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      July 9, 2020

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Credit Karma vs Experian

Best Credit Monitoring

To help you find the Best Credit Monitoring Companies, TopConsumerReviews.com provides you with an in-depth comparison of Credit Karma and Experian.

To see ALL of our reviews for the Best Credit Monitoring Companies, please Click Here

Where is the best place to monitor your credit? In order to purchase a home, buy a car, or obtain almost any kind of loan, you need good credit and history. Falling behind on credit card payments, making too many expensive purchases, opening multiple credit card accounts, filing for bankruptcy, not paying monthly bills, and other factors may cause your credit score to drop significantly. On the flip side, staying on top of credit card payments, paying bills right away, and paying off loans are a few of the ways you can build a fantastic credit score.

Staying aware of your current credit score and proactively working to keep it up will help you, in almost all, financial aspects of your life. During the interview process, companies looking to hire may even request access to a modified credit report to check for signs of financial distress. This helps companies know if candidates may be at risk for committing theft or fraud. With new online services, you can easily access your credit score and stay on the road to financial success.

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Best Reviews

2020

Credit Monitoring Reviews

5 stars
Credit Karma

CREDIT KARMA

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Cost:

Free

TopConsumerReviews.com Best-In-Class Blue Ribbon Award Hopefully we are not the only ones who think the nitty-gritty details that make up a credit score can be confusing. Luckily, Credit Karma has a video displayed right when you land on the home page titled "How Reporting Works". From the get-go, Credit Karma makes it clear that they are an advocate for consumers who want to have healthy credit. They provide plenty of resources on their website to help make this happen for people including a credit score simulator, debt repayment calculator, loan calculator, help articles, community forums, and more.

Did we mention Credit Karma is free? Yep. 100% free. This is because when they give you access to your credit scores through credit bureaus like Equifax and TransUnion, Credit Karma will make recommendations about products that will save you money by analyzing your data. If you choose to get a product based on Credit Karma's recommendations, the lender will pay them. Essentially, they are using your personal information to advertise to you. (If this is worrisome, might we suggest you ditch all forms of internet use, since this is pretty much how marketing works these days).

Most importantly, Credit Karma provides free credit monitoring as often as you'd like. You will need to create an account and provide your personal information, including your social security number. They will then perform a "soft pull" or inquiry without affecting your overall credit score. In addition to viewing your score, you receive alerts and updates if something seems out of the ordinary. This is a great way to spot identity theft. Credit Karma will show you a graph of your credit over time and let you see how your score compares to others by age, state, and income.

Credit Karma matches you up with products and services you might need when buying a house, car, or credit card. On the website, you can read honest product reviews about the suggested companies and products from other customers. We like that some really rip on the particular credit card, insurance company, loan company, or whatever it may be, while other reviews sing their praises. These are obviously unfiltered and really let you as the customer make the best decisions for yourself.

The Better Business Bureau gives Credit Karma an A rating. Because their services are free, you really can't go wrong here. They are not selling your information, but rather using it to target you with the best credit cards or loan services available to you. Transparency is central to the workings of Credit Karma. They want you to have access to your own data and make educated decisions about your financial future. We are impressed by this business model and have therefore given them our highest rating among credit monitoring services.

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2 stars
Experian

EXPERIAN

Visit Site

Cost:

From $9.99 to $29.95/month

Experian offers a professional user experience with an easy-to-navigate website. Their services are free for 30 days and then the premium membership kicks in at $19.99/month. It is advertised that you can cancel at any time. However, many customers report that it is very difficult to cancel both the free trial and membership.

If you choose to use Experian's services, the premium product features include:

  • 3-bureau credit monitoring
  • Monthly 3-bureau updates
  • New Experian credit report (updated every 30 days) and FICO score every day
  • Experian CreditLock
  • $1 million identity theft insurance
  • Personalized support from credit and fraud resolution agents
  • Dark web internet surveillance alerts
  • Lost wallet assistance

Experian has a comprehensive mobile app that gives on-the-go access to all of their features. Other helpful resources offered by Experian are their score simulator, wallet protection, and a frequently updated blog. The score simulator that lets you see how taking out a loan, paying off a loan, or getting a new credit card might affect your Experian credit score. If your wallet is stolen, Experian will assist you in cancelling and replacing any cards. If you fall victim to identity theft, fraud resolution specialists will help file police reports and other necessary work.

One resource that sets Experian apart from other credit monitoring companies is their free "boost" feature. Experian Boost is designed to help people who are either recovering from financial setbacks or building their credit score for the first time. Users must agree to let Boost connect with their bank accounts and scan their transactions for payment information on phone and utility bills. You choose and verify positive payment history you want added to your credit file. Overtime, these payments made on time will contribute to your credit score and slowly "boost" it up.

Unfortunately, Experian has overall bad ratings from customers. The main concerns people have with Experian are their poor customer service as well as their frequent mistake of double charging people's cards each month. There are also hundreds of reports of glitches on the website when entering private information and viewing credit scores. Based on the heavily negative feedback from users, despite the professional website and seemingly impressive services, we would suggest staying away from Experian and using one of our higher-rated suggestions for credit monitoring instead.

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Continued from above

Aside from working to qualify for a loan or your next big career move, a big issue in the world today is identity theft. It is estimated that nine million Americans are victims of identity theft each year. Sometimes this can be caught by watching to see if your credit score takes a major hit. If this is the case, you can dispute the credit report and work to fix the problem. Working with a credit monitoring company that has good customer service to help you through potential issues is important.

Before choosing a credit monitoring service, we suggest you keep the following criteria in mind:

  • Cost. Will you be charged a monthly fee? How do rates compare to their competitors? Find a company that works to keep things budget-friendly.
  • Customer Service. It is important to have easy access to a knowledgeable customer service team that can clearly answer your questions. It can be frustrating to be left confused or jump through hoops to speak to an agent.
  • Resources. Is the website easy to navigate with plenty of straightforward options to manage your credit report? The company should be your advocate for helping you improve your credit score and find the lowest rates on purchases.

To help you identify the best credit monitoring service, TopConsumerReviews.com has reviewed and ranked a variety of options. We hope this information helps you find a credit monitoring company that will provide a good experience for you!

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