Intuit Credit Karma
"Think of prepaid credit cards as training wheels in the world of credit. They are best for teaching teens to control spending and the conveniences of how and where to use a credit card, without the risk of falling into debt," says Nicole Mustard, senior vice president of strategy at Credit Karma.
Normally, when you check your credit report for free, you don't get your score. You usually have to pay for it, unless you use a service like Credit Karma.
In its report this week, CreditKarma says consumers in six metropolitan statistical areas had a credit score decrease greater than the national average, including Chicago, Houston and Seattle, down three points; New York, down four points; and Los Angeles and Philadelphia, down five points.
Auto, mortgage and student loan balances all increased over the year among Nebraska clients of CreditKarma.com, a nonprofit group that provides credit information and counseling.
According to Credit Karma Inc., a provider of credit research and related services, Massachusetts' average consumer credit score was 685 in January, versus 686 a month earlier and 688 in January 2010.
You can also use a site like www.creditkarma.com to get your free credit score and see how various actions like paying down debt or closing an account would affect it.
Average mortgages, credit card balances and car loans in the District are higher than the national average, according to data compiled by CreditKarma.com.
"Older consumers definitely have better credit scores," says Ken Lin, CEO of CreditKarma, a consumer website that allows consumers to track their creditworthiness.
I'm going to walk you through one of my favorite credit simulators, the one at CreditKarma.
According to research done by CreditKarma.com, credit card debt amongst consumers decreased by 8% nationally to $7,404.