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If you’re running or managing a business in the financial services industry, you’ve probably heard of Credit Karma.

Founded in 2006, the website is known as a free credit and financial management platform, offering free credit scores, reports and insights, plus tools for identifying and disputing credit report errors. It gives members access to their credit scores and reports from TransUnion and Equifax, with weekly updates, as well as analyzes members’ credit profile and makes product recommendations to help them save money.

Credit Karma provides users with the VantageScore 3.0, which was developed by credit bureaus Equifax, Experian, and TransUnion as an alternative to the FICO scoring model. While the FICO credit score is more widely recognized, the VantageScore can still give users a good idea of what their FICO scores will be.

Credit Karma Reviews

Credit Karma is also one of today’s largest financial services and banking review sites. It hosts a dedicated Credit Karma Reviews section, which features customer feedback posted by its members in order to help other finance consumers make well-informed decisions. Review categories range from credit cards and personal loan products to credit unions, home equity, and auto insurance, among many others.

Apart from being organized in various categories, Credit Karma reviews can be filtered by users by star rating, date, and number of reviews.

Reviews can be submitted by users either as a logged in member or anonymously, with the latter option requiring approval. Here’s what the “Add Your Review” form on Credit Karma looks like:

If you find that your product or service is listed on Credit Karma, there is a way for you to be able to manage and even respond to Credit Karma reviews being posted on your listing.

However, it isn’t as straightforward as signing up for a business account, the option for which doesn’t seem to be present on Credit Karma’s website. What you can do instead is sign up as a regular “member” and choose your business or product name as your user name.

To respond to Credit Karma reviews, navigate to the review you would like to respond to and look for the option to “Write a Reply.” Here’s an example of how Prosper Personal Loan actively responds to its reviews on Credit Karma:

Why Manage Credit Karma Reviews and Customer Feedback?

Online reviews are one of the most accurate indicators of customer experience for banks, insurance providers, and financial services organizations.

Not only do Credit Karma reviews and reviews on other sites have the potential to either attract or drive away customers; they are also play a major role for consumers looking to decide whether or not to trust a provider.

  • In 2012, Edelman Insights found that financial services and banking was the industry consumers trusted the least — even less than they did the media sector.
  • While the fallout from the big banking scandals and corporate collapses of previous years has since slowly faded away, a recent FIS report indicates that 75 percent of consumers agree there is still a gap between their expectations and bank performance across a range of factors essential to creating trust. “The trust factor continues to be a concern for consumers,” the report reads, highlighting the need “to reset the foundation for consumer relationships.”

One of the most effective ways to inspire trust among potential and existing customers is to monitor and manage online reviews on sites like Credit Karma.

  • In an Ernst & Young survey, respondents said reputation was a “very important” factor in deciding whether or not to trust a financial services provider.
  • When choosing where to open a checking account, 63 percent of Millennials and 54 percent of Boomers cite personal experience, reviews or recommendations as being the most influential factors.

In the face of negative reviews and social media criticism, your financial services organization may feel like rejecting online reviews altogether. However, reviews and other forms of user-generated content and customer feedback can actually be harnessed as a tool for building consumer trust.

In today’s competitive financial services landscape, the most successful brands have learned to use online reviews and customer feedback in order to drive search engine performance, gain visibility in the eyes of ready-to-buy consumers, and boost consumer engagement levels.

“Most leading companies are tracking brand sentiment and social media conversation,” says Troy Janisch, Director of Social Intelligence for U.S. Bank. “What they are overlooking are review sites such as Yelp, mobile app stores, and social media review pages. People write reviews most often because they have a really bad or a really good experience. Companies often approach review sites solely as a customer service channel, but that’s only half of the opportunity.”

For more information, read this US Bank case study and success story.  

Migs Bassig

Migs is the Content Manager for ReviewTrackers. He's a creative writer who has helped numerous companies communicate more effectively online, and he loves sharing his local marketing knowledge to help brands and business succeed.


  1. Mary Shealy

    I just un-joined Credit Karma, after more than 5 years as a member. When I first signed up it was rather unique in being a free service that gave alerts when some company checked your credit. But over the years, I have accumulated other services that give the same free alerts and credit scores. Some are through credit cards, others are just because a company had a security breach, and they provide a free monitoring service to everyone who had their information part of the breach. Then in the last few months, Credit Karma starting ignoring their own policies about sending me email. Even though I always had the box that says “Email Me Relevant offers” turned off, I started getting all kinds of useless crap about getting loans etc. And they refuse to turn those off. So it’s gone from something that was useful to something that is an annoyance. So I left.

  2. Samantha

    I think any business should be involved with the review site most catered towards their field. For financial companies this is most likely Credit Karma. Like any other review platform the reviews need to be handled professionally and address customers concerns. People are very diligent when it comes to research involving what to do with their money