In The News

Credit Q&A: Can You Inherit Bad Debt?

Credit Q&A: Can You Inherit Bad Debt?

MainStreet.com, 2011-08-19

“Your credit score would remain intact,” Ken Lin, CEO of CreditKarma.com, says, because the bad debt is attributed to the lien holder who was responsible for the delinquency whether they’re still around or not.

3 Things You Should Know About Credit Scores

3 Things You Should Know About Credit Scores

LearnVest, 2011-08-19

If your personal finance knowledge were a pie, credit scores would be one of the most difficult pieces to swallow. That three-digit number can be confusing, so gaining a good understanding of the credit basics is important. It will give you a context for your credit score, and you’ll know what you need to do to improve your credit health.

To live and borrow in L.A.: Student debts, weighty mortgages

To live and borrow in L.A.: Student debts, weighty mortgages

Los Angeles Times, 2011-08-18

Student debt has jumped 6% over the last year as tuitions and fees rise and financial aid is harder to come by, according to data tracker Credit Karma in San Francisco.

In the Los Angeles metropolitan statistical area, students who had borrowed money for their college education typically owed $31,233, compared with a national average of $29,932, Credit Karma said this week.

Skipping the Mortgage to Pay Your Credit Card

Skipping the Mortgage to Pay Your Credit Card

SmartMoney, 2011-08-17

The average consumer has an average of $6,355 in credit card debt, according to a CreditKarma.com report released today — 18% less than this time last year.

The New Freshman 15: Financial Tips for College Students

The New Freshman 15: Financial Tips for College Students

AOL DailyFinance, 2011-08-01

Set up text and email alerts for your bank accounts and credit cards to help you keep tabs on your spending and avoid missing payment dates. "It's an easy way to stay in-the-know about your own finances," says Justine Rivero, credit adviser at CreditKarma.com. "Plus you can make sure you don't ruin your credit by missing a payment or maxing out your credit card."

Debt in America: What We Owe

Debt in America: What We Owe

CBS Moneywatch, 2011-07-26

Credit Karma, compiled data from the credit files of its 211,000 users, to create a picture of how much individuals owe, broken down by loan type and the state in which they live. MoneyWatch analyzed this data to determine which state’s residents are the most and least indebted — and where people are making the most progress in paying down their loans.

How to Improve a Credit Score

How to Improve a Credit Score

SmartMoney, 2011-07-20

CreditKarma.com and Quizzle.com offer free scores using different formulas that, although less likely to be used by lenders, can help you ballpark your score at the outset and track it over time.

Florida credit scores dip

Florida credit scores dip

South Florida Business Journal, 2011-07-13

Credit scores for Florida consumers declined slightly over the past year, according to San Francisco-based CreditKarma. The credit management service reported that Florida consumers had an average credit score of 658 in June, down from 660 a year earlier, but unchanged from January.

Best Credit Cards for Globe-trotters

Best Credit Cards for Globe-trotters

MainStreet.com, 2011-07-06

According to Ken Lin, CEO of CreditKarma.com, Capital One’s Venture Rewards card stands out as the “best product” for travelers since Capital One (Stock Quote: COF) does not charge a foreign transaction fee and the rewards program associated with it is pretty substantial.

New free credit scores: What you need to know now

New free credit scores: What you need to know now

Reuters, 2011-07-05

Most of those scores are not official or necessarily used by many lenders, but some of them are close enough to FICO scores to be useful as approximations for consumers who just want a rough idea of how they are doing. If that’s all you want, get scores from a site that is truly free, such as CreditKarma.

10 Steps to Repair, Rebuild, and Protect Your Credit

10 Steps to Repair, Rebuild, and Protect Your Credit

Forbes, 2011-07-05

Have you had one or more financial misfortunes over the past several years and now have a less than ideal credit score? If so, you’re certainly not alone. Credit scores have been one of the biggest victims of the financial crisis and the recession.

Adding credit cards may lift credit score

Adding credit cards may lift credit score

Pittsburgh Post-Gazette, 2011-07-01

"What we found is pretty interesting," said Ken Lin, CEO of CreditKarma.com, a San Francisco-based consumer credit company. "The more credit cards you have, the better your credit score.

Personal Finance: Credit card offers are back

Personal Finance: Credit card offers are back

Sacramento Bee, 2011-06-26

Seem like you're seeing more credit card offers lately? You aren't dreaming. Targeting everyone from teenagers to 80-somethings, credit card companies are cranking out more offers, especially to those with good credit ratings.

Credit Karma Gets Even More Awesome

Credit Karma Gets Even More Awesome

Thousandaire, 2011-06-24

Credit Karma takes some of the guess work out of your credit score, and for that I will love them forever. “Well why don’t you marry it?” says my inner child. Well, if I could marry a website I might propose to Credit Karma after seeing their new Approval Odds feature. The website will take your credit information and use it to determine how likely it is that you will be approved for specific credit cards.

