5 ms·

Credit Karma Launches Free Credit Monitoring, Enrolls 100,000 Users In A Day

41 points by FluidDjango 15y ago

citricsquid 15y ago
> Within the first day of its existence (the option became available just yesterday), the company has managed to enroll an impressive 100,000 users for the opt-in credit monitoring service. The move brings Credit Karma’s total user base to over 4 million. > Says CEO Kenneth Lin, Credit Karma is now on pace to register over 500,000 users this month thanks to the launch of the new monitoring service. huh?
- WesleyJohnson 15y ago
  - On pace to register 500,000 new users this month - Enrolled 100,000 users in the optional opt-in monitoring service (This is the new option that just became available. You can sign up for the site without enrolling in this feature.) - Total user base of +4 million.
- jtreminio 15y ago
  1st day: 100,000 registers. The company is on pace to have over 500,000 users by the end of the month. If they have 1,000,000 users, that's over 500,000, so the statement stands.
- deleted 15y ago
  [deleted]
andrewcooke 15y ago
so what's their business model? i ask because it seems like the kind of thing that would be worth knowing before signing up for something free. if i am paying for something then i am the client, but if not, am i - or my data - being used somehow?
- RKearney 15y ago
  Just like Mint does I'm sure. Their site has a ton of credit card offers to lower interest rates, balance transfers, etc. I'm sure those companies give Credit Karma a sum of money for every credit card offer someone takes up.
- jlogsdon 15y ago
  http://www.creditkarma.com/about/faq#charge http://www.creditkarma.com/about/faq#charge
  - andrewcooke 15y ago
    that's a rather weak answer that suggests that it comes down to altruism. i suspect it is incomplete.
    - ceejayoz 15y ago
      The sponsors are credit card companies, who generally give pretty decent sums - $50-$100 - for successful referrals.
CountHackulus 15y ago
Too bad it's US only. I'd love to have something email me about whenever something happens regarding my credit (for free would be best).
moocow01 15y ago
Seems that they are only using TransUnion. The one thing I've never been able to find is a place where you can pay for a full credit report from all 3 agencies WITHOUT getting automatically enrolled in some monthly monitoring BS. Credit Karma - I will gladly hand over some money if you guys offer a clean cut transaction on a full report from all 3. But on another note, this is the first credit site that makes me feel like I don't have to take a shower after visiting.
- ComputerGuru 15y ago
  There are many cheap sites that provide credit monitoring and reporting from all three agencies on a monthly basis. I get mycreditinform.com for free with my CapitalOne MasterCard. They're OK, they provide very detailed raw data and info that you can go through and read.
  - moocow01 15y ago
    But what I want is not on a monthly basis. It looks like that site is 8.99 per month while what I want is a complete snapshot without getting enrolled in a monthly payment plan for monitoring. Basically just pay once for my current credit report and nothing else.
    - dkasper 15y ago
      AnnualCreditReport.com will do what you want for free but only once per year. For $40 you can get a report from all 3 bureaus from Experian at any time. I did this once when I was renting an apartment and didn't come across any issues. http://www.experian.com/consumer-products/tribureau.html http://www.experian.com/consumer-products/tribureau.html
      - moocow01 15y ago
        Thanks - that Experian link seems to be what Ive been looking for
- encoderer 15y ago

41 points by FluidDjango 15y ago

> Within the first day of its existence (the option became available just yesterday), the company has managed to enroll an impressive 100,000 users for the opt-in credit monitoring service. The move brings Credit Karma’s total user base to over 4 million. > Says CEO Kenneth Lin, Credit Karma is now on pace to register over 500,000 users this month thanks to the launch of the new monitoring service. huh?

WesleyJohnson 15y ago
- On pace to register 500,000 new users this month - Enrolled 100,000 users in the optional opt-in monitoring service (This is the new option that just became available. You can sign up for the site without enrolling in this feature.) - Total user base of +4 million.
jtreminio 15y ago
1st day: 100,000 registers. The company is on pace to have over 500,000 users by the end of the month. If they have 1,000,000 users, that's over 500,000, so the statement stands.
deleted 15y ago
[deleted]

andrewcooke 15y ago

so what's their business model? i ask because it seems like the kind of thing that would be worth knowing before signing up for something free. if i am paying for something then i am the client, but if not, am i - or my data - being used somehow?

RKearney 15y ago
Just like Mint does I'm sure. Their site has a ton of credit card offers to lower interest rates, balance transfers, etc. I'm sure those companies give Credit Karma a sum of money for every credit card offer someone takes up.
jlogsdon 15y ago
http://www.creditkarma.com/about/faq#charge http://www.creditkarma.com/about/faq#charge
- andrewcooke 15y ago
  that's a rather weak answer that suggests that it comes down to altruism. i suspect it is incomplete.
  - ceejayoz 15y ago
    The sponsors are credit card companies, who generally give pretty decent sums - $50-$100 - for successful referrals.

CountHackulus 15y ago

Too bad it's US only. I'd love to have something email me about whenever something happens regarding my credit (for free would be best).

moocow01 15y ago

Seems that they are only using TransUnion. The one thing I've never been able to find is a place where you can pay for a full credit report from all 3 agencies WITHOUT getting automatically enrolled in some monthly monitoring BS. Credit Karma - I will gladly hand over some money if you guys offer a clean cut transaction on a full report from all 3. But on another note, this is the first credit site that makes me feel like I don't have to take a shower after visiting.

ComputerGuru 15y ago
There are many cheap sites that provide credit monitoring and reporting from all three agencies on a monthly basis. I get mycreditinform.com for free with my CapitalOne MasterCard. They're OK, they provide very detailed raw data and info that you can go through and read.
- moocow01 15y ago
  But what I want is not on a monthly basis. It looks like that site is 8.99 per month while what I want is a complete snapshot without getting enrolled in a monthly payment plan for monitoring. Basically just pay once for my current credit report and nothing else.
  - dkasper 15y ago
    AnnualCreditReport.com will do what you want for free but only once per year. For $40 you can get a report from all 3 bureaus from Experian at any time. I did this once when I was renting an apartment and didn't come across any issues. http://www.experian.com/consumer-products/tribureau.html http://www.experian.com/consumer-products/tribureau.html
    - moocow01 15y ago
      Thanks - that Experian link seems to be what Ive been looking for
encoderer 15y ago