If you have also been hearing the name Credit Karma a lot recently and are often confused about what it is then you should, first of all, gather the information about what credit score is. As Credit Karma is one of those companies that majorly deals with credit scores and other financial aspects for its users.
A credit score refers to the score calculated out of your credit history, debt repayment history and other factors. This score can range from 300 to 850. This score helps you to get better loan offers and also makes your lenders sure about lending you money. There are two types of credit scores:
- Good Credit score
- Bad Credit score
Depending on what your credit score is, it can be categorized into good or bad. If your credit score ranges from 300 to 579 it is put in the category of bad credit score. If your credit score ranges above 639 it is then considered a good credit score.
Now, why do you need to have a good credit score?
You need to maintain a good credit score to be available for the loans that you might need in the future as having a good credit score allows you to present yourself as a creditable borrower in the eyes of the lender. You might now think about how you are going to maintain a good credit score along with maintaining your other financial aspects. To aid this problem you have Credit karma and sites like Credit Karma which offer you a great service of maintaining a good credit score and maintaining other technicalities of your account. Let’s get into the article further to figure out Credit Karma and other sites like Credit Karma.
What is Credit Karma?
One of the best-known personal financial services providing America-based companies. They offer their users a facility of offering dual sources of credit score. It keeps you informed about all the tools and ways you can use to find and secure the best credit score. While logging into Credit Karma you need to fill out the following details:
- Name and personal information
- Social security number
- Bank details
After filling in all such details you will be able to monitor your credit score and learn how to increase and maintain it. It is a safe and secure site which can be trusted as it is built up and webbed with tight and authentic security settings that protect all your important information. Sometimes it is the question that concerns people, is credit karma credit score accurate? The answer to this question is absolutely simple, Yes. As Credit Karma does not just estimate your credit ratings, rather it gets the credit score from the major customer bureaus Equifax and TransUnion. This makes a very clear answer to a question that is the concern of many “Is Karma Score Accurately?”. That yes it is very much accurate as it is drawn from the primary customer bureau.
Is there just Credit Karma for such a service? Now there are several other sites like Credit Karma acting as an alternative and as a competitor for the site. Following is the list of other sites like Credit Karma.
Best Alternatives to Credit Karma
- Credit Sesame
- Nerd Wallet
1. Credit Sesame
Everyone’s life is so loaded that we sometimes have no time to manage some of our work, especially the ones that require a bit of technicality. Such may include financing and managing our credit scores along with proper management. But all thanks to the upcoming financial companies that provide such services in the southeast was possible. One such site like credit karma is “Credit Sesame”. This allows its users to enjoy some great services like credit scoring, and credit reports and also provides you with rewards for your increased credit score. Some of the major features that make it a great catch are :
- Free credit monitoring and credit score
- Sesame Cash to improve your credit score
- Cashback offers
- Easy management of finances
- Identity theft protection
Getting such good services is a great endeavor and that too without much of a cost. Talking about the cost you can furthermore check out the “premium” in credit sesame. This feature would cost you $15.95 per month but it will also open you to the following features :
- Full credit reports by the sources that are TransUnion, Equifax
- Advances monitoring for identity theft.
- 24/7 live expert guidance and support.
- Wallet protection
- Boosting credit score
All the above-mentioned details are enough to understand how this site, like credit karma, has the best to offer in the best conditions. Now sometimes we make a comparison like Credit Sesame VS Credit Karma. There are the following points that can be considered while making such comparisons:
- Credit Sesame offers better identity protection for its users.
- The credit score simulator provided by credit karma is much more detailed than that of Credit Sesame.
- Credit Sesame provides you with a smoother experience.
Although it’s not easy to figure out which one’s better. Both of them provide the same service just with a few alterations that can be watched out for according to one’s requirements.
2. Nerd Wallet
One of the many sites like credit karma is NerdWallet, which aims at providing its users with financial aid and other additional services for their financial management. It allows you to manage your account along with your credit score and cash flow. They provide financial tools for the easy running of an individual or a business while they take major financial steps for them. It also provides recommendations and keeps a track of your credit score. Following are the key features of NerdWallet:
- Free of Cost
- Easy and safe to use
- Two-factor authentication
- Provides a free Nerd Wallet for money management.
- Makes you understand and explore your net worth
- Net Worth workings
- Manage account transactions
- Interactive tools for your credit score.
All in all, NerdWallet is not just a site like credit karma. It has a few similar functions as well as some distinct specs as well.
Rated as the best budgeting app that operates for free, Mint is one such gem. Along with budgeting services, it also provides services such as bill payment reminders along with monitoring credit scores which makes it one of the sites like credit karma. If you are looking for an alternative to sites like credit karma then the following pros of Mint would make it pretty easy for you :
- Cost Free
- Track investments and create saving goals
- Credit monitoring services
- Bill payment reminder
- High-security services
- Educational tools
Mint provides you with the best budgeting experience with so many additional tools. This covers all your financial workings and with the help of Mint, you can not only just meet your budget goals but also maintain your credit score and have professionally managed finance.
Recommendation- Guaranteed Approval Credit Cards for Bad Credit
When talking about apps like credit karma, Quizzle is also among the competitors of credit karma. It is an online service provider that brings its customers educational assistance to understand the working of credit scores and financial measures to manage credit scores. Being a free-of-cost site with complete credit score information and money-saving advice. All this makes it one of the most talked about sites which have approximately more than 2 million users. Along with these free-of-cost services it also has a paid version. Following are features that you get with the premium version of Quizzel:
- The monthly up-to-date credit report
- You get your monthly score
- Gives you a detailed score analysis
- Cross report comparisons
Quizzle is an alternative but a better option for sites like credit karma as it not only monitors the credit score but will also allow you to get to know about the ways to keep it up.
While concluding this article fully packed with sites like credit karma and all their features, I would like to add that there are always some alternatives that might work similarly to the hyped websites. So it’s good to sometimes look out for such alternatives. They sometimes cater to some demands which are not easily catered by others.
Frequently Asked Questions
1. Is credit karma accurate?
Yes, credit karma is accurate as it sources out from the most trusted bureau namely Equifax and TransUnion. As the overall report comes from trusted and most reliable sources it is very well clear that it can be trusted.
2. Why is my credit score different on credit karma?
Your credit score can be sometimes different on credit karma. That depends on what source you use to calculate the credit score. All the bureaus used for sourcing out the credit score revise different information from your credit card hence a difference can be seen in your credit score.
3. Is Experian better than credit karma?
If the comparison is made there are a few features of Experian that make it better like, it provides you with the real credit score as it is a credit bureau which allows it to get the reports from FISCO. But if we see Credit karma it provides you with so many more services and tools that enable you with financial assistance and help. Based on your demands you can figure out which ones are better for you.