Credit Karma has a lot features for its users such as credit card approval odds, lower car insurance options, value of your car, home mortgage options and more. One of my favorite features is the credit score simulator which allows users to determine their rise in credit score based on future amounts they would like to apply to their credit debt. Today we will feature Credit Karma Savings Account.
Credit Karma allows users to open up a Savings account with a 0.40% APY. Credit Karma allows individuals to check their credit score from Equifax and Transunion as many times as they want without a penalty.
The annual percentage yield at Credit Karma is 6 times higher than the national average and this is how you save money. Users will receive a 0.40% APY which is interest your money in your savings account can earn. Simply put placing your money in a credit karma savings account will give you more money in the end of the year.
Credit Karma savings feature allows users to set up automatic payments from their checking accounts to be sent directly to their credit karma savings account. The best part is individuals decide how much money and how often they would like the payment to be sent to their savings account.
There is no monthly maintenance fee and you don’t have to put a minimum amount in the account to open it as compared to most banks with a savings account option.
Credit Karma has over 100 million followers who benefit from the free features of the website.
To apply is very simple and can all be completed in the comfort of your home. If you sign up, let us know how it works out for you. To learn more check out this detailed article from Business Insider.
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