September 30th, 2010

Just Launched On Credit Karma! Consumer Reviews on Credit Cards, Banks, Loans, & More

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If consumers could research financial products the way they could Yelp restaurants, then maybe we wouldn’t get stuck with credit card duds and bad banking offers, and instead hear about the best of the best deals straight from customers themselves.

That’s the idea of Credit Karma’s fresh-out-of-the-box Reviews feature.

Beyond reading what experts and bloggers have to say about a credit card or financial company, these consumer-generated reviews help inform your decision on all sorts of financial products based on people who speak from experience. Plus you can get hard-to-find data about specific credit cards, like the average credit card limit and average debt, to see what you can expect.

It’s quick and easy to post your opinion: be a Credit Karma member (free to sign up and get your credit score), rate product from 1 to 5 stars, and take a few minutes to critique or praise a product and post your thoughts.

Here’s 5 reasons to check out Reviews now:

    ck reviews

  1. BIGGEST REASON to use CK Reviews– See real examples of what type of credit scores and credit limits were approved for specific credit cards. Consumers are sharing, in their review, what credit score they had and credit limit they were given for their credit card. Credit card reviews also show Community Details based on real cardholders, which tells you the average debt for that card, average credit limit, and average credit utilization of cardholders. This is a feature you won’t find anywhere else, and gives unique and real insights as you shop for credit cards.
  2. Loved a credit card or financial provider? Share why, so other consumers know what perks they are in for. For example, Chase Freedom Visa Signature Card got rave reviews from one cardholder: “This card is one of the best cash back cards for lower spenders like singles and such. In short, I’m loving this card. Big thumbs up.
  3. Disappointed with a credit card or financial provider? Share why, so consumers know why they should avoid it. The same Chase Freedom Visa Signature Card also got sour reviews from another cardholder: “Hate this card. Cash Back offer sucks now. ABSOLUTELY hate their service. Okay rude Chase people, after all my attempts to resolve my issues, nothing was done.
  4. Shop beyond just what’s advertised. These reviews are from real people of all sorts of financial backgrounds. Maybe you’ll find a review mentioning the cashback program you were wondering about, or that points out fees or penalties you didn’t catch, or warning/praising the issuers’ customer service. Blogs and credit card websites can’t provide this diverse amount of insights.
  5. It’s brand-new on CK! Be one of the first to state your opinion, and maybe even make our Featured Reviews section. Be a trend-setter and a helpful voice in our community. Have your friends follow in your footsteps and review more financial products and help more consumers.

Over the next few weeks, we’ll be rolling out with more categories, products, and companies to cover and review more and more of the financial universe. We’re excited to bring this new feature to you so if you have any suggestions or feedback on our Reviews section, leave comments below!

Otherwise, step through to Reviews and tell the world what you think about your credit card, bank, auto loan, auto insurance, mortgage, and more!

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