Credit Karma has launched a new Direct Dispute feature to help people seamlessly dispute credit report errors directly from their free credit report with just a few clicks.
In a rollout to an initial group of users, Credit Karma has facilitated more than 600,000 disputes. Eight-seven percent of disputes filed ended successfully with a change to a member’s credit report, with a median resolution time of five days. As with everything available from Credit Karma, use of Direct Dispute is completely free.
Credit Karma’s Direct Dispute feature is a streamlined, proactive integration of a dispute resolution feature to date, giving consumers both the context to understand and identify errors and the means to dispute them immediately. Until now, the process has been more complicated, with consumers often left having to write letters or employ a professional to petition the credit bureaus to remove an error.
While viewing their TransUnion credit report within Credit Karma, members can dispute an account error by completing a simple online process with only a few simple clicks. TransUnion, one of three major national credit bureaus, is then directly notified. When a member files a dispute, the credit bureau makes an initial assessment and forwards the dispute for further investigation to the relevant financial institution or agency that provided the account information.
If the review results in an update to the disputed report, the company that provided the information is also obligated to notify the other major bureaus it reports to of the correction.
For data, background and forecasts on Credit Karma: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).