Credit Karma Introduces Credit Simulator
Back in February I did a review of Credit Karma, the site where you can get a free look at your credit score. They recently sent me an email telling me about a new feature they’ve added to their site called the Credit Simulator. The neat web application can show you the impact various actions will have on your credit score.
For example, if you were to take on a new car loan or a new credit card, it will tell you where your score would be likely to go. It will also tell you where you score will go if you pay off your debts or fail to pay. While the simulation isn’t 100% accurate it can help you gauge and understand what can affect your credit score. With consumer credit becoming tighter it’s going to be more and more important for you to understand how your credit score works.
This new credit score simulator tool seems pretty good although I had it time out on me a few times and some options didn’t seem to work quite right. I guess they’re still working the kinks out of it. As a software developer myself I know how that can be.
I like the overall improvements they’ve made to the site since my original review back in February. They’ve done a better job of targeting their offers toward the credit and financial consumer, although some general non-financial, high paying, affiliate offers pop up from time to time. They’ve added an article section that has some decent articles on personal finance as well as a blog. It looks like they’ve also done many other minor, incremental, improvements to the site.
If you live in the US and want to not only keep track of your credit score but also get some insight into how you can affect your credit score for good and bad, check out Credit Karma.
Hmm… Does it have an option to simulate filing bankruptcy? While it is not a funny to do in real life, it might be interesting to see what this simulator spits back out at you!
It does seem like a useful tool, though, and I may just have to check it out.
Hi Milkman,
Yes, it does have bankruptcy and late payments as part the simulation.
[…] OpTempo writes Credit Karma Introduces Credit Simulator. […]
That sounds like a pretty good site: anything that makes people think before they take on more debt, espcially in current times must be good!
People need to take control of their finances more now than ever. Everything we do will have an impact and it’s good to have an idea of where we’re at.
Nice Find Frank!
I signed up with your code.
score = 720 & rising!
People need to control their finances, I think I will signed up using your code
Wow, great tool. I’ll sign up and give it a squizz. Thank you for the heads up. I’ve been struggling with my credit score lately and would like to know what it is that’s really making my credit score so terrible lately. This couldn’t have come at a better time than now.