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Credit Karma Credit Reporting Review


ConsumersAdvocate.org Rating: 3.5 / 5 (Very good)
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Founded in 2007, Credit Karma is an online service providing consumers free credit monitoring and access to their Experian and TransUnion credit reports and scores. The company currently services over 75 million members, which get to enjoy additional features like personalized recommendations for loan and credit card products, loan calculators, and even tax filing services.
 
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How is Credit Karma rated?

Breakdown

3.5/5
Plans and Pricing
3.5/5
Report Details and Frequency
3.5/5
Credit Bureau & Credit Scores
3.5/5
Monitoring and Extra Features

Overall Rating: 3.5 / 5 (Very good)

Credit Karma is an online service that allows consumers continuous access to their Experian and TransUnion credit report summaries and educational Vantage scores. The company also provides helpful insights as well as useful tools like debt repayment calculators and tax filing services to help their members improve their financial health. The best part about Credit Karma, however, is that their services are completely free for all registered users. Those looking for an inexpensive and reliable way to keep track of their credit and improve their credit score are sure to find Credit Karma an ideal resource.

Credit Score & Reports

Report Details and Frequency - 3.5 / 5

Upon signup, Credit Karma members get access to their TransUnion and Equifax credit report summaries, which the company states they update on a weekly basis. However, consumers should keep in mind that credit reporting companies typically update their reports with new information on a monthly basis and that Credit Karma uses the Vantage Score 3.0 model as opposed to the FICO credit scoring model used by most lenders. Regardless their scoring model of choice, Credit Karma offers an excellent free service with helpful insights and personalized recommendations that could particularly beneficial for those trying to improve their overall credit standing.

Credit Bureaus Covered

Equifax
Experian
TransUnion
Credit Report Frequency
Monthly
Access to Credit Scores
Yes
Access to Credit Reports
Yes

Monitoring & Tools

Credit Bureau & Credit Scores - 3.5 / 5

Upon signup, Credit Karma members get access to their TransUnion and Equifax credit reports, which the company states they update on a weekly basis. However, consumers should keep in mind that credit reporting companies typically update their reports once a month and that Credit Karma uses the Vantage Score 3.0 model as opposed to the FICO credit scoring model used by most lenders, meaning the information they provide is intended to be used for educational purposes only. Consumers who know what to expect from Credit Karma as a free financial literacy resource will find it delivers practical tools, valuable insights, and relevant recommendations particularly useful for those trying to improve their credit.
Credit Tools
Credit Analysis Calculator
Security & Protection
Identity Theft Monitoring

Credit Karma Plans & Pricing

Plans and Pricing - 3.5 / 5

All Credit Karma's services are completely free, as the company makes money by partnering with lenders and financial institutions offering credit cards and a variety of personal loan products. The company only gets paid when their members sign up for the credit and loan products recommended for them based on their credit profiles and likelihood of approval.
30-day Trial Available?
No
Free Report Offered?
Yes

Credit Karma Reputation & Support

Monitoring and Extra Features - 3.5 / 5

Credit Karma is not accredited by the Better Business Bureau and holds an F rating with the organization. Conversely, they have received 89% positive customer reviews on Truspilot.com, where they hold an 9 (Excellent) TrustScore. There have been a number of complaints filed against Credit Karma, yet most seem to be due to misconceptions about the services they actually offer. The company will alert members to important changes on their TransUnion or Equifax credit reports, yet will not monitor them for suspicious activity.
Mobile App
Yes
Alert Methods
Text
Email

Customer Feedback

BBB Rating
F
Trust Pilot Rating
9.0 out of 10
Date Collected
2019-03-01

Contact & Additional Company Information

Year Founded
2007
Homepage URL
https://www.creditkarma.com
Company Phone
(415) 692-5722
Mailing Address
PO Box 520, San Francisco, CA, 94104

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Customer Comments & Reviews

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baddog57
9/9/2019
Scam site. Only exist to sell credit cards. Poorly run, NO customer support

M
melissa
7/16/2019
I had a fraudulent person steal my identity and log into my account and completely change the password, email and phone number somehow. They have access to my account and all of my info. I cannot get a hold of credit karma and I've emailed them MULTIPLE times, they have no customer service and this is a SERIOUS issue with no resolution.

murraytompkins84
5/29/2019
I have an account with credit karma, butchanged phones now cant get to log in,plus forgot my email. and password, I have tried older ones ,nothing works.can you send me a link to start all over with a new password ,email.

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  • 3 Credit reports & $1M Identity Theft insurance**
  • Helped protect more than 47 million identities
  • Monthly Credit Score* updates
  • A+ BBB rating
  • What matters most is how a company helps you when your identity is stolen
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