In case you missed the quiet rollout, Credit Karma has doubled their free credit score and credit report offerings by adding free Equifax credit scores and reports. Had it not been for the Anthem hack and me logging in to my account to look for suspicious activity on my credit report, I wouldn’t have known the Equifax addition had even happened!
The Equifax report/score is in addition to the free TransUnion credit reports that Credit Karma already offered, free TransUnion credit and home/auto insurance scores, and free credit monitoring, which alerts you in the event of any hard or soft credit inquiry, a new credit account being started, late payment updates, or any updates to your personal information.
This is timely news for those looking to monitor their credit score and history, as well as protect their identity. TransUnion and Equifax are two of the three major credit bureaus in the United States and all credit accounts are reported to them. Previously, the only legit way to get credit reports, for free, was through annualcreditreport.com. That site (set up by the three bureaus) is fine, but it has one big downfall – you can only access one credit report from each bureau per year, for free.
If you want more frequent access or have a concern that comes up, you have to pay for the additional updated report. You also have to pay for credit scores. And credit monitoring. The price of these all adds up.
With Equifax now coming to Credit Karma, you have continuous free access to both updated Equifax and TransUnion reports, which allows you to check in as frequently as you’d like to check for new activity, including new credit inquiries (a big red flag for suspicious activity). No need to tip-toe around when you pull a report and then anxiously wait another 12 months before you can pull another. I believe the TransUnion credit report updates weekly and Equifax monthly, but don’t quote me on that.
With the added free credit score from Equifax, you now have two credit scores to compare with each other. This should give you a strong general sense of where you stand in the eyes of creditors.
Here’s what the new TransUnion and Equifax credit score interface looks like, which can be found as a dropdown under the “My Overview” and then “Score Details”:
Not bad, eh? ;-)
If you want to view your credit reports from TransUnion and Equifax, under the same link, you’ll see the option to choose “Credit Report” on the right.
After choosing one of the reports, you’ll have access to a huge amount of data.
If you’re looking for areas of concern for possible identity theft, definitely check out the credit inquiries tab, as well as collections tab. Under “Accounts”, look to see what your balances are and if any are outsized.
Additionally, you’ll find plenty of data on account activity that you can take action on, including any open accounts that you thought were closed.
I’m hearing that Equifax is not quite rolled out to every customer just yet, so if you don’t see it live in your Credit Karma account, hang tight for a bit.
For more on Credit Karma – check out my Credit Karma review which goes into a lot more detail – it’s updated and I’ve been a happy member for the last 6 years.