Why Using Credit Karma is a Good Idea for your Credit Rating


Why using Credit Karma is a good idea for your credit rating

Do you need to check your credit rating before you apply for a mortgage or a car loan? Do you need to see what your rating is like, so you can be sure there is nothing false or erroneous on there?

If so, before you start trying to figure out the credit rating system yourself, it may be worth your while using Credit Karma instead.

What is Credit Karma?Credit Karma is a site that allows you to access all of your credit reports via one website. It allows you to do this for free. All you have to do is to complete their easy application form, and then they will do the rest.

What kind of information can you get at Credit Karma? — You can get all the information you need on your credit reports and credit rating at Credit Karma.

Information like your entire financial credit history, any leans you have against you, any bad debts that have been reported, and whether you are on time or late with payments.

You can also look at any bankruptcy records you may have on file, and figure out when these will finally be removed from your record.

Confirm your payments — If you feel like some companies you deal with are reporting your payments late, even though you paid them on time, or you are not sure if they are reporting them at all, you can use Credit Karma to find out.

When you request a report, Credit Karma will also give you all the information you need about your monthly payments. How much did you pay? Was the payment on time? Was it for the full amount due or just a partial amount?

All of this information can help you track payments and keep an eye on your credit rating.


Credit Karma for Financial Future


The information provided on the website Credit Karma pertains only to those people who are planning on getting a loan from any agency that offers loans. All loan agencies require a credit score from those who are filing for a loan. The credit score is got from credit reporting agencies who collect data on creditors. In order to have a credit score or even to take advantage of the information the website Credit Karma, you must have accumulated a credit history. That means that you must have credit cards or loans already in existence or have had credit cards and loans in your part financial history. All reports from those who have given you credit or loans are sent to credit reporting agencies. You can access these credit reporting agencies yourself to find out what your credit score is and, also. to find out which creditor has filed a report on you.

Your creditors can file both negative and positive credit reports on you

If you take advantage of the website Credit Karma, you can get your credit score from the three credit reporting agencies at once. That will help you to decide if you will qualify for a new loan or even for a new credit card. There is other information on the website that will help those whose credit is not good and who need information about getting their credit scores fixed, Taking advantage of all free information is the best way of getting a handle on your financial credit standing. Knowing about credit reporting agencies and the importance of your credit score is the first step in taking control of your credit financial future.

Important Tools for your Financial Well-Being

1Identify theft in America is an ongoing crisis that continues to disrupt peoples’ lives, by ruining their financial good standing for years, preventing them from making major life advancements such as purchasing a home. In addition to the financial consequences, it can take an emotional and physical toll as the time it takes to prove your identity was stolen is substantial. One of the most powerful tools that consumers have at their disposal is to engage a credit monitoring company such as credit karma.

Credit Karma will monitor your credit report on the three credit bureaus. In the event someone attempts to steal your identity, credit karma can notify you immediately that changes have been made to your credit report giving you the opportunity to dispute it immediately.

If your credit score has already been damaged by identity theft or perhaps debt due to unforeseen circumstances, credit karma can offer assistance to help you improve your score with all three credit agencies over time as well as providing advice on how to lower your debt.

Credit karma will also allow you to check your credit score regularly so that you can see any liens or debts you may not even be aware off that could potentially impact your career or ability to rent or buy a home. Many people often check their score for the first time and find they have many items on collections that they were not aware of and in fact the original bill was not even theirs to begin with.

Understanding your credit score and how certain financial behaviors can impact your profile negatively or positively is an important tool to have in this day in age. Credit Karma offers many features that will allow you to stay on top of your financial goals.

Myths About Your Credit Score

1Most people know why it is important to maintain a good credit score. Even though there is a lot of great information about credit, there are also a lot of myths about it. Below is a list of myths about credit:

Myth: You Cannot Rebuild Bad Credit

Fact: Having a bad credit score can be quite frustrating. However, there are many things you can do in order to build your credit score back up again. For example, paying off past-due accounts can help you increase your credit score. Keep in mind that building your credit score back up can take some time.

Myth: Your Credit Score Will Decrease If You Check Your Own Score

Fact: Checking your own credit score is known as a soft inquiry. Soft inquiries do not hurt your credit score. However, when a lender checks your credit, then this is known as a hard inquiry. A hard inquiry can cause your credit score to decrease.

Myth: Bankruptcy Is The Best Option For Dealing With Debts

Fact: Bankruptcy can help you get rid of most of your debt. However, this is a legal process that can take several months to finalize. It may also stay on your credit report for up to 10 years. In fact, a bankruptcy is one of the worst things that you can have on your credit report. That is why it is best to consider all other options before you file for bankruptcy.

Myth: Your Education Level Affects Your Credit

Fact: Neither your education nor your income affects your credit. Payment history, loans, credit cards and liens are factors that affect your credit.

If you want to check your credit score for free, then you should visit Credit Karma.

Credit Karma


A person needs to know their credit score. The credit score will help determine if a person is approved for loans and the amount of interest that they will pay. The higher the credit score a person has the more likely they are to get credit with a lower interest rate. The site Credit Karma will help a person see their official credit report and will even provide tips on how a person can improve their credit.

On this credit report will be all of the payments that a person has made to their bill collectors. They will see if the payments were made on time and if some of the payments were made late. All delinquent accounts will also be shown. A person should read over their credit report to make sure there are no errors. If there is a mistake it can cost them a lot of money in high interest rates.

If a person has declared bankruptcy or they had any wage attachments this information can be found on their credit report. They can also check and see if there are any liens against them and who is issuing this lien.
On the credit report a person will also see what their creditors and insurers have reported about their credit and their ability to pay their bills on time. In some cases employers will check a person’s credit report to get a feel if they are responsible or not.

Credit Karma can help a person with personalized assistant to help them fix their credit as well. This information can help a person get approved for loans and will reduce the interest rates they will pay.

Ways to Improve your Credit Score

Your credit score is important for a number of things, from getting a mortgage to renting an apartment. It can even have an effect on getting a job or an insurance policy. If your credit score could use a boost, there are ways you can raise it up, although it won’t happen overnight.

Pay your bills on time

One of the best things you can do to boost your credit score is to pay your bills on time. Your history of bill payment plays a big role in determining your score. Though you can’t do anything about past last payments, you can help yourself by bringing past-due accounts current and making sure you pay all bills on time going forward.

Reduce debt

Another very large factor in how good your credit score is is the amount of debt you carry. This is particularly important in relation to how much available credit you have. You generally need to keep your debt to less than 30% of your available credit. For example, if you have $10,000 total in available credit on your credit cards, you should keep your debt below $3,000. Paying down debt, even well below this threshold, can help improve your credit score.

Check your credit report

It has been estimated that one in four credit reports contain errors, and though most of those errors are minor clerical issues that don’t affect your score, it’s still a good idea to make sure. Get your annual free credit report from each of the three major bureaus, and if you find any errors, ask for a correction in writing. Be prepared to offer evidence that the credit report entry is in error, such as a credit card statement. Your score will receive an immediate boost as soon as the error is corrected.

To learn more smart ways to improve your credit score visit us at http://3creditscoresonline.com.