Consumers who are smart will know that their credit score can affect their ability to get a loan, credit card approvals, their mortgage rates and even a job or housing application. It means that it is a good financial habit to review your credit report and score often for getting accuracy and to identify ways that you could improve your score. Credit Karma offers free ongoing access to your credit scores and credit reports from TransUnion and Equifax.
Credit Karma can give the consumers Credit Karma Free Credit Reports and it comes from two major credit bureaus namely TransUnion and Equifax. So, how does it work?
- The first thing that you need to do is to create an account with Credit Karma. Do not think that it will waste your time. It will just take several minutes to sign up.
- Then, Credit Karma will pull your credit reports from TransUnion and Equifax and highlight the important things to help make the reports easier to understand. Your reports are able to be updated weekly and you are able to check as often as you want.
- The team of Credit Karma also will show your credit scores from TransUnion and Equifax, together with a breakdown of factors which can impact your credit score.
- The team of Credit Karma will show you offers which could save you money, like lower interest credit cards and loans.
- In case you take an offer from one of their advertising partners, they will make money. In case you do not see any offers that you like, do not be worried because Credit Karma will always be free.
So, what will we get from Credit Karma? First, you will get free reports and scores, and also tools to help understand them. They will not ask for your credit card information and you will get free tips, education and tools which can help you make informed financial decisions. Second, you will be able to check anytime. Under the Fair Credit Reporting Act, you can only get one free credit report in a year from each of 3 credit bureaus. Your reports can change more than once a year, though. Credit Karma offers different thing.
Your reports can be updated as often as once a week and you are also able to check them for free anytime. Third, you will get free credit monitoring. In case anything important changes on your TransUnion or Equifax credit reports, they will send you alerts which could help you find signs of identity theft more quickly. Even they are able to help you dispute certain errors.
Then, why does your credit report matter? Your credit report includes information like the frequency of making payments on time and the amount of accounts that you have in good standing. The information can give an impact whether you are approved for a credit card, auto loan, mortgage or other type of loan and the rates that you will get. Having the ability to check your credit reports regularly can also help you to find errors or signs of possible identity theft.