Credit Karma, the largest provider of free credit scores and credit reports in Canada, today launched its credit monitoring service, the only service to proactively track Canadians’ credit reports for free. For the first time, Canadians can now stay on top of their credit and react to any suspicious activity easily and quickly.Credit Karma will proactively monitor its members’ TransUnion credit reports on a rolling, daily basis. The service searches for significant changes on a credit report including new credit inquiries, and whether a new account is opened, a creditor reports a delinquency, the status of an account has changed, new personal information such as a name, address or employer has been added, or if a consumer statement, bankruptcy or legal item has been reported. “Credit monitoring can help people find possibly fraudulent activity and information that may be out of date or incorrect, and work to resolve these issues before they make it difficult to get credit you need,” said Credit Karma Founder and CEO Kenneth Lin. “Especially in this time of heightened security, keeping an eye on your credit is particularly important.”Credit Karma pulls in information from a credit report — account overviews, payment history, credit inquiries and legal items like judgments or consumer proposals — and builds a level of user-friendly personalization on top of these records, which can help Canadians identify items that may require their attention. Credit reports are created and maintained by credit bureaus and contain data which lenders and other financial institutions can use when determining approval for credit cards, loans or lines of credit and their interest rates.Credit Karma is used by nearly one million members in Canada to stay on top of their credit health. Credit Karma members can also search for new credit cards which may offer them rich rewards or low fees and interest rates. Credit Karma is available to Canadians in the provinces of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan.To enroll in Credit Karma’s free credit monitoring service or create a free Credit Karma account, visit www.creditkarma.ca.
About Credit Karma
Founded in 2007, Credit Karma is a personal finance company that’s focused on helping everyone make financial progress. Whether they’re interested in getting a better deal on a loan, looking for ways to save, or simply monitoring their credit, we offer a range of tools and personalized recommendations designed to help them make the most of their money. Our business model is unique in that no matter what new products or services we introduce, we’re committed to providing a service that’s always free. With more than 75 million members in the United States and Canada, we help people gain insight into their finances and credit information – and ultimately, improve their financial standing.Learn more about how Credit Karma members are making financial progress on Facebook, Twitter and YouTube.