About Credit Karma
Credit Karma is re-engineering one of the largest industries in the world — consumer finance. We believe it is a fundamental right that all consumers should have free and comprehensive access to their credit and financial data, giving them the resources and information they need to easily take control of their financial health. Our service begins with free credit scores and full credit reports — the bloodlines of personal finance — and brings new levels of transparency and certainty to consumer credit and finance: daily monitoring, data-driven consumer resources and personalized financial recommendations.
Credit Karma’s mission is to use the power of technology to simplify financial decision-making. Available online and on iOS and Android, we help more than 40 million consumers better understand and optimize their credit and personal finances.
Headquartered in San Francisco, Calif., Credit Karma has raised $368.5 million in financing to date, including a $175 million Series D round in June 2015.
Credit Karma is funded by Google Capital, Tiger Global, Ribbit Capital, Susquehanna Growth Equity, Felicis Ventures, QED Investors, 500 Startups, Founders Fund, SV Angel, Valinor Management and Viking Global Investors LP.
Visit Credit Karma's Help Articles page to see frequently asked questions.
Features & Resources
Credit Karma’s product is an industry first, the only company to offer its users free credit data and reports
from two major bureaus – Equifax and TransUnion – dramatically simplifying what was historically a costly and
complicated process. Both bureaus’ credit scores are powered by VantageScore 3.0, a joint effort from the major
credit bureaus to bring more consistency in their credit reporting; nearly one billion VantageScore credit scores
were used last year by over 2,000 lenders, including six of the 10 largest banks.
Credit Karma pulls in a large amount of information from traditional credit reports – account overviews,
payment history, credit inquiries and public records – and builds a level of personalization on top of this
to guide users and highlight items that require their attention. The credit report identifies recent actions
that may be negatively impacting a user’s credit health, like a recent hard inquiry, an account with missed
payments or credit cards that consistently use a large amount of their available credit limit. As Credit
Karma users explore the site, they receive suggestions for next steps, are able to simulate the impact of a
potential action on their credit score or track when a public record will come off their report.
Credit Karma provides free credit monitoring to track its users’ TransUnion credit reports on a rolling,
daily basis and notifies them of any significant changes, such as if a new account is opened in their name
or if a creditor registers a delinquency.
Thin File Experience
Credit Karma users with a credit file too “thin” to generate a credit score are able to review what information is in their credit reports, learn about why they don’t currently have a credit score and how to build a credit history. These users can also access a range of educational content about credit scoring and have full use of Credit Karma’s financial management tools.
Credit Karma breaks a user’s credit health down into different categories — such as credit card utilization (how much of an available credit limit is used), payment history, length of credit history, number of accounts, credit inquiries and derogatory marks – and assesses each category with an easy-to-understand rating to help users make the most of their credit.
The free Credit Score Simulator lets members see how various actions could potentially affect their credit score over time, such as opening a new credit card, adding a loan, paying off all credit card balances or having an account go into collection.
Credit Karma analyzes its users’ individual financial situations to provide them with tailored,
personalized recommendations on how to save across all their financial products. Our database of financial
information and rates is updated daily by dozens of national and local financial institutions.
In some cases, Credit Karma can show members if they’re pre-approved for a particular product,
giving them the confidence to apply without the risk of hurting their credit score.
Users can connect Credit Karma directly to their checking and savings accounts,
providing them with a 360-degree view of their financial health.
Users can monitor all of their spending with Credit Karma, tracking purchases over time and by specific
category, with the ability to review all transactions from linked credit cards, loans and bank accounts.
Credit Karma assesses member feedback alongside available information on interest rates and benefits to
spotlight financial products that have been declared “the best.” Where relevant, Credit Karma can draw from historical data to provide information on credit score requirements and credit
limits. From any web browser, users can access reviews for a wide range of financial products, including
automotive insurance and loans, credit cards, credit unions, home equity and personal loans.
Credit Karma users receive recommendations and free quotes from national and local
lenders on potential auto insurance options.
Credit Karma provides its users with access to the resources to help them better educate themselves about
complex credit and financial concepts. There is also a forum where users can share their financial questions
and concerns with the rest of the Credit Karma community. Users also have access to a range of calculator
tools to analyze debt repayment, amortization, home affordability and simple loan scenarios.