Re: Does having a student loan help or hurt your credit?[ Edited ]
11-09-2012 08:12 AM - edited 11-09-2012 08:12 AM
I just recently signed up for Credit Karma and Sesame this past month. I have already stopped using Sesame. Karma I check still just for a TU update. I also subscribe to TU, EX and EQ service in addition to Score Watch. I pay too much a month to monitor and check reports. I will cut this back soon, but not yet.
Credit Karma is good for only one thing, free monitoring of your TU report for changes. Everything else it provides is sub-par in my opinion. These sites are able to provide this service for free since they are basically huge advertising tools. They are covered in ads for services. Suggestions for credit repair services, card issuers, personal loans, banking accounts, auto/life insurance, etc. All these "featured partners" are how this site makes money. It's a bunch of garbage. I wish I had never signed up, giving CS and CK my SSN.
So they only get "paid" if you are clicking on some of the advertisements and using those services right?
By you saying you wish you had never signed up and gave them your SS number...what will they do with it? Do they share it with all of their partners that are advertising on the website? Can there be any security breach with them using it?
I signed up the other night, but of course I couldn't get anything since I have that block on my TU account. I'm wondering if I should call TU and have them remove the block now. I know when I had them put it on there they said that if I ever wanted it removed, it would just cost something like $5 to have it done. It seems to be hurting me in the long run by not being able to pull it by other companies that only use that report.
I do not believe they share my info with third-parties but I have not looked very close into that. I did not think they did when I signed up. They don't have to share. The advertising partner companies can give all the criteria to CK or CS and then they will determine who/what you match up with by using the info you gave them and your report that they are analyzing for free. I doubt their site is any more or less vulnerable than any other place your enter your SSN. The less places you enter it the more secure your SSN is though. I guess I am mostly peeved with myself because I signed up for a free service which is basically a huge advertising stream with very little value add.
I hate free stuff that comes with a huge clause - gmail, hulu, etc... Free but we own your data, free but we will datamine your usage and sell that, free but you have to have a facebook login and use that to access the site, free but you gotta deal with all the sub-par things we will advertise to you.