Credit Karma is a web-application that consumers can use to track credit scores, manage debt, and save money without spending a dime. Credit Karma offers a bevy of free interactive tools, calculators, and simulators that show people how minor changes in their spending behavior can add up to big savings over time.
If you’re anxious to see where your credit score stands, then sign up for a Credit Karma account. Tell Credit Karma your name, address, birth date, and the last four digits of your social security number, and the application will automatically retrieve your credit records from TransUnion. Almost immediately, Credit Karma will provide you with your three-digit credit score, as well as information about when that score was last updated and what that score really means. Use the applications’ interactive tools to compare your credit report to others in your demographic, or see how missed payments and overdrawn accounts are negatively affecting your score. The application will provide you with customized offers designed to help you lower the price you pay on mortgages, credit cards, auto loans, and more.
One of the latest, and greatest, features that Credit Karma is offering users is free credit monitoring. The application will track its users’ credit reports on a daily basis, looking for signs of error or fraud. When something is uncovered, Credit Karma will send the user an automatic email alert. Daily fraud alerts give consumers more time to correct the types of costly mistakes and errors that could otherwise downgrade their credit scores for years to come.
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