San Francisco-based Credit Karma is expanding to offering “thin file” consumers access to the information in their credit files and details on why they do not have a credit score. The information site will also offer recommendations.
They will also receive recommendations for credit cards and loans that might help them build their credit history and have broad access to the Credit Karma website, able to make full use of tools like its credit advice center, interest rate calculators and personal spending tracker.
Credit Karma estimates 15 million Americans are considered by credit bureaus to be “thin files.”
For Credit Karma, giving consumers without a credit score free, weekly access to their credit profile for the first time is another pioneering step in a long line of industry firsts dating back to its launch in 2008. In December 2014, it became the first company to offer consumers weekly updated, free credit scores and reports from two national credit reporting bureaus.
Credit Karma has 35 million members.
Headquartered in San Francisco, Calif., Credit Karma has raised $193.5 million in financing to date, including a $75-million follow-on in September 2014 led by Google Capital, Tiger Global and Susquehanna Growth Equity.