How Does Credit Karma Make Money?

CREDIT KARMA WEBSITE Full Article

Credit Karma is a service that allows you to improve your financial wellbeing and credit worthiness.

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Its free credit scoring and monitoring reports became one of the key growth pillars when the service first launched back in 2008.

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The founders, led by CEO Kenneth Lin, raised over $868 million in funding throughout its existence.

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Credit Karma’s continuous success prompted software giant Intuit to spend $7.1 billion in 2020 to acquire the service. Full Article

But how does Credit Karma, which is completely free to use, actually make money?

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Bank and lending partners pay Credit Karma a fee whenever you sign up or click on one of the offers that it promotes.

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INTERCHANGE FEES

Credit Karma offers a debit card to account holders. It collects interchange fees whenever users pay with the card. CREDIT KARMA WEBSITE Full Article

Unused cash held within your account is deposited into interest-bearing bank accounts.

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