Credit Karma has rolled out a new service that allows members to compare credit cards and
loans without going through the three credit bureaus.
As you may be aware, when one applies for credit, the lender will request information about
the lender’s creditworthiness from the credit bureaus. This “hard inquiry” impacts your new
credit portion of your credit score. A hard inquiry will impact those with a short credit history
more than it does those with a long credit history.
Credit Karma’s “Marketplace” service utilizes their partnership with lenders and by-passes the
hard inquiry process with the credit bureaus thereby not impacting your credit score. Credit
Karma does the work of comparing the credit cards and other loan products for which a
particular borrower would have a high likelihood of being qualified. In other words, the service
saves you time and a ding to your credit score.
More information can be found at www.creditkarma.com.