Nov 14, 2016
Credit Karma invited more than 1,000 of our more than 60 million members to take a quiz designed by our own Chief Consumer Advocate, Bethy Hardeman, to see how many understood how credit works. Some financial concepts are better understood than others, we discovered.
Oct 20, 2016
A recent Credit Karma survey of “adulting” activities found that the only maintenance task the majority of respondents reported as regularly performing was taking their cars in for service. Overall, people are as vigilant about monitoring their credit rating as they are about going to the dentist, even though both are preventative steps that can save thousands of dollars and a lot of future pain.
May 12, 2016
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.
Mar 31, 2016
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.
Feb 3, 2016
Missing a utilities bill or credit card payment happens more than we’d like to admit. Letters requesting payment can be tossed in the recycling bin, caller ID can make it easy to avoid phone calls, but the debt does not disappear. After a few months it may be sent on, or sold, to a collections agency for payment, leaving a derogatory mark on a credit report that may stay there for seven years or longer.
Dec 17, 2015
A recent study showed that car ownership was declining in America, but with over 90 percent of households still owning a vehicle, it clearly still plays a major role in most people’s daily lives. Millennials are more likely to be interested in things like ridesharing than older generations, but a large number of them are still buying cars.
Dec 3, 2015
There’s a prevailing cliche that exists about Millennials: they’re prone to living beyond their means, credit-illiterate and slightly irresponsible, enjoying the spend-now, consequences-later era of their early youth. New data shows that may not be true.
Sep 11, 2015
Consumer debt levels keep hitting all-time highs. But Credit Karma data looking at average consumer debt for our more than 40 million members shows there are still some cities where borrowing isn’t spiking so high.
Sep 4, 2015
Consumer debt breaks down into a few different areas. People can borrow to study, buy a home, finance a vehicle, or make everyday purchases. An analysis of Credit Karma data from our member base of more than 40 million consumers reveals the 15 cities in the US where our members have the highest average amounts of consumer debt.