We've compared Credit Karma Money to two other platforms with early direct deposits: Chime and Capital One 360.Īll three platforms have checking and savings accounts with no monthly fees. In 2022, the Federal Trade Commission required Credit Karma to pay $3 million in a settlement that claimed the company misled consumers with pre-approved offers that they at times did not qualify for.

You may want to read online customer reviews or ask friends and family about their experiences with Credit Karma.Ĭredit Karma has been involved in one recent public settlement. The BBB gives Credit Karma a C rating, because the company hasn't responded to all of the customer complaints on the BBB websites and due to government action taken against the company.īBB scores aren't always an accurate representation of how you will interact with a company, though. The Better Business Bureau scores companies' trustworthiness based on responses to customer complaints, honesty in advertising, and transparency about business practices. Is Credit Karma Money trustworthy?Ĭredit Karma doesn't have any recent public controversies. Your deposits are FDIC insured for up to $5 million through Credit Karma's partner banks. If you deposit money into your savings account, you'll enter a sweepstakes to win up to $20,000. The company uses an algorithm to randomly select customers' debit card purchases to reimburse. Then you can see your credit score, upcoming bills, payment due dates, minimum payments due, and outstanding balances in your Credit Karma app.Ĭredit Karma's Instant Karma feature makes it possible for you to pocket cash. You can link your Credit Karma Spend Account to your TransUnion credit report. The Credit Karma mobile app has 4.8 out of 5 stars in the Apple store, and 4.7 out of 5 stars in the Google Play store.

With Credit Karma, you have free access to 55,000 ATMs around the US in the Allpoint network. Credit Karma Money is the company's money movement platform, and it has a checking and savings account. How Credit Karma Money worksĬredit Karma is a finance company primarily known for showing you credit scores and reports for free. Credit Karma Money Save AccountĬredit Karma Money Save Account has no minimum opening deposit or monthly fees. You could also receive paychecks and other direct deposits up to two days early. Instant Karma randomly selects customers for cash rewardsĬredit Karma Money Spend Account is a good free checking account, with no monthly service fee or overdraft fees. No minimum deposits or monthly service fees

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