7 Steps to Buying a Home You Can Actually Afford

7 Steps to Buying a Home You Can Actually Afford

Forbes, 2011-06-10

Whether they’re fleeing one of those affected neighborhoods or just trying to avoid being one of those foreclosed on, more and more people are deciding that they’d like to buy a new home (and take advantage of real estate prices and mortgage rates that are still near record lows) but do so responsibly.

Mass. mortgage balances among highest in U.S.

Mass. mortgage balances among highest in U.S.

Boston Business Journal, 2011-06-09

Massachusetts residents are among the most credit-worthy in the country, this despite the fact that the state’s average mortgage balance is a lofty $221,671.

Americans lower debt loads, but Tennesseans see some increase

Americans lower debt loads, but Tennesseans see some increase

Nashville Business Journal, 2011-06-09

Americans have lowered their debt loads over the last year, according to a new report from CreditKarma.com. Nationally, the average mortgage debt per customer has dropped 2 percent since May 2010, to $172,957.

Credit Scores Drop Three Points; Card Debt Down 15%

Credit Scores Drop Three Points; Card Debt Down 15%

Collections & Credit Risk, 2011-06-09

U.S. consumers average credit scores dropped three points to 667 since May 2010, while credit card debt plunged by 15% to $6,740 in the same period, according to data Credit Karma released Thursday.

Free Credit Scores (Seriously, They’re Really Free)

Free Credit Scores (Seriously, They’re Really Free)

Mint.com, 2011-06-06

“Free” in many cases actually means “conditionally free”, which really means it ain’t free. Last week I wrote about credit related processes that are 100% free but are often included in fee-based subscription services. This week I’m writing about the very limited number of websites where you can actually get a free credit score, with no strings attached.

5 Questions You Must Ask Your Lender

5 Questions You Must Ask Your Lender

MainStreet.com, 2011-05-31

"The penalties are typically charged by predatory lenders because they want you to be locked in to paying the high interest rate on the loan," Ken Lin, CEO of CreditKarma.com, says.

Save money traveling with common sense and social media

Save money traveling with common sense and social media

Gadling, 2011-05-26

"...It isn't easy, but I'll be happy when I'm sitting beachside without worrying that I emptied my savings account or put everything on credit to get there." says Justine Rivero Credit Advisor for Credit Karma in Forbes.

Easy ways to score free plane tickets

Easy ways to score free plane tickets

CNNMoney, 2011-05-25

While the offers might not steer you into products you don't need, they could sway you to choose one company over another, said Ken Lin, CEO of credit management website Credit Karma.

Putting the Class of 2011 on the right financial track

Putting the Class of 2011 on the right financial track

Baltimore Sun, 2011-05-21

Kenneth Lin, chief executive of the credit management service CreditKarma.com, says consumers in their early 20s have an average score of 617 out of a possible 850. Scores inch up as graduates learn about the importance of credit and how everyday transactions can harm their finances, he says.

Survey: Nevadans reducing mortgage, credit card debt

Survey: Nevadans reducing mortgage, credit card debt

Las Vegas Review-Journal, 2011-05-12

CreditKarma Chief Executive Ken Lin attributes the decline to foreclosures, which are eliminating high mortgage debt incurred during the boom years when housing prices were high.

Arizona student debt grows, remains below average

Arizona student debt grows, remains below average

Phoenix Business Journal, 2011-05-11

"As college tuition costs skyrocket, consumers are forced to take out larger student loans to meet the increase in price," said Ken Lin, CEO of CreditKarma.com.

How to Improve a Credit Score

How to Improve a Credit Score

SmartMoney, 2011-05-10

Gauge the impact of paying down debt on your current score with a simulator at Creditkarma.com.

Dialing down the price of gas

Dialing down the price of gas

Minneapolis Star Tribue, 2011-05-07

Rewards cards usually have higher interest rates, which will cost a consumer far more than can be made up with the 1 or 2 percent discount on gas, said Ken Lin from CreditKarma.com.

How to Boost Your Credit Score at Every Age

How to Boost Your Credit Score at Every Age

Yahoo! Finance, 2011-05-02

"Building credit isn't the same as building a large balance," Ken Lin, CEO of Credit Karma.com, says. Don't make the mistake many credit beginners make by opening a store credit card at every retailer visited during Christmastime, for example.

Jump Online, Snatch up Some Free Stuff

Jump Online, Snatch up Some Free Stuff

KARE11.com, 2011-04-28

[Includes Video] I recently discovered, and fell in love with, CreditKarma.com. They tell you your credit score free of charge and will email it to you monthly.

