Intuit Credit Karma
"Ten years ago, consumers didn't even know what a credit score was for the most part," CreditKarma.com CEO Kenneth Lin told me when I interviewed him recently for <em>Perfect Credit</em>.
"They [credit card issuers] are very good at the letter of the law, just not the spirit of the law," said Ken Lin, chief executive of CreditKarma.com, which tracks card activity.
Credit Karma is a revolutionary new service that provides customers with what they call the Credit Report Card. Consumers can use CreditKarma.com to see their credit reports, credit score and more for free. That's right, Credit Karma is completely free to use.
Ken Lin, CEO of Credit Karma, said consumers who are concerned about fraud should use credit cards instead of debit cards because of the certainty of the federal rule that limits liability to $50.
Ken Lin, CEO of CreditKarma, says he's seeing some issuers add "processing fees" for new cardholders...
U.S. consumers' average credit card debt in May fell to its lowest level so far this year, while credit scores held steady, according to new data Credit Karma released June 9.
"The rate of charge-offs seems to have peaked in December 2009 and January 2010," said Ken Lin, CEO of Credit Karma, the advocacy group.
In May, U.S. credit card debt was up 8 percent since last year, according to a report from Credit Karma Inc.
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.
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.