Is Credit Karma as good as Mint? (2024)

Is Credit Karma as good as Mint?

Mint has more budgeting and wealth features than Credit Karma. Intuit is moving Mint's 3.6 million customers to tapping into its higher score customers. (Mint is shutting down, and it's pushing users toward Credit Karma ). Some will only need a credit score monitoring service others will need budgeting and planning.

Will Credit Karma do the same thing as Mint?

While Mint's budgeting tools are not available, Credit Karma does have several money management features which will allow you to view your current month's spending broken down by category, your average spending in each category, and how much your current month's spending differs from the same period in the previous ...

How accurate is Mint?

All scores are as up-to-date as possible based on your financial situation at the time of inquiry. All scores are industry-rated as provided through TransUnion. All information is strictly confidential and secure.

How many points is Credit Karma off?

In some cases, as seen in an example below, Credit Karma may be off by 20 to 25 points.

Why is Credit Karma 100 points higher?

Credit Karma uses a different scoring system than the one mortgage lenders use. There are two main scoring systems: FICO – it was created in the 1950s and is used by mortgage lenders. VantageScore – it began in 2006 and is what Credit Karma uses.

Why is Intuit getting rid of Mint?

Monarch's chief executive and co-founder, Val Agostino, said that it did not make sense for Intuit to continue to invest in both Mint and Credit Karma given the significant cost of running data-aggregation and personal finance apps. “Mint has always been a money loser,” Mr.

Is Credit Karma a sham?

A: Credit Karma is a legitimate company; however, for a variety of reasons, its scores may vary greatly from the number your lender will share with you when it checks your credit.

How accurate is Credit Karma?

Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.

What are the cons of the Mint app?

Is Intuit Mint going away?

Mint, a budgeting app acquired by Intuit in 2009, is shutting down come January 1, 2024. Mint shows users an overview of their financial well-being by displaying the current status of multiple linked accounts on one screen. Users can track spending and savings, create customized budgets and keep track of bills.

What is a 750 credit score on Credit Karma?

A 750 credit score is often considered very good — or even excellent.

Why is my credit score 100 points different on Credit Karma?

Some lenders report to all three major credit bureaus, but others report to only one or two. Because of this difference in reporting, each of the three credit bureaus may have slightly different credit report information for you and you may see different scores as a result.

What is the best app to check your credit score?

Is 650 on Credit Karma good?

A 650 credit score is generally a fair score. While a lot of people have fair scores, you may still find it difficult to get approved for credit without high fees and interest rates with a score in this range.

Is Experian or Credit Karma more accurate?

Experian vs. Credit Karma: Which is more accurate for your credit score? You may be surprised to know that the simple answer is that both are accurate. Read on to find out what's different between the two companies, how they get your credit score, and why you have more than one credit score to begin with.

Do banks use TransUnion or Equifax?

According to Darrin English, a senior community development loan officer at Quontic Bank, mortgage lenders request your FICO scores from all three bureaus — Equifax, Transunion and Experian. But they only use one when making their final decision. If all of your scores are the same, the choice is simple.

Is Mint going away in 2024?

Intuit has announced it will shut down the personal finance app Mint on January 1, 2024. Intuit is asking Mint users to move to Credit Karma, one of the company's other personal-finance platforms.

Why is Mint becoming Credit Karma?

While Mint has had its problems with privacy, synchronization with banks, and customer support, it was free and had, Intuit claims, 3.6 million monthly active users as of 2021. Credit Karma, which is where Intuit wants you to go, offers credit scores, reports, and monitoring.

What will happen to my Mint account?

Mint recently announced: “Reimagining Mint as part of Intuit Credit Karma will expand our capabilities,” which is them trying to put a positive spin on the fact that they're shutting down their budgeting app capabilities—and Mint budgeters won't be able to access their budgeting accounts or continue budgeting starting ...

Why not to use Credit Karma?

The FTC said that Credit Karma falsely claimed that consumers were "pre-approved" and had "90% approval odds" to get them to apply for a credit card. According to the FTC, nearly one-third of people who applied for those offers were ultimately denied and that misrepresentation impacted their credit scores.

Why is Credit Karma not correct?

If your Credit Karma score isn't accurate, the problem is probably elsewhere. That is, one of the bureaus made an error or omitted information. Or, the information might have been reported to one bureau but not others.

Is there a risk to using Credit Karma?

We're not going to keep you in suspense. Yes, Credit Karma is safe for you to use.

Where is the best place to check your credit score?

If you want to take a look at your credit reports from Equifax and TransUnion, you can do so on Credit Karma. The Fair Credit Reporting Act entitles you to one free copy of your credit report from each of the three major consumer credit bureaus every 12 months. You can order them online at annualcreditreport.com.

What is the most accurate credit score site?

Equifax. Equifax, one of the three credit bureaus, is one of the strongest sites overall, despite the monthly fee. It offers credit scores and reports from all three bureaus, educational resources, and identity protection.

Why is my FICO score so low compared to Credit Karma?

This is because Credit Karma makes use of another credit scoring model compared to many lenders and possibly does not have access to all the data required to calculate your credit score. Furthermore, credit ratings from various sources can differ due to dissimilarities in the data used for their computation.