Credit Karma is 100% free, and you can get access to your credit scores and reports from two of the three major consumer credit bureaus, plus credit monitoring, insights, recommendations and more. Credit Karma Money Save is a high-yield savings account,1 with no fees and no minimum to open.

Start saving in minutes with Credit Karma Money™ Save. Open an account now. You can read about your account's interest rate in the Credit Karma Savings Agreement online, or in the Credit Karma App by navigating to Money > Settings > Agreements > Credit Karma Savings Agreement.

Credit Karma is always free. Credit Karma won't ask you for your credit card number during the registration process or at any other time. We don't ever sell your information. We do get paid through our partners if you get a product through one of our recommendations.

Once you are logged in, follow the steps below to create your Credit Karma Money Save account:

1. Navigate to the Savings page.
2. Select the option to Start saving.
3. Confirm your mailing address.
4. Confirm your full Social Security number.

A Karma Guarantee that you see on a credit card offer on Credit Karma means that if you are declined by the applicable lending partner for that credit card, you can receive a payment from Credit Karma (“Cards Karma Guarantee”). It is not a guarantee of approval for any credit card offer.

Credit Karma Money Safety and Security The FDIC insures deposits and examines and supervises financial institutions for safety and soundness. Credit Karma Money Spend accounts and Credit Karma Money Save accounts are banking products with deposits insured by the FDIC.

MVB Bank, Inc. Credit Karma is not a bank. We partner with MVB Bank, Inc., Member FDIC, to provide banking services supporting Credit Karma Money™ Spend and Credit Karma Money™ Save accounts. When you open a Credit Karma Money™ Spend account, your funds will be deposited into an account at MVB Bank, Inc. and its deposit network.

Build Credit Repay us for the savings deposit. Your regular payments are reported to the three major credit bureaus, which could help you increase your score in 4 days of starting your plan.

Cons

• Only two credit bureaus included - Since your Experian score and report may be different, Credit Karma doesn't offer the whole picture.
• Lots of product recommendations - Credit Karma's partners keep popping up with ads for loans and credit cards.

If you have an 650 credit score, you are generally considered a subprime consumer, but it won't necessarily prevent you from borrowing money. The average FICO credit score in the United States is 714 as of 2021, and scores within the 580-669 range are considered to be “fair” credit.

Is your money safe in a Credit Karma Savings account? It should be noted that Credit Karma isn't a bank and it has no intention of entering the banking industry. But don't worry, your money will still be insured by the FDIC up to $5 million.

If you aren't approved for a credit card offer with the Karma Guarantee, we'll send $50 your way.