An Action Plan for 2010
...Then go to CreditKarma.com and check your credit score for free.
...Then go to CreditKarma.com and check your credit score for free.
"If you are able to improve your credit score from good to excellent, you open up a world of options," said Kenneth Lin, chief executive and founder of CreditKarma.com.
According to CreditKarma.com's November U.S. Consumer Credit Score Climate Report, among those who have credit cards, the average balance increased 4% from October and has risen 14% since June.
You can update your score as often as you want. If you're working to raise your score, this will help you gauge your progress. Credit Karma CEO Ken Lin recommends checking for updates once a month.
Credit Karma is an excellent website if you're planning to apply for a mortgage or auto loan and it will hurt your credit score.
Credit Karma is mentioned in News 4 broadcast!
The first site is Credit Karma. You create your account and you can see your credit score right away and at anytime. You can then look at your report card, which grades you on the major things that impact your score.
In recent months, though, several services, such as Quizzle, Credit Karma and Credit.com have launched programs that provide free credit profiles. These websites can provide a useful snapshot of your credit standing and provide tips on how to improve it.
Ken Lin, CEO of CreditKarma.com, a credit-score service, says card issuers these days often toughen up "on a batch basis" without paying much attention to the particular cardholder's history.
If you don't want to pay, the scores on free sites such as Credit Karma and Quizzle are a good general guide of where you stand...