Credit Karma Launches New Thin File Experience Designed to Help the 15 Million Americans Without a Credit Score
New product features will provide consumers without a credit score valuable tools to start building credit
SAN FRANCISCO, April 21, 2015 /PRNewswire/ -- Credit Karma, an online consumer finance platform with more than 35 million members, announced that it has begun rolling out an experience to provide free credit information and tools to a new population of consumers: the 15 million Americans who are considered by credit bureaus to be "thin files," without enough credit history to generate a credit score.
As of today, most thin file consumers that sign up for Credit Karma will be able to review what is currently on their credit report, as well as learn about why they don't have a credit score and how to build their credit history. They will also receive recommendations for credit cards and loans that might help them build their credit history and have broad access to the Credit Karma website, able to make full use of tools like its credit advice center, interest rate calculators and personal spending tracker.
"Fifteen million Americans don't have a credit score and have been left with few options for getting help with understanding and improving their situation," said Ken Lin, CEO and founder of Credit Karma. "Our new experience for thin file consumers is designed to be welcoming and helpful so these consumers can quickly take positive action to build their credit."
For Credit Karma, giving consumers without a credit score free, weekly access to their credit profile for the first time is another pioneering step in a long line of industry firsts dating back to its launch in 2008. In December 2014, it became the first company to offer consumers weekly updated, free credit scores and reports from two national credit reporting bureaus.
To create a free account, visit creditkarma.com or download the mobile app from the Google Play or Apple App Store.
About Credit Karma
Credit Karma is working to re-engineer one of the largest industries in the world – consumer finance. Beginning with a free credit score and report, the bloodlines of personal finance, Credit Karma brings more transparency and certainty to credit and finance with free monitoring, data-driven resources and personalized recommendations.
Credit Karma's mission is to help consumers have a better future by simplifying decision-making and management of personal credit and finances. Available online and on iOS, Android and Windows Phone, Credit Karma is empowering more than 35 million consumers.
Headquartered in San Francisco, Calif., Credit Karma has raised $193.5 million in financing to date, including a $75-million follow-on in September 2014 led by Google Capital, Tiger Global and Susquehanna Growth Equity.
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SOURCE Credit Karma
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