From credit building to wealth building – Credit Karma expands product to help consumers at every point in their financial journey
Credit Karma, the consumer technology platform with more than 120 million members in the U.S., announced Net Worth, a new product experience within Credit Karma that will help millions of members know, grow and protect their wealth. The introduction of Net Worth brings the company one step closer to becoming a full-service personal finance management platform, with products and features to help every American make progress, no matter where they are on their financial journey. Net Worth is being rolled out to U.S. consumers with a credit score of 720 or above, with the goal to expand to a larger population over time.
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“Before we can help consumers grow their net worth, we’ve built a seamless product experience that gives consumers a holistic view of all of their financial accounts, directly within the Credit Karma app.”
WHY NET WORTH?
Credit Karma has played an instrumental role in helping its members make financial progress by helping them overcome common financial hurdles like paying down debt, building credit or opening their first checking and savings account. Credit Karma recognizes no individual’s financial situation is the same and, as Americans graduate from one phase of their financial journey to the next, they’re met with a new set of financial challenges and are looking to build on the financial success they’ve achieved. These members likely have good credit and the ability to save money each month, yet still lack the confidence to maximize their money and plan for the future. Net Worth will put a person’s full financial picture into perspective so members can feel confident in making decisions to grow their money.
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BUILDING ON MINT’S SUCCESS
To bring this to life, Intuit’s Mint business has joined the Credit Karma team to build its Net Worth experience, combining Mint’s more than 15 years of product experience helping consumers effectively manage their money. This marks the latest milestone in Credit Karma’s journey of championing financial progress for all, and serves as yet another example of how Intuit is accelerating Credit Karma’s ability to deliver greater value to members, as well as those who are not yet on the Credit Karma platform.
“Credit Karma’s mission is to champion financial progress for all, but we know that financial progress looks different for everyone,” said Kenneth Lin, CEO and founder of Credit Karma. “This next evolution of Credit Karma will combine the expertise and momentum generated by Mint with Credit Karma’s scale and technology, and enable us to help more Americans, in particular those who are faced with a new set of financial challenges and are looking to elevate and protect their net worth.”
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