Time for Dave to “Eat Crow:” Quizzle is worth your time…

I don’t like admitting more than anyone that I was wrong – but I was, and it is time to own up to it. Basically, take everything I wrote in the post, “Goodbye Quizzle, Thank You CreditKarma” out the window except for my applause for CreditKarma – which remains a great service.

I had decided Quizzle wasn’t worth the work because they only allowed one to pull a credit score once every six months whereas CreditKarma lets you do it every day if you wish. I was corrected by a representative from Quizzle who informed me that Quizzle offers not just credit scores but credit reports. So while I think it would be great if Quizzle let me update my credit score every day and view my credit report every six months – the point is that Quizzle does have something really valuable to offer: free credit reports.

What is the difference? A credit score is a number that gives you an idea of how good your credit rating is compared to everyone else’s credit score. A credit report tells you what exactly is contained in your credit file. This is a valuable service and one that I don’t think you can get anywhere else for free – except annualcreditreport.com – but that is only once a year.

So color me embarrassed, I re-endorse Quizzle, and am using my account…and you should too.

Goodbye Quizzle, Thank You CreditKarma.

Update: Scrap this post entirely and read my post on eating crow and why Quizzle is actually worth your time here.

Image representing Credit Karma
Image via CrunchBase

In 2010 I wrote about free credit card reporting services Quizzle and CreditKarma. At the time I recommended using them both – and while that still can’t hurt, I have to say for me personally it is time to say goodbye to Quizzle and depend more fully on CreditKarma. Why? Well, a few quick reasons:

  1. Quizzle is freemium. They let you refresh your credit card score once every six months…CreditKarma lets me refresh it all day if I want. Quizzle charges for extra refreshes – CreditKarma is nice and free.
  2. Okay…really, that is the big reason, but I’ll also throw out there that I’m not particularly impressed with Intuit (which owns Quicken which owns Quizzle), in fact I’m downright disappointed. They’ve neutered a leading innovator in online money management (Mint) through failing to develop it further[1] and their products, generally, over significantly overpriced (yikes, QuickBooks!). I don’t expect to see industry leading innovations from Intuit – they are a big behemoth that takes its time turning, like so many established enterprises – I generally prefer to look to the quick and nimble companies.[2]
  3. I don’t need Quizzle’s emails in addition to CreditKarma’s. I already have information (and email) overload…so this is an easy way to trim down the fat.

So, if you want to keep checking two credit reporting services – keep Quizzle…but to simplify life, I find CreditKarma to be more than sufficient.

  1. [1]Yes, yes, some features have been added…but I’ve almost stopped using it since better tools have been released…
  2. [2]Thanks to Pete who pointed out that I was wrong about the relationship between Intuit and Quicken Loans…while they share branding this is a licensed relationship rather than a sub-entity, etc.

CreditKarma offers Free Credit Reports and Credit Monitoring, Oh My!

Credit is a mysterious and oftentimes frustrating entity that exists out there and yet affects us.

Image representing Credit Karma
Image via CrunchBase
  • If you don’t use credit you won’t have a credit score, which means you won’t be able to get credit when you need it.
  • If you use credit but go through a tough patch or for whatever reason get some dings on your credit you’ll experience skyrocketing interest rates and a rampant tightening of available credit.
  • If someone happens to steal your credit card – physically or virtually – you may not know until significant funds have been expended.

For a long time it was very difficult to even know what your credit score was…sure you could send away for one in the mail, but it cost money. Only in recent years did government regulations require the credit agencies to provide consumers with a copy of their credit report for free annually (if they requested it).

Thankfully, as in so many other industries, a technology company has managed to turn the established industry on its head overnight…Yes, I’m talking about CreditKarma.

CreditKarma is a nifty little site I’ve been using since whenever they came out – ohh, might have been a year or two or three ago. I joined b/c they offered free credit scores. Now granted, this is a little different from a credit report. This tells you what your credit score is (numeric) but not all the nitty gritty on whom your lenders are, how much you owe them, and so on….but for most purposes this is plentiful and unlike Quizzle (owned by Intuit/Quicken) you can refresh your score as often as you want for free.

Now they have made available free credit monitoring. Used to be you had to pay between $5-$20/mo. to get credit monitoring to make sure someone wasn’t stealing your identity or that false charges weren’t being added to your report. Now CreditKarma has made it free.

CreditKarma has a bunch of other nifty features…but instead of me describing them all why not just go sign up and try it out for yourself? Its 100% free and it takes less than five minutes from start to “hey, that is my credit score and I’m getting free credit monitoring.”