Credit card debt up 8% in a year, but down in S.F.
In May, U.S. credit card debt was up 8 percent since last year, according to a report from Credit Karma Inc.
9 Credit Score Myths, Debunked
Ken Lin, chief executive of the Web site CreditKarma.com, explains that while all of the credit bureaus (the main ones are Experian, TransUnion, and Equifax) use the same criteria to judge your "credit worthiness" and often come up with similar scores, they can vary because they have different information and may analyze it slightly differently.
Emerging from the Bubble
Check your credit score for free at CreditKarma.com. Your credit score will directly affect the mortgage rate you can get and how much of a down-payment your lender might require.
Get the Best, Spend Less
VALUE: Credit Karma offers one credit score, a credit report card explaining factors that make up your score and access to its credit simulator -- all for free.
Money matters: Credit Karma
Credit Karma is a free site that works with TransUnion to let you access an updated score as often as you like and track it through the months. At no cost. Not only that, but with its "Credit Report Card" feature, you get enough info to deduce what's in your TransUnion credit report, even though you don't see the actual report. Again, you can update that as often as you like. For free.
Managing Your Money, Social Media Style
CreditKarma.com is worth a mention for its sheer awesomeness. The site allows you to monitor your FICO credit score absolutely free!... CreditKarma.com is definitely worth checking out, especially in these days of increasing financial desperation.
Three ways social media can save you money
For those with no credit, like the graduating college student, CreditKarma is teaching traditionally hard-to-reach people how to begin the process of building credit. They then offer tools that show them -- based on real data -- how they can save dollars on big-ticket items.
Action News at 4pm
Credit Karma's credit card data is mentions in a news broadcast.
Is Kwedit a wacky idea?
Credit Karma points out another pitfall: "... the lack of real accountability to pay back these virtual loans glosses over the pitfalls of the actual credit world."
Credit card users can learn to use the system
To avoid having your account closed, use all of your credit cards occasionally, says Kenneth Lin, chief executive of Credit Karma, a website that provides free credit profiles. Even small purchases, such as a tank of gas once a month, will make you a more valued customer in the eyes of the card company, he says.