that individuals have had the privilege of accessing each of the three different reports once every year hence posing a limitation on them. This is the other challenge that Credit Karma has sought to help many overcome by ensuring that now you can get details of the reports it avails once every other week.
As a result, this helps you keep tabs with what is happening on the ground on a constant basis and if there are any updates, you will also get access to these every week. This does not mean that one should have all their eggs in one basket by trusting Credit Karma and throwing annualcreditreport.com out the window.
Rather, this implies that Credit Karma is an additional tool that one can use to strike a comparison or any difference between reports available from both sites and so it is wise to retrieve this information from these two to get a better picture of your credit score as well as the reports availed.
How it Works
Now that Credit Karma gives free credit, the obvious question would be how it actually makes money and here is how. The strategy it has opted to adopt is a targeted way of advertising that best suits the needs of a particular individual. That being the case, a client with great credit will be targeted by banks with credit cards and some of their best loan facilities and once they buy in to the idea then money will be earned from this.
This eventually becomes cheaper than opting for the traditional style of trying to woo the masses to buy into such an idea in which case you might find that most of them do not have a credit score that would qualify them to such loan facilities, hence, huge losses in advertisements.
In that case, they will definitely require some details to be able to run such adverts and Credit Karma will actually use your credit details to do this, which may seem like an invasion of privacy. However, you are giving them permission to do so. The whole idea is to bring to the attention of its members to financial products that advertisers are offering and convince them to accept those offers, which in turn becomes revenue for Credit Karma.
Is it safe to use Credit Karma?
Definitely! There are no hidden charges associated with this site and access to necessary reports is much more frequent. Over and above that, as a client you get to benefit in terms of keeping track of your credit score, which is a true reflection of your financial health; one of those details you always need to have with you.
Access to financial support in terms of credit becomes easier as long as you qualify since the information you seek is brought to you making your work easier and allowing you to accomplish much within a shorter period.
Credit Karma has much more than this to offer including the impact of either reducing your loan balance or borrowing some more on your credit rating among other useful details. This is certainly a resourceful tool to help you manage your finances better.
I know this is a little off my normal topic but I had a few people ask me about this program. It is a good program overall, not a way to make money from home though. You can access it through www.creditkarma.com. I have no affiliation with Credit Karma in any way.
Now more on my normal topics. If you are looking at a good way to make supplemental, additional, or a second income from home check out my top recommendations. There are many things that helped me build an online business and you can see all of those on my recommendations page.