Questions and Answers

Q: Seems like the home page offers and my offers are the same. Is there really any level of personalization in these offers?

A: Currently, a small percent of our offers are unique and custom. If our UI team is doing their job properly, it will be seamless to the user. With that said, we are currently in discussions with several large name brands that will be providing custom Karma Offers based on your credit profile. Our continued goal is to provide content, offers, and services that create value for our members.

Q: How is the credit score calculated? I can see by the inquiry that you’re using TransUnion, but my score differs from the one that TU provides.

A: The credit score formula is a proprietary algorithm unique to each score developer. We currently use a score created by TransUnion, with the underlying credit report data also provided by TransUnion. In your case, while the data source is the same, we are likely using a different scoring model.

We understand that this has caused some confusion for some of our users. We are in the process of developing a solution.

To learn more about scoring models, click here.

Q: I have recently went back to school to get a better education and I want to clean up my credit and live like a normal person and hold my head up.Where do I start? My score is a whopping 450 and I am in so much debt it scares me ($20,000.00)

A: Consistency and diligence are the most important aspects of improving your score. First, make sure your debt is at the lowest possible rate. Try to get a debt consolidation loan with a fixed monthly payment schedule that you can pay and plan against. If you are in school, look for school loans that are backed by the government for lower rates. Some loans even defer payment until you finish.

If you have a difficult time securing a consolidation loan then look for alternative sources such as person to person lending sites like Prosper, Lending Club, or Zopa.

Lastly, be patient. A good credit history takes years to create but only days to destroy.

Q: Was unable to sign up. Checked info and all match EX info. Suggestions, or phone number to resolve?

A: A majority of our failed credit score retrievals stem from fraud alerts set on the credit bureau file. To protect consumers, we purposefully do not show these scores. We are actively working on a solution with the bureaus to provide an alternative authentication process. We understand this can be frustrating to consumers currently looking for a score. However, consumer privacy and protection is our first priority.

Q: From a security perspective, how are you protecting your users data? Is it stored in your databases or is it using some sort of hosted-security model (like PassPack)?

A: Security was our first consideration when building our system and infrastructure. Here’s an overview of some of our security practices:

1. All sensitive data is encrypted during transmission, in accordance with industry standard best practices.
2. All sensitive data stored in our databases is encrypted.
3. All machines are firewalled and the appropriate measures have been taken to separate machines with sensitive information, particularly databases, from the Internet.
4. We do not store full SSNs . In the unlikely event of a breach of both our systems and encryption, an attacker would only access incomplete user information.
5. We do not require you transmit your full SSN to us more than once (on your first credit pull).
6. We have gone to great trouble to secure all parts of the application from unauthorized access via common web exploit patterns.
7. We are required to pass security audits by the credit bureau.
8. All of our servers are housed in a secure facility that is monitored around the clock, 365 days per year