Credit Karma is one of many sites that have emerged offering free credit scores. The financial reform bill that just passed makes it easier to know your credit score. The Dodd-Frank Wall Street Reform and Consumer Protection Act makes it so lenders have to show you your whole credit report they use. But you can keep that from happening by knowing your credit score beforehand and taking steps toward credit repair. Websites like Credit Karma offer to make your credit score available for free anytime, as often as you would like to check on it.
Credit Karma service supported by advertising
Credit Karma gets to be free because of all the advertising on it. That means it won’t try and make you pay for your credit score. Consumer Commentary reports that Credit.com offers a similar free service. Credit Karma will give a different grade based on more categories than credit.com. Credit.com does offer different types of credit scores though. Credit Karma only offers one score directly from one of the reporting bureaus that is not a FICO Score.
Does Credit Karma give me the details to fix my credit?
When it comes to credit repair, the usefulness of the credit score accessible from Credit Karma is questioned by some. It’s not a FICO score, reports mymoneyblog.com. The Credit Karma score will be a “FICO clone” ranging from 300 to 900. FICO scores range from 300 to 850. Credit Karma doesn’t explain where they get your info to make your credit score, although it pulls data from Experian, Equifax and Transunion. Plus, you only get your credit score, not who’s pulling your credit, how often they are doing it or details about your existing credit lines.
Is it possible to have a free credit score?
Objections aside, Credit Karma and credit.com appear to be very helpful for building, maintaining and repairing credit. If you don’t want to pay $ 89.95 a year for FICO’s Score Watch, the data could be very useful. AnnualCreditReport.com will give you free info on your credit as well. You can’t get a number for credit score, but it will tell you what affects your credit score. Avoid freecreditreport.com and creditreport.com. They bill your credit card $ 14.95 a month although they advertise to be a free company.
Consumer Commentary
consumerismcommentary.com/credit-report-cards-credit-com-vs-credit-karma/
mymoneyblog.com
mymoneyblog.com/free-credit-score-monitoring-with-creditkarma.html
AnnualCreditReprt.com
annualcreditreport.com/cra/index.jsp
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