Is Credit Karma Worth it?

is credit karma worth it?

Is Credit Karma worth it?

Is Credit Karma worth it? Should I give my information to them? Those were some of the questions I asked myself when I first heard of Credit Karma. Today I will compare the pros and cons of Credit Karma and give you an exclusive look at the features of the soon to be released Budget Build Buy financial app. 

What does Credit Karma do? 

Credit Karma monitors 2 of your 3 credit bureau reports. However, Experian arguably the most important is not available via Credit Karma. Credit karma uses your current credit report and credit score to offer products and some services you may or may not need. 

How does Credit Karma make money?

Credit Karma makes money when you click on links or apply to products or services they offer. Credit Karma does not offer or own any of the products or services they offer. They are brokers, middlemen and or affiliate marketers. Which means they have zero liability for any of the products or services you sign up for.

Credit Karma was recently purchased by Intuit and they now offer tax services. They claim to give you your return faster if you use their services. Credit Karma’s business model is based on analyzing your personal financial data to make money. They offer free services and leverage that information (your information) for large profits.   

Is my information secure?

As secure as any other online business which monitors your financial information. A couple of years ago Equifax suffered the largest data breach in history. Due to that data breach more than 250 million individuals’ information was compromised. At this time no reported data breaches have been confirmed or attributed to Credit Karma.  

Do they have my best interest in mind?

Sometimes the interest of Credit Karma comes before the needs and best interest of the millions of users logging into their app. Furthermore, Credit Karma does not personalize a plan for each individual user. At Budget Build Buy we assist clients in building personalized short term, midterm and long term achievable goals. So is Credit Karma worth it? For some of the features it is.  

Tell me more about the Budget Build Buy app

The Budget Build Buy app will take personal finance to a new level. Budget Build Buy will include the following unique features. 

  1. Check your credit score
    1. Connect with debt professionals to pay down debt and build better money habits
    2. Provide free resources on raising credit score and building a healthy credit history
  2. Assist you in creating and maintaining a budget
    1. Assist you in your Lifeplan. Lifeplan is a goal building tool unique to Budget Build Buy. 
    2. Our app will keep you on track to properly budget, build income and buy a home in 12-24 months. 
  3. Calculate to the penny what your net worth is and give you resources to increase your income. 
  4. Within the app you have the option of connecting with vetted partners offering insurance, home financing and business financing.
  5. Our app will also teach you how to invest like the pros. 
  6. Ask Warren – our wealth building guide named after the World’s Greatest Investor. Ask Warren any questions you have about building wealth or general investing questions. 

At this time we are looking for individuals interested in participating in our beta testing. Please contact us if you are interested in assisting us with product testing. Potential compensation will be options to own a small piece of this revolutionary company.     

Is Credit Karma Worth it?

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