CreditKarma already provides free credit scores to consumers. It now is offering free credit monitoring. Consumers now pay about $15 a month for such a service, CEO Ken Lin wrote to me in an email.
“Consumers are paying over $1 billion a year for the same service that we will be giving away for free,” Lin says.
The company says it will monitor reports daily and emails consumers if there is a significant change, such a new credit inquiry. You can opt in online.
CreditKarma says it doesn’t make money charging consumers.
“All of our services are free. We make money by selling adverting on the site. Like a Google. We also never sell or share user data,” Lin says.