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Question DetailsAsked on 9/24/2013

Is it Okay to use Credit

Would like to see my credit report

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4 Answers


Since most free credit score scams are actually free trial offers that lead to an automatic recurring charge on your credit card, I figured that Credit Karma would want a credit card number before giving me my credit score. I know how to beat automatic charges on my credit cards, so I thought I would go through the process anyway and find out for sure whether or not Credit Karma was a scam.

The surprising thing was that they never asked me to enter a credit card number!

As you may recall, I had generated a limited use credit card number to enter, but I didn’t need it. Credit Karma asked for a lot of personal information, but never asked me to enter a credit card number nor any bank account information. In other words, they have no way to charge me for my credit score. It’s tough to scam someone when you don’t get any money from them.

That begs the question, is the credit score from Credit-Karma a real credit score?

Another credit score offering out there are calculators that “estimate” your credit score for you. The catch is that they estimate your credit score based upon the information that you provide. Chances are that there is no way you are going to enter all of the information that exists in your credit report, so it is not a very accurate estimate, no matter how good the credit score calculator program itself is.

That didn’t happen with either. Instead of asking me for my financial account information, they asked me for the same type of personal information anyone would need to pull a credit report and get a credit score on me. This does include your social security number and there is no way around that, so at a certain level, you have to trust that the Credit Karma website is legit. So far, I haven’t heard of any rumblings that this is all a very elaborate identity theft scam, although that is no guarantee of anything.

Credit Karma Complaints

The number one CreditKarma complaint is that the credit score is not a real FICO score. However, it is based upon your actual credit report data.

As it turns out, I was buying my car off of its expiring lease when I discovered Credit Karma, so I was able to compare the score said I had with the one my auto broker pulled in order to do my car loan paper work. The scores were close enough to be considered identical. (Scores actually very depending upon which credit bureau is used and even from day to day depending upon new information being reporting and aging of old information, but in this case they were within 4 points of each other.)

Now what would make Credit Karma the must have personal finance service for financially savvy people is that it does not just offer you your credit score for free once, but says that you can come back and update it as often as you like. I don’t know if there is a limit on how many times you can update, but I updated my free credit score from Credit Karma every month since May with no complaints.

In other words, I have gotten six free credit scores from without paying a cent, without buying anything, and without clicking on any advertisements. There are advertisements on the page, but unless they are the kind that pay just for showing up, they have earned nothing from me other than thanks and this review.

I recently setup an account for my wife (spouses can have very different credit scores even if “everything” is held jointly) and have started getting her free credit score as well.

I can’t say that I expect Credit Karma to be in business long. I doubt that it can earn enough money on what it is doing to make a profit. It might even get shut down by Fair Issac somehow since they don’t want people thinking of its flagship product as “free”. If Credit Karma does succeed, then it won’t be long before copycats are all over the Internet. But, no matter how it turns out down the road, for now, Credit Karma is a great deal for people managing their money.


Answered 6 years ago by rnet7


When one considers the risk, I really wonder why anyone would use any credit reporting service other than one of the big three credit reporting firms (where you can get unlimited credit reports for about $25-40/year), or the free annual credit report service which should be more than enough for the average person, particularly since you can get it free from each of the firms once a year, or therefore about quarterly if you rotate through them.

You may not have paid anything for the free sort-of credit reports, but look at the amount of personal information you gave them. If you read their disclosure policy, it is wide open - they can basically sell you information or aggregate your info with others of similar location, age, ranking, etc. to sell to marketing firms. You are also trusting all that personal information in a single database - to me, that is madness ! Just an invitation to identity theft.

There is an old saying - Buyer Beware. The byword today should be Information Provider Beware, especially after the thefts/sales/releases of personal information by Yahoo, LinkedIn, Google, Facebook, credit card processing companies, etc in the past couple of years.

Answered 6 years ago by LCD


Not only does the BBB list numerous complaints about them, the FTC brought charges against the company in the past.


Answered 4 years ago by Guest_93192631


My brother recommended credit karma to me.

I went to the website and tried to open an account, just to find out, that someone else opened an account using all my personal information and of course using an email address that is unknown to me.

I did send several emails to credit karma customer service and still not an answer.

They dont have a 1800 number

I went to the equifax website after getting all panicked and bought one of the products they offered to constantly monitor your credit and also put fraud alerts on all 3 credit bureaus

I'll file a complaint with the FTC , also with the BBB.

I will keep searching for websites like this where people can share their reviews and I'm going to let others know about my experience, maybe it can help someone.

Identity theft can be a nightmare for anyone.

"Be aware of credit karma" and remember, free is not always good!

Source: Own experience

Answered 4 years ago by JCLemos

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