3 Money Sources You Shouldn't Count On

3 Money Sources You Shouldn't Count On

LearnVest, 2011-04-25

Credit Karma helps more than 2 million consumers realize the everyday cost savings of having a good credit score. Here are some of the dangerously reliable cash windfalls, and why you should not count on them.

Beware of the Financial Fear Mongers

Beware of the Financial Fear Mongers

Wall Street Journal, 2011-04-23

CreditKarma CEO Ken Lin says that even though the scores are highly correlated with FICO scores, some may still be off by 100 to 150 points.

My Credit Karma Credit Score is Over 600!

My Credit Karma Credit Score is Over 600!

DoughRoller, 2011-04-19

Credit Karma is free, easy to use and rather than always having to sign up for free trials and cancel them, this is a perfect tool to utilize in following the progress of your credit.

5 Extreme Ways to Raise Your Credit Score

5 Extreme Ways to Raise Your Credit Score

Yahoo! Finance, 2011-04-19

According to Ken Lin, CEO of Credit Karma, "if you are within your means and in the right credit range, a car loan or mortgage is actually a great thing for your credit..."

Credit scores down in Q1, California leads nation

Credit scores down in Q1, California leads nation

Silicon Valley/San Jose Business Journal, 2011-04-13

According to a report from CreditKarma.com, Credit scores throughout the country have fallen two points in the first quarter to 665 and California still has the best credit score in the nation.

Alabama not a leader for credit scores

Alabama not a leader for credit scores

Birmingham Business Journal, 2011-04-12

Alabama is one of nine states where average residents have fair to poor credit scores, according to a report from CreditKarma.com.

How safe is your mobile wallet?

How safe is your mobile wallet?

Reuters, 2011-04-11

A password is your first defense against hackers, so make sure all your mobile payment applications are protected by one. And steer clear of obvious passwords, such as your birth date or the word "password," says Ken Lin, CEO of Credit Karma.

How to build meaningful financial services companies

How to build meaningful financial services companies

VentureBeat, 2011-04-08

Less consumer skepticism means we will see more opportunities for direct-to-consumer models like credit-score tracking service CreditKarma that are a win for both consumers and financial institutions.

Credit Karma: Get Your Credit Score For Free

Credit Karma: Get Your Credit Score For Free

Bible Money Matters, 2011-04-06

I've been using Credit Karma for quite a while - almost since they were launched back in March 2008. There are other ways to get your credit score for free, but none as easy as far as I'm concerned.

Hey Batter, Batter Don't Strike Out with your Credit

Hey Batter, Batter Don't Strike Out with your Credit

Fox Business, 2011-03-30

As baseball season begins, people may be more interested in watching pre-season games and planning trips to the ballpark than focusing on their credit. However, consumers can learn a lot from the strategy on the field to improve their credit this spring.

7 Smart Tips For First-Time Homebuyers

7 Smart Tips For First-Time Homebuyers

SavvySugar, 2011-03-29

Did you know that applying for a home loan with weak credit can lead to higher interest fees, and smaller loans? Leverage properties such as Credit Karma or myFICO to know where you credit stands.

The Hidden Costs of Bad Credit

The Hidden Costs of Bad Credit

MainStreet.com, 2011-03-17

This is because, as Ken Lin, CEO of Credit Karma.com points out, the minimum credit score requirement for a conforming loan - one that meets the terms and conditions determined by beleaguered mortgage giants Fannie Mae and Freddie Mac - is 620.

Card Debt Down 15% Nationally; Credit Scores Slip

Card Debt Down 15% Nationally; Credit Scores Slip

Collections & Credit Risk, 2011-03-10

Credit card debt among consumers with at least one account dropped 15% nationally in February to $7,168, with every state lowering its credit card debt, according to CreditKarma.com, a San Francisco-based company that tracks credit scores and household debt.

Florida credit scores fall

Florida credit scores fall

South Florida Business Journal, 2011-03-10

The credit scores of Florida consumers fell in February, according to CreditKarma.com.

Credit Q&A: Will a Disputed Bill Hurt My Score?

Credit Q&A: Will a Disputed Bill Hurt My Score?

MainStreet.com, 2011-03-08

According to Ken Lin, CEO of Credit Karma.com, if you are disputing a specific merchant charge, most credit card companies will exclude that item from payment until the issue is resolved.

Extreme Credit Repair: Why It Doesn't Work

Extreme Credit Repair: Why It Doesn't Work

San Francisco Chronicle, 2011-03-08

Ken Lin, CEO of Credit Karma, says, "Credit repair scams operate on loaded taglines designed to lure desperate, poor credit consumers."

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Content in Credit Karma articles is for entertainment and information purposes only. The opinions expressed in the articles are those of the authors themselves, and not necessarily Credit Karma or its affiliates. However, Credit Karma may be compensated by companies mentioned in Credit Karma articles through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.