Intuit Credit Karma
Kenneth Lin, founder and CEO of CreditKarma.com, which already gives out free credit scores to consumers, applauded this area of financial reform, but he expressed reservations about another credit-related aspect of the new regulations.
They [consumers] decreased their credit card debt by 8 percent between Jan. 1 and June 30, according to Credit Karma, a California-based credit-scoring website.
Consumers' average credit card debt in June was $7,833, up 0.2% from $7,652 in May and up 12.9% from $6,938 in June 2009, according to the San Francisco-based company, whose website tracks credit scores.
ABC Wichita television broadcast mentions Credit Karma.
Consumer credit card debt fell in the first half of the year, but just by 1 percent, according to Credit Karma in San Francisco.
There are also other non-FICO scores that give you a good idea of how you're doing. For example, you can get a free score at Credit Karma, and use it to monitor your progress.
Credit Karma Chief Executive Ken Lin says the high cost of living here, coupled with the weak economy, is making locals feel "cash poor" and thus discouraging them from taking on more credit-card debt.
The better your credit, the more attractive you'll be, and you can check your score for free with something like Credit Karma (save your money for your debts!).
"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.