June 24th, 2016

Concern for Environment Cuts Across Credit Score Bands

It turns out having clean air and water is something almost everyone can agree is important. A Credit Karma survey in late March, 2016 of a cross section of its more than 60 million members to determine what issues they considered priorities in the presidential election found that regardless of age or credit score* the majority ranked the environment as very or extremely important and some segments found it even more important than others. Millennials marked the environment as very or extremely important an average of 9% more that those 65 and older and those with credit scores in the Fair range did the same 6% more of the time than those who had credit scores that fell in the Good or Excellent range.

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June 9th, 2016

What Millennials with the Highest Credit Scores Have in Common

Despite the libraries of articles about how college graduates can improve their credit scores and live happier lives, the real mix of type and amount of credit and credit usage that results in the highest credit scores is still a mystery to many millennials. Credit Karma looked at the average credit card usage, limits, number of cards, inquiries and collections, plus amount of credit card, mortgage, student loan and auto loan debt for millennials in our membership of more than 50 million people to try to determine what mix resulted in higher credit scores.

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May 17th, 2016

Economic Issues? Priority May Depend on Credit Score

chart of economic and foreign policy issues based on respondent credit scores

Do people with higher credit scores tend to see foreign policy and defense spending as more important than economic issues like unemployment and the cost of higher education? A survey of over 1,000 Credit Karma members indicates that might be the case.

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March 31st, 2016

The 10 Cities Where Young Adults Have the Highest Credit Card Utilization Rate

Credit Fumble - Highest Credit Utilization Cities

Your credit card utilization rate – your collective credit card balance divided by your collective credit card limit – is an important factor used by most credit scoring models to calculate your score. Generally, lenders see that if you’re using a greater amount of available limit, there is an indicator of a greater risk of not being able to pay your debts. In general, a credit card utilization rate of less than 30 percent is recommended.

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March 10th, 2016

The 10 Cities Where Young Adults Have the Lowest On-Time Payment Percentage

Credit Fumble - Ontime Payments LOWEST

In Credit Karma’s recent Credit Fumble research, almost half of all people surveyed (47 percent) said that they had missed one or more payments on a credit card or loan before they entered their 30s. Missing payments have a myriad of potentially negative run on effects: you can incur a missed payment fee, your interest rates might rise, and it could end up on your credit report and potentially cause your credit score to fall. Banks and issuers consider how reliable you were in the past in paying your debts as an indicator in how reliable you will be repaying future debts.

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January 21st, 2016

The Credit Fumble™: More Than Two-Thirds of Young Adults Make Significant Financial Mistakes

Credit Fumble

At Credit Karma, we define a “Credit Fumble” as being the phenomenon where young adults, new to credit and many without any financial education, make largely avoidable financial mistakes. When we finished our recent research into this pattern, even we were surprised to find out that more than two-thirds of young adults we surveyed experienced at least one Credit Fumble before they turned 30.

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November 12th, 2015

Introducing Credit Karma’s New Direct Dispute Feature

Dispute Illustration

According to an FTC study, one-in-four consumers have an error on their credit report that could affect their credit score. A credit report error, such as a fraudulent account or incorrect account details, can have a powerful impact on a consumer’s financial health.

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September 8th, 2015

Nerds Behind Credit Karma: Robert

It’s time for another edition of Nerds Behind Credit Karma. Last month, we introduced you to Annie, one of our delightful Mobile Engineers. Today, you get to meet a Staff Software Engineer: Robert!

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August 19th, 2015

Introducing the “My Money Story” series

A lot of people are embarrassed to talk about their finances. At Credit Karma we want to change that. That’s why this week we’ve launched a new video series, which will run through the next few months, featuring real people talking about their journeys with finances, credit and debt.

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August 7th, 2015

About that Facebook patent…

Much attention was given this week to a recently granted Facebook patent that may open the door for the social network to create an alternative credit score system based on your social graph. Why this may not be the best idea.

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Editorial Disclaimer: Content on the Credit Karma Blog is for entertainment and information purposes only. The opinions expressed on the blog are those of the authors themselves, and not necessarily Credit Karma or its affiliates. However, Credit Karma may be compensated by companies mentioned in the Credit Karma Blog through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.

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