Credit Karma Introduces Insights For Clear Account Management and Bill Tracking

Years ago I wrote about Mint.com, an awesome system that I’ve been using since beta to track all my finances online. Mint offers the ability to easily add financial institutions to your account, see deposits and withdrawals as well as get notified of upcoming bills. Mint is now a veteran in the account management space and have a huge following  but their system is lacking in a few areas, specifically anything beyond account management.

For credit monitoring, I’ve been using Credit Karma for years now. They offer your credit score, free. Along with your credit score, their platform gives you a credit report card, indicates areas where you can improve your credit, alerts you when your credit score is out of date or when a significant change is reported.

Credit Karma’s revenue model is similar to Mints in that products are suggested to you when you sign into Credit Karma, based on your financial profile. Credit cards, mortgages and other financial products are shown with ratings by the community and if you happen to sign up for one of them, Credit Karma gets a commission.

But in the past, there has been very little overlap between these great programs. I was happy to use both of them for their specific purpose. That is until today as Credit Karma has released a new feature to new and current users that pretty much does everything Mint can do and more.

Because of the service Credit Karma already provides, adding account management puts them ahead of the game. Now you can view your credit score and report card, link your financial institutions to Credit Karma to view transactions, get reminded of upcoming bills and finance charges as well as connect the old and new features of Credit Karma together.

What I mean is, you can now connect your financial institutions directly to your Credit Karma credit report. This provides a much clearer view of your financial data, how your spending habits affect your credit score and much more.

As you can see in the following video, the beautiful interface that Credit Karma has always provided for viewing your credit score data has been extended seamlessly to the new Insights area of the platform which looks similar to Mints interface. You are able to clearly see your accounts, debts, assets and net worth along the left side. Then you can check out transaction details, graphs about your financial habits and upcoming bills in the center of the page.

Now I have a difficult decision to make. Do I switch entirely over to Credit Karma and ditch Mint altogether for a new platform that consolidates everything I’ve been using two sites for in the past? Or do I continue to use both?

What do you think guys, will you be using Credit Karma Insights?

 

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8 People have left comments on this post



» Kevin Watts @ Graduating From DebtNo Gravatar said: { Sep 18, 2013 - 10:09:50 }

Good information. I have been using Mint.com for two years. I hard about Credit Karma, but never used it. After reading your post, I talked with some of my friends. They also said its very effective. I think I would like to give a try to Credit Karma, and use both the site. If I like it then I may switch entirely. Thanks mate for your useful post.

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» Andrew HayesNo Gravatar said: { Oct 7, 2013 - 02:10:08 }

Do you have any plans to replicate Mint?

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» Jon@2-copper-coins.comNo Gravatar said: { Nov 24, 2013 - 09:11:18 }

Credit Karma is a great site, and it is becoming an even better one with these additions. I would say that if you can have all your info in one place, that is excellent. I too use mint and I probably wouldn’t change because I don’t know if my transaction history would go with me. Also I use Turbotax for my taxes and it can update seamlessly from Mint. This does represent a real challenger to Mint.com.

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» Venktesh ThirumanneNo Gravatar said: { Mar 30, 2014 - 11:03:14 }

Credit Karma is working very hard to make things clear in financial stuffs. This presentation is way good for accessing the clear data and graphic records. Libertarian news sites and executive news updates were always the interest of the folks and thus we love to be a part of credit karma here. Thanks

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» Rubber FlooringNo Gravatar said: { May 20, 2014 - 05:05:59 }

Great post i really like this tool but i think most eminent agile tools are missing. please i i don’t work for Silver Catalyst, and I only have a basic account, but I just like what it does – it gives me what I need.Now You can Get big discount on Gym Flooring Services From Us.

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» John @ Wild AboutFinanceNo Gravatar said: { Jun 29, 2014 - 08:06:13 }

Credit score Seo is working very hard to make things obvious in financial items. This demonstration is way good for obtaining the obvious information and visual information. Libertarian information sites and professional information up-dates were always the interest of the people and thus we love to be a part of credit juice here.

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