Credit Karma Savings Feature

posted 3 years ago in The Lounge
Post # 3
Hostess
22135 posts
Honey Beekeeper
  • Wedding: July 2011

I’ve not used them but I’ve used Credit Karma. My guess is that they’re likely third-party sponsors. Maybe someone else knows a bit more?

Post # 4
Member
920 posts
Busy bee
  • Wedding: June 2015

The ones that have appeared for me have always been credit cards. For example, it was a balance transfer offer that would give me a low starting APR. However, it showed me how much I would “save” by opening a Discover card, and I already have a Discover card… some of them seem just like general advertisements. I personally would avoid and debt consolidation or new credit cards from banks that I am not familiar with. 

 

That at is basically how the site makes money, those are paid ads. 

Post # 5
Member
920 posts
Busy bee
  • Wedding: June 2015

However let me add, I do think some of their savings offers could actually be good for different people. I think you just have to look at it carefully!

Post # 6
Member
2052 posts
Buzzing bee

@BeckyS0:  I’m looking to refi my auto and I’m on credit karma every week. I have not used their auto refi vendors yet. (i have a 24% apr BUT its the first car in my name only)

I also have been meeting with Ayco who told me about bankrate.com so you can compare different aprs and refi optios.

I applied to one bank, didn’t get approved (ugh)….if nothing else comes along I’ve decided to resort to the credit karma companies.

PS-they did suggest a secured card through capital one….so i opened an acct, and my credit rating increased about 50 pts….i guess i can also take out a similar loan through my bank to increase my credit.  (been working on my credit for YEARS and finally progress lol)

Post # 8
Member
573 posts
Busy bee
  • Wedding: April 2014

I agree with PP’s, I LOVE credit karma and since I’ve been using it, my score has gone up almost 50+ points!

I’ve looked at their recommendations for re-fi or credit cards, and even called one just because I was curious. Basically if you use them right, they will work. 

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