While I was recently browsing through some of the new features they rolled out, it looked as if the site was geared more toward the younger generation. It’s perfect for college students and anyone else who wants to get a grip on their credit and debt situations.
Here are my favorite features.
Free Equifax and TransUnion Credit Scores!
Credit Karma has always showed you your TransUnion credit score (or, vantage score to be exact) and now they also show your Equifax credit score!
I hadn’t checked my credit score for several months so it was nice to see that it had jumped up 10-15 points since the last time. (Although you can see that Transunion says it’s actually went down 9 points.)
If you’ve never checked your credit score with Credit Karma it will take you about five minutes to set up your account and see where your credit stands. And if you ever plan on taking out a loan (like a mortgage!) you should absolutely know what your credit score is.
Savings on Credit Card Debt (Or Find the Best Card for You)
If you have credit card debt and are paying super high interest you can look at the credit card offers on Credit Karma for potential savings. Since these offers are made to you based on your credit profile it’s likely you’ll be approved. (Look on the individual credit card offer for your approval estimate.)
In the credit card offers under my account they were trying to promote several 0% interest balance transfer cards. They also show you the cards with the best rewards and the cards with the lowest interest rates.
If you’re into rewards cards Credit Karma can estimate the rewards of potential cards by looking at the amount you normally spend. If you’re in the market for a better card it’s worth taking a look at.
Student Loan Offers
If you’re looking to take on a new student loan or just want to see your options, they also have a student loan offer page with the choice to compare new student loans or consolidate existing ones.
While I’m not interested in taking out a student loan I decided to check out their offers anyway. There was Discover Bank Private Loan Offer and also the Smart Option Student Loan by Sallie Mae.
Credit Karma takes a look at all of your loans, whether those be personal, credit card debt, student loans, or business loans and then compares them to other products that could potentially save you a ton of money.
Since they already know your credit score they only show you the products that you’re likely to be approved for, making shopping for loans pretty darn easy.
What I Love the Most
I’m not in the market for a new loan or credit card right now. While I do love those features my favorite part of Credit Karma is that it’s easy to use and it’s free. I will never pay for a credit score again!
Have you tried Credit Karma yet?