Credit Karma Free Score: Is It Accurate For Credit Repair?
There are several websites that claim to offer the same services for free. However, by the time you check out scammers and less useful sites, only one seemingly worthy contender remains. Credit Karma is fully legitimate and is accredited with an A + rating by TRUSTe and the Better Business Bureau (BBB).
This removes any doubt that this is a scam and leaves us with only one question: do you offer the full package?
Sign up for a free account
In case you still have unfounded doubts about its legitimacy, the fact that the website does not store your credit card information should put you at ease.
When registering, the only confidential information that you may have to provide is your identification data, as it uses it to extract your records from various databases.
Other than that, regular monitoring of login behavior and some other non-essential information are the only things the site will remember.
Signing up is quick and easy. In addition, your data is protected by SSL technology. It also does not collect information about your location or even social security number, with the exception of the last four, as an additional measure of security.
Once you sign up, you will be able to access all the services for free.
Credit rating sites often give you a 7-day trial period before imposing your monthly fee, so Credit Karma seeks to bring a better deal to the table in this regard. Thanks to this, you do not need a credit card to enjoy their services.
How accurate are your reports?
It’s natural to think that the services offered by a free credit rating site would be mediocre at best. However, Credit Karma once again proves to be valuable as it collects your information from two of the largest and most trusted rating agencies. As such, the accuracy of your credit report should not be in doubt, as Credit Karma maintains world-class standards despite being completely free.
In addition, you will be able to access the information on a weekly basis, as the site regularly updates your credit score each week. This can be a crucial feature if you are looking to strictly monitor your credit score, although some may find it less useful given that there is not much credit activity in a week. They also have a program that allows you to project how your current decisions will affect your future credit score.
Credit Karma Score A respected type of credit score?
Since your credit scores will be different from FICO scores, Credit Karma uses TransUnion, which can still give you a good visualization of your current position and determine your worth. Lenders prefer to use FICO scores when determining your credit worthiness, so at some point, FICO becomes a necessity. Also, using a different source of credit data results in different credit scores than the Experian Vantage credit scores you might be used to.
Using data obtained from TransUnion and Equifax credit data, Credit Karma can provide Vantage Credit Score 3.0. Similarly, credit reports are also generated from the two databases. The credit score, while accurate, is not a FICO credit score.
Can I provide my credit karma report to credit repair companies?
It may not be the FICO choice of the preferred lenders, but Credit Karma still stands as a good credit rating website to help you make an informed decision about whether or not you need credit repair services. Their website is relatively easy to use and comes with a variety of useful services and information, which you can access for free. Frequently updating reports and gathering tools online gives you the power to monitor your credit score and plan your finances accordingly.
