Credit Karma vs. NerdWallet | HelpAdvisor.com (2024)

FAQs

Is Credit Karma better than NerdWallet? ›

NerdWallet only pulls one credit score from TransUnion once a week, unlike Credit Karma, which gives you two scores updated daily. You can see the factors that go into your credit score, ranked from highest impact to lowest: payment history, credit utilization, age and mix of accounts, balances, and recent inquiries.

Our writers rely on primary sources and authoritative sources, including interviews and government and industry websites, data and documents, to ensure our content is as clear and complete as possible.

The answer is, “No.” There's no catch. No strings attached. We're not a scam. You can rest assured Credit Karma has your back.

Is NerdWallet accurate? The accuracy of the information displayed is entirely dependent on the accounts you link with NerdWallet. To see the most accurate information, connect all of your bank accounts, credit cards, loans, and your home value, where applicable.

We use industry-standard security controls, such as cryptography, to protect your personally identifying information. And our partners TransUnion and Plaid do the same.

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.

At NerdWallet, we take your security seriously. We take our responsibility to protect your confidential information seriously, and use 128-bit encryption to protect your data. You can learn about NerdWallet's security practices here.

We take our responsibility to protect your confidential information seriously, using 128-bit encryption to protect your data. You can learn about NerdWallet's security practices here.

(It's free.) Any features for which a fee may be charged are optional and must be opted into.

The settlement stems from a September 2022 FTC investigation into Credit Karma's alleged use of claims that people were pre-approved and had "90% odds" of approval. The claims were made in an effort to entice people to apply for offers that in many cases they did not qualify for, the FTC said.

Is it safe to put your SSN on Credit Karma? ›

Credit Karma asks only for your name, address, birthdate, and the last four digits of your Social Security number. It doesn't store Social Security numbers, so there's virtually no risk that anyone can steal this information.

Your FICO Score is a credit score. But if your FICO score is different from another of your credit scores, it may be that the score you're viewing was calculated using one of the other scoring models that exist.

Consider whether your primary concern is tracking your finances or managing your credit score. Credit Karma is likely the best option for you if your primary concern is managing or improving your credit score. If your primary concern is budgeting and finance tracking, NerdWallet is likely the better choice.

The best alternatives to NerdWallet are Paperform, Wanted, and Ramp.

NerdWallet recommends the 50/30/20 budget, which suggests that 50% of your income goes toward needs, 30% toward wants and 20% toward savings and debt repayment. Monitor your credit, track your spending and see all of your finances together in a single place.

Checking your credit score on NerdWallet only prompts a soft inquiry on your credit report - not a hard inquiry - and will never impact your score in any way, no matter how often you check it. This article includes more detail about this: Does Checking My Credit Score Lower It?

In addition, each of the three national consumer credit bureaus offers its own scores, which are usually provided by VantageScore. VantageScore is a legitimate credit score in its own right, but the scoring model is weighted differently than FICO, which is why it produces different scores.

NerdWallet does not sell your account information to third parties, nor do NerdWallet employees have the ability to see or access your account details.

Becoming a registered user of NerdWallet is free and gives you a dashboard displaying your finances. You can get a TransUnion credit score and link financial accounts to track cash flow and net worth. There's also a free app you can download for easy access anytime.