Credit Karma is an online service which offers a credit score monthly. Besides, this company also gives free credit monitoring, federal and state income tax preparation, and also credit card and loan recommendations. The last service that mentioned previously that is credit card recommendations, is how Credit Karma funds the operations. This company pairs your credit score with credit cards which typically accept applicants with the same score. In case you are interested and you want to apply to Karma Credit, they will receive a small commission. Remember that you do not need to apply for a credit card to use Credit Karma. A lot of people sign up for the service just to get access the free credit score and also credit monitoring perks.
Using the service of this company is free. This company has made transparency central to the business model. Another mission of this platform is helping people understand their own financial health. Ken Lin, a founder and a CEO of Credit Karma says that scores were built for lenders and statisticians. Then, he furthermore explains that consumers were not the intended audience. This platform has an aim to demystify credit for the average person. So, what is the business model of Credit Karma? That is not from selling the information that you share to get your credit reports from the site. It is written in the website of Credit Karma that the revenue of this company comes from tailored, targeted advertising by financial companies on the website.
The business model is based on discovering a win for the consumer, the financial institutions which advertise products and Credit Karma’s own bottom line. In November 2016, this company achieved 60 million members and lately launched in Canada. It possesses the ability to do robust analysis and use algorithms to choose relevant ads to specific people. To financial advertisers, it means that the website can be better match them with consumers who are more likely to use their services. If we see the agreements with its financial advertising partners, this company is paid for this lead generation. If the Credit Karma pulls the credit reports of their consumers, it can see the amount of the money that you pay for loans or credit card debt and can advice credit cards, personal loans, auto loans and insurance or other banking products which would save you money and for which someone with your credit score and history is likely to be approved.
So, we can conclude that Credit Karma Login is a personal finance platform which allows the customers to monitor their credit reports and also scores for free. Besides, it also offers the consumers tools and suggestions based on their credit profile to improve them. It is compensated by financial companies that pay to get “matched” with consumers as tailored product ads and it is based on their credit profile and high likelihood of being approved are presented to users. For making the consumers simpler and easier, this platform has launched mobile apps that you can download for free at Google Play and App Store.