That is an interesting (Forbes) article on CK, thanks for posting.
- Wow, I had no idea that many folks used CK, I thought I was the cleaver one.
The CRAs collect my personal financial info without my consent or knowledge and they didn't want to have access to it???
Wow, and we here on MyFico (me included) tend to make fun of CK's recommendations. But I am surprised by that 80% approval rate for their recommendations. Often for me they recommend cards I already have, and they recommend cards from Chase & Citi which since I included them in my 2010 BK7 are automatic denials.
That "extensive financial info it has on users" would be years of income, credits & expenses you reported to the IRS if you use TurboTax, and it also mentions that CK has that for CK members that use their tax filing service. I've used TurboTax for years to file my federal & state tax returns and looked at CK's tax service this year and decided "no, you don't get to have both my credit and tax return info". I hadn't heard of the Turbo credit score service and logged into TurboTax and clicked the link to the Turbo credit service. It's right there: "Verified Income from tax filings". No thanks, you don't get to use my tax returns for marketing.
You are welcome.
I too was surprised by the number of people signed up at CK, and I was also surprised that their recommendations are 80% approved. They keep suggesting for me also a card that I already have, and they also suggest cards issued a bank that I cannot even get a pre-approval on.