Nov 4, 2021

America has a debt problem — and it may be worse for millennials

Debt is scarier than death, according to 42% of millennial respondents.  59% of millennials feel overwhelmed by the amount of debt they currently have and another 59% feel hopeless when it comes to paying down debt. More than half of millennials feel like the financial system is set up to work against them, along with […]

Oct 25, 2021

Student loan payments resume soon, some Americans are not financially prepared

Nearly half (48%) of respondents with outstanding student loans are currently not making payments — 39% of those say they are using that money to pay for necessities.  Of those who have outstanding student loan debt, 58% say their financial stability is dependent on the pausing of payments through the current forbearance program.  63% of […]

Oct 14, 2021

Pandemic Stifles Holiday Shopping as Many Americans Report Living Paycheck to Paycheck

More than 30% of respondents feel financially unprepared for the upcoming holiday season. 43% feel more financially stressed this holiday season compared to previous seasons, citing inflation as the leading cause of financial stress.  Three-fourths of respondents plan to spend the same amount or less this holiday season compared to last  Yet, 23% of respondents […]

Sep 29, 2021

Move Over Yoga, Financial Care is the New Self Care

77% of respondents consider financial care a form of self care and rank financial health as a top priority More than two thirds of respondents say they’ve experienced stress or anxiety relating to their finances  Of those who took on debt to fund summer spending, over half were Gen Z or Millennials Self care, a […]

Sep 27, 2021

Medical debt rises throughout the pandemic in the U.S., is it only going to get worse?

Credit Karma members in the U.S. hold $48.6 billion of medical debt in collections. Since the start of the pandemic, we’ve seen Credit Karma members in the U.S. take on an additional $3.6 billion in medical debt collections. Medical debt makes up about 44% of members’ total collections debt. Medical expenses are a leading cause […]

Sep 9, 2021

Buy now pay later surges throughout pandemic, consumers’ credit takes a hit

44% of respondents have used buy now, pay later services to acquire an item they needed.  Of those who have used BNPL services, 34% have fallen behind on one or more payments. 72% of those who fell behind on at least one payment said they believe their credit score declined as a result of missing […]

Aug 31, 2021

Credit Karma welcomes Team Bitmatica!

Building on the success/momentum of Credit Karma’s first-of-its-kind enterprise platform, Lightbox, we are pleased to announce our hiring of the team at Bitmatica, who have been already helping us with the backend platform powering Lightbox for nearly 4 years. Lightbox allows lenders to leverage thousands of de-identified data points from Credit Karma members to help […]

Aug 12, 2021

Pandemic Spurs ‘Great Resignation’, can Americans afford it?

41% of employed respondents are considering leaving their job within the next six months. More than half of employed respondents who are thinking about leaving their jobs in the next six months are financially prepared to do so — 28% are not. 34% of employed respondents say they’d accept a job that pays less than […]