Credit Karma

Credit Karma

 3.8/5 (729 ratings)
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  • 1 stars

About Credit Karma

Credit Karma is a finance website that offers free services to consumers and provides credit scores and credit reports. Credit Karma designed its financial education resources to help you better understand and manage your finances, from tax filing to finding the right credit card company.

Overall Satisfaction Rating

  • 5 stars
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Pros

  • Financial tools available
  • Tax filing assistance
  • Offers free credit reports
  • Financial education resources

Cons

  • Doesn’t include Experian
  • May not be 100% accurate

Bottom Line

Credit Karma has much to offer for a free credit report service, including tax filing services. While it doesn’t include Experian credit reporting, its tools are still useful for people looking to improve their finances.

Top Credit Karma Reviews

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Rated with 5 stars
Verified

Never knew Credit Karma had a tax service. It was so easy to use and free! I even did my taxes in a "pay for program" (to compare the totals) and got the same result so knew it wa...

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Rated with 5 stars
Verified

The Credit Karma helps keep track of your credit report. Also offers free tax service with help if you are audited. I would suggest everyone try this service as it's all at no cos...

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What is Credit Karma?

Credit Karma lets you check your credit score anytime and anywhere. The company also helps you simulate changes to your credit score by weighing your outstanding credit card balances, length of credit history, payment history, types of credit accounts and applications for new credit accounts. The company gives people access to their credit score and credit report from TransUnion and Equifax and provides weekly updates and product recommendations.

How does Credit Karma work?

Credit Karma members receive free credit monitoring and financial tools as well as access to thousands of customer reviews on products Credit Karma recommends, including credit cards and loans. Available financial tools include a credit score simulator, debt repayment calculator, simple loan calculator and amortization calculator.

Through Credit Karma, consumers can apply for any of the following credit card options:

  • Balance transfer cards
  • Reward cards
  • Travel cards
  • Cash back cards
  • 0% APR cards
  • Business cards
  • Cards for fair credit
  • Cards for bad credit

Credit Karma also helps members file their taxes and find personal, home and auto loans.

Is Credit Karma free?

Credit Karma’s services are free. The company will never ask for your credit card information. Credit reports, financial tools and tax filing services are free with Credit Karma.

There are financial products available from banks and lenders on its site, which is how Credit Karma makes its money. Credit Karma receives payment from its partners if you purchase one of the products the company recommends.

Credit Karma FAQ

Is it safe to use Credit Karma?
Credit Karma has a dedicated security system and bug bounty program to help protect the data on its site, and it uses 128-bit encryption to protect users. Additionally, the company promises to never share or sell your personal information to third parties without your consent.
Are the credit scores on Credit Karma accurate?
Credit Karma reports include credit scores and information from TransUnion and Equifax, two of the three major credit bureaus. It does not use Experian, the third major credit bureau, so the reported score may not be 100% accurate.
Has Credit Karma been hacked?
The company did experience a technical malfunction in August 2019, but there was no confirmation of a data breach.
How much is Credit Karma?
Credit Karma’s services are free to consumers. The site makes money when people purchase financial products from other banks or lenders on its website.

Is Credit Karma safe?

Because Credit Karma offers free extensive financial resources and helps people understand their credit reports and credit scores, we think it’s a good service — even though it doesn’t have reporting from one of the three major credit bureaus. We recommend Credit Karma for its free financial tools, resources and tax filing capabilities.

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How do I know I can trust these reviews about Credit Karma?
How do I know I can trust these reviews about Credit Karma?
  • 4,007,392 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Sept. 14, 2022

Multiple bad experiences. I tried to get a credit card to grow my credit rating. Outstanding approval odds according to them. Denied. "Hold" placed on an online purchase. Despite that I had 3x the funds needed and they had those funds for more than 6 months. My opinion, bad faith company. Use them for general information, but do not use them for anything substantial and certainly do not trust them with additional personal information. Additionally you should know I filed a complaint with the BBB.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 12, 2022

They kept sending me messages that I was approved by Carvana, low downpayment and monthly payment and I was in the market for a newer car so I applied and carvana wanted 75% down payment so I just decided to keep my old car instead. Well I changed my phone number because I decided to use that auto insurance deal that they kept telling me I could get lower insurance from. Well after that I would get 10 or more calls a day from third party insurance brokers and then I tried to update my phone number because I do have direct deposit through them and I am a truck driver so I don't have everything they wanted like birth certificate, marriage certificate and yes I do have my SS card with me but I refuse to send that over the internet and I don't Carry any mail with me

I guess the thing that gets me I have 3 credit cards and was able to update them with a simple phone call and All I wanted to do is just change my phone number. They want 2 Id so I did send them 2 pieces my commercial license and one other that is approved by the federal government and the state but they want private personal information. That doesn't fly with me so I am dropping them when I get home.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 12, 2022

    I just read on ConsumerAffairs about Credit Karma not owning up to their false loan claims. I have experienced this with them. They show me that I can refinance my auto loan and show me these great monthly payments and super low APR. When I apply for the loan and then have people calling me Nonstop I always come to find out they want to give me a loan that’s not the months they advertise or the APR they advertised to get me to apply for it. I’ve tried this a couple times and it’s the same result.

