Finding the right financial products today can be confusing and overwhelming for consumers. These days, banks and financial institutions use more than just a simple credit score to make approval decisions, and it’s nearly impossible for people to know where they stand.
That’s where Credit Karma comes in. Since our founding in 2007, we’ve evolved from providing free and simple access to credit scores to launching industry-leading technology that provides the transparency people need to shop for financial products with more confidence, including credit cards, personal and auto loans, auto insurance and mortgages. Combine that with checking and savings accounts1, financial calculators and tools, recommendations, and educational articles, we help our members make informed decisions and achieve financial progress.
We help drive outcomes for our members. Members shopping for credit cards on Credit Karma have over a 50% higher approval rate than the national average.2 Members who compare loans on Credit Karma save an average of over 15% on interest rates.3
We tie our business to our members’ success. Credit Karma typically gets paid when members are approved for the financial products they choose. It’s a win-win-win: for us, our lender partners and our members.
Image: Credit ScoreMembers see their scores and reports
Members can see their credit scores and reports from TransUnion and Equifax, with daily checks.
Image: PaymentsWe make recommendations
We use our love of data to analyze our members’ credit profile and make product recommendations that could help save them money.
Image: Hand – Thumbs upWe get paid by the lenders
If a member gets a product through one of our recommendations, the bank or lender typically pays us.
1 For Credit Karma Money Spend and Save accounts: Banking services provided by MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply per account. For Credit Karma Money Save: Maximum 6 withdrawals per monthly savings statement cycle.
2 Based on a comparison of Credit Karma member approval rates in calendar Q32022 vs the national approval rates for general purpose credit cards from 2020 according to the Consumer Financial Protection Bureau’s 2021 Consumer Credit Card Market Report (36%)
3 Based on aggregate member personal loan origination data from July 2022 to December 2022. Estimated average interest rates for members who found personal loans through Credit Karma were compared with estimated average interest rates for members who found personal loans with Credit Karma personal loan partners elsewhere. Those members who found personal loans through Credit Karma had estimated interest rates that were over 15% lower on average than those who found personal loans outside Credit Karma.