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 the millennials in our membership of more than 50 million people to determine what mix resulted in higher credit scores.
San Francisco-based personal finance company Credit Karma was recognized in the Best Financial Technology Company category at an awards gala on May 24, 2016 by The San Francisco Business Times in its annual Tech and Innovation Awards.
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?
Taxes aren’t important just one day of the year. A recent poll has found that voters want a presidential candidate who will focus the rhetoric on the piece of their paychecks going to Washington every payday. How important that is as an issue may depend on your credit status.
Note to presidential candidates. Forget about hand size and wife bashing. The majority of potential voters want to know what you are going to do about Social Security, healthcare and taxes. A recent Credit Karma survey showed respondents – including more than one in five undecided voters – are actually united on the issues they say are their top priorities.
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.
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. Where are millennials doing the best job maintaining financial health today?
The number eight is a symbol of good financial fortune and prosperity in Chinese culture. When you consider Credit Karma’s impact on American consumers over the last eight years, there may be some significance to the number eight.
Borrowing to pay for a college or university education can also be a major source of financial strain for young adults. According to Credit Karma’s Credit Fumble™ survey, 32 percent of all loan defaults were on student loans.
Credit Karma’s new app redesign, available now on both Android and iOS, features direct, specific and proactive product features that will help members live their best financial lives.