topic Re: Any nervous about using Credit Karma? in General Credit Topics

Any nervous about using Credit Karma?

Anonymous — Tue, 26 Oct 2010 12:38:57 GMT

I find it odd that a site would give you access to your credit report free of charge. Then it dawned on me: they clearly get you to divulge your SSN, identity info, and all other good stuff that could be used to actually steal your identity. Doesn't that strike anyone as ODD?? The Big 3 scoring bureaus (and myFICO) have an obvious motivation--provide credible information for a fee. No extraordinary / exceptional risk in inputting your information into their system. But CK has no obvious motivation and seems EXCEPTIONALLY risky.

Thoughts?

Re: Any nervous about using Credit Karma?

MarineVietVet — Tue, 26 Oct 2010 13:34:55 GMT

I've used CK for several years now because IME the information they have is very accurate and up to date and have never had any concern about security.

Of course I ignore the scores offered there and any advice they might give as to how to improve my situation.

ETA: When you pull your free reports at annualcreditreport.com you have to enter the same personal data as CK.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 10/10-774
You can do the same thing with hard work

Re: Any nervous about using Credit Karma?

chasmith — Wed, 27 Oct 2010 10:39:28 GMT

I don't think the cost of obtaining credit reports is all that high, and companies can buy unlimited pull type subscriptions, especially for softs. CK is buying what large marketing companies buy, and then offering an advertising supported service around it. What you're seeing is how much profit the companies and CRAs make selling you individual reports at $10 or more, and monthly subscriptios, etc. That's how and why they buy all those TV ads.

Re: Any nervous about using Credit Karma?

Anonymous — Wed, 27 Oct 2010 19:05:38 GMT

If you don't mind me asking, what do you use the information for on CK,

Re: Any nervous about using Credit Karma?

MarineVietVet — Wed, 27 Oct 2010 19:48:30 GMT

@Anonymous wrote:
If you don't mind me asking, what do you use the information for on CK,

Hello there and welcome to the forums.

I don't mind you asking at all. I keep up with my credit utilization, AAoA, account balances, total debt, and DTI among other things. It's certainly not as complete as a full TU report or a TU report I can get here at myFICO but it updates very fast and I find the site helpful.

CK is not liked by some and that's fine but as long as you understand that the score you get there is to be ignored it serves my purposes.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 10/10-774
You can do the same thing with hard work

Re: Any nervous about using Credit Karma?

Anonymous — Thu, 28 Oct 2010 20:16:45 GMT

When you pull your own report on CK, it goes in as a soft inquiry, not a hard one, right? I'd like to see my info, but don't want to risk another inquiry - I have enough already!

Re: Any nervous about using Credit Karma?

haulingthescoreup — Thu, 28 Oct 2010 22:32:34 GMT

@Anonymous wrote:
When you pull your own report on CK, it goes in as a soft inquiry, not a hard one, right? I'd like to see my info, but don't want to risk another inquiry - I have enough already!

Yep, it's a soft when it's from any service.