    Loan offices doing checks on my credit score that then hurts my credit score. They call over and over with ridiculous numbers that are worse than what I currently have with my existing loan. Then they keep calling with other options which isn’t the option I applied for. When I tell them this is the APR I want and monthly payment and length of loan they all Say they can’t do that. And then it’s back and forth with them about on Credit Karma site it showed that I qualify for this loan but then you tell me I don’t. So for credit karma to deny this is wrong. They definitely know of this. Don’t trust Credit Karma loan approval.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 8, 2022

    I applied for a credit card with Credit Karma, and I was told that my approval was outstanding for the credit card with milestone credit card only to be denied and hit with a hard inquiry and now I can't do anything about it, not only that my credit score went down, I just applied on August the 24th 2022. I was so disappointed, I personally believe that it's false advertising, I was also told that if I was denied I would be compensated, I don't care about been compensated as much I care about my credit report, this need to be reported to all consumers...

    3 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: Aug. 19, 2022

    Based upon your current mortgage, CK will extend mortgage offers that will lower your payment. However, what they fail to consider is that they are offering you 30 year mortgages while the remaining term of your mortgage is much less than 30 years. Do you want to lower your payment by extending the term of your loan by 7 to 10 years? I was advised that with a near perfect credit score, I had a "fair" chance of being approved for a credit card that I have had for 20 years!? Not much of an algorithm in my opinion. There is no way to contact anyone in the company from their website. Why are they hiding?

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 14, 2022

    Since Intuit (turbotax) owns Credit Karma, they partnered up with them and their last tax filing process tricked lots of tax filers to sign up for a credit card with credit karma. See more details on this here: **. The way I was tricked is during the end of the process so you could get your tax refund, your only option on their user interface was to "confirm your credit karma account before getting your refund". So I logged in to my CK account and they asked me to confirm my address. I did and immediately it said "congratulations on signing up for your new credit card". I was so angry, no words can describe it.

    I was informed I had to wait 2 months for my refund to appear on the balance of the new credit card before I can move it into my actual bank account. So that's what I did. Then I tried to close my credit card... nope can't do it. They WILL NOT let you close your credit card EVER! (Even if your balance is zero and you never activated it.) I've went through 7 phone calls. All who tell me the same thing "it will be closed". They send an email to me asking me to reply why I want to close my account. I try to reply and THEIR SYSTEMS REJECT THE EMAIL THEY ARE ASKING FOR. After going in circles with their help line over 7 times explaining this over and over and them lying over and over telling me it is scheduled to be closed but never closing it... I don't know what to do. :( PLEASE SOMEONE HELP!!!

    6 people found this review helpful
    Rated with 3 stars
    Verified Reviewer
    Original review: Aug. 13, 2022

    Great advice at the beginning. I did what they suggested and watched my score grow. After a couple years I continued what they suggested, they kept suggesting get another card, get another card, so my score would go up even more! I have two so I went for a third and huge mistake that was! My score dropped immensely! Don't do it! Stick to two! My score dropped fifty points! Don't get suckered liked I did! It happened to a coworker too. It really is disappointing when you put hard work into it, and they keep suggesting a third card because it will raise your score even more! Don't do it! It doesn't feel good!

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 12, 2022

    Their website is a piece of crap. I tried to create an account several times. Each time their website told me that the information I entered didn't match what the credit bureaus had. Yes, it does. It matches 100%. This is a failure of Credit Karma's website or processes because the information is 100% accurate. I wouldn't trust this website at all. If they can't successfully create accounts from accurate information, then what else is wrong?

    4 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Aug. 8, 2022

    1st off direct deposit takes longer then 5 days.

    2nd all transactions are quick and shows history (that's good).
    3rd the bad. 1st time requested a dispute. Been over 2 weeks. Says still working on it!

    Looks like I won't get my money back. Ugh. Even though I hate my local bank they work things out within 24hrs! Anyways I'm gonna cancel Karma. I'm just gonna try Chime.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 2, 2022

    I had a card decline at Spectrum because of a mechanical issue. The terminal charged me 3 times for 1 transaction. I asked CK to release the funds to me, they declined. I asked the mgr of Spectrum to send an email to CK saying the amount was declined, she did, saying Spectrum would not try to collect the amount. CK declined. CK said they would not release or dispute any pending charges for 7 days. During this time I received several late fees for bills I needed to pay, because CK had a pending amount of $280 on my account. Ck refused to compensate me for any of these late fees saying that it's just simply their process. I used an alternate banking card, who the terminal also locked for $280. The email from Spectrum to the alt bank worked and they immediately released the funds from pending. TLDR: Don't expect help from their customer support team for an unusual transactions.

    6 people found this review helpful
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    Credit Karma Company Information

    Company Name:
    Credit Karma
    Website:
    www.creditkarma.com