Credit Karma

Recently I was introduced to Credit Karma (www.creditkarma.com). Credit Karma is a site where they allow you to get daily credit score updates. However, the score is based on some weird TransUnion algorithm which ranges between 150-950. Experian and Equifax typically caps the score at 830-850.

credit karma

I heard of this site first on SlickDeals, but apparently it’s been on FatWallet for some time. With most financial sites, I’m quite weary about giving up information. Even if they’re legit, it’s a honey pot for identity thefts.

I searched around and found these 2 articles:

Online Financial Innovations Announces FinovateStartup, a New Conference Showcasing Dozens of the Most Innovative Financial Technology Startups (Show)

A Start-Up Offering TransUnion Scores (Show)

Anyway, reading into the thread, it appears that your full social security number isn’t actually stored on the site, but I guess you just have to take their word for it. I decided to sign up just to try it out. I already had Wamu’s credit card which provides monthly credit scores, but daily scores sounded interesting. Anyway, my number was rather high compared to the scores I’ve seen before, but as I stated earlier, this is using some weird TransUnion algorithm.

Interestingly enough, to get daily scores, you have to log in daily and enter your social security number (or was it the last 4 digits), meaning it might be true that they don’t store your full SSN on their site.

Update:
If you want to try out this site, use the following invite code: CKFRND

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