When my ex-husband and I filed for divorce my credit report wasn’t even on the list of things I was worried about; Credit Karma™ has graciously sponsored this post so that you won’t have to worry about your credit report either. It was quite a while after the initial court filing, when I began closing all of our joint credit cards, that I realized the negative impact a divorce would have on my credit score. Abruptly closing several accounts at once will be detrimental to your credit. I struggled to figure out how to remedy the situation, and I didn’t have the extra cash to spend on an expensive credit monitoring service like I had used previously. I wish I had known about Credit Karma™ and their completely free credit monitoring service then, but I’m grateful to know they are working behind the scenes to help make sure I still don’t have to worry today.
It is estimated that a quarter of Americans have inaccuracies on their credit report; these inaccuracies could prohibit loan offers, increase interest rates, and in worst case scenarios, prevent job offers. Recent surveys found that 43% of employers check credit reports when making hiring decisions. A staggering number of Americans have never checked their own credit report. Did you know that a credit score lower than 720 can prevent you from getting the best interest rates?
Credit Karma™ offers a weekly credit score from TransUnion for free. They also monitor your credit report for changes such as reported delinquencies or new accounts, and they notify you of changes. Two of my favorite features of the service is the credit “report card” and credit simulator.
The Credit Karma™ credit report card gives you a letter grade for different aspects of your credit report.
- credit card usage
- payment history
- credit inquiries
- derogatory remarks
- number of accounts
- length of time you have had credit
Credit Karma™ credit score simulator predicts credit score changes.
- What if you opened a new line of credit or closed an account?
- What if you payed off all your credit card balances?
- What if you let an account go to collections?
What if someone fraudulently opens an account in your name? The weekly alerts would notify you so that you can work to remedy the situation and notify creditors.
Credit Karma™ also finds credit offers customized to your credit report and eligibility. They also provide ratings for products and services to help you make the best financial decisions. They even have a mobile application.
Thanks to Credit Karma™ I am working toward a healthier financial future. Want to learn more about services offered by Credit Karma™ or sign up for their credit monitoring service? You can visit their website here.
This post was sponsored by Credit Karma™ however all opinions contained herein are my own.