SAN FRANCISCO, CA -- 09/08/08 --
Credit Karma (
www.creditkarma.com), the
free and easy way to access, improve and leverage your credit, today
introduced a new credit score that mirrors the standard credit score range
of 300-850 used by most lenders to make credit decisions. For the first
time, consumers now have free, repeated access to a standard credit score.
Until now, consumers were often forced to research and compare many
different credit scores that were all based on different score ranges and
that were only available through paid services or in the event of a credit
denial. Through Credit Karma, consumers can now proactively track the same
single credit score used by most lenders to make credit decisions for free
and at any time. This provides the estimated 40 million Americans(1)
currently paying $15 to $30 a month for their score with a free and more
informative way to access and improve their credit score.
"This is a huge win for consumers because we have now made it possible for
them to see a standardized credit score at any time and for absolutely
free," said Kenneth Lin, founder and CEO of Credit Karma. "At a time when
consumers are feeling extreme pressure to prove their creditworthiness,
we have made it easy for them to accurately and consistently track the one
number that most lenders use to make their credit decisions."
At CreditKarma.com, consumers can access this new standard credit score as
often as they need, completely free of charge. The company has also built a
suite of online tools and simulators to help consumers understand how
specific behaviors such as opening or closing a line of credit can improve
this credit score over time. Credit Karma also helps consumers learn how to
leverage their score through Karma Offers, where advertisers provide
preferred pricing to individuals based on the strength of their score.
As a staunchly pro-consumer company, Credit Karma never shares consumers'
personal information with advertisers or third parties.
About Credit Karma
Based in San Francisco, Credit Karma is a pro-consumer credit score company
dedicated to helping consumers better understand the power of their credit
score by giving them completely free access to it as often as they wish,
and then providing a host of tools and services to help them improve and
monetize that score. At www.creditkarma.com, consumers not only learn their
score, but they can identify what behaviors will positively impact their
score and then gain preferred product pricing based on their credit score
range
(1) The Market for Fraud Protection, Identity Theft, and Credit Monitoring
Services; Online Banking Report; August 15 2007, page 9
Press Contact:
Michael Azzano
Cosmo PR for Credit Karma
415.596.1978
Email Contact
