Credit Score Basics > How to check your credit score with Credit Karma

How to check your credit score with Credit Karma

Wollit Team3 minute read · Updated 1st July 2024

Credit Karma is a website that works with TransUnion, one of the three main credit reference agencies in the UK, to give you access to your credit report and score for free.

Here is how to use it to check your TransUnion credit score.

How do I sign up to Credit Karma

To start using Credit Karma, you need to sign up for an account. Here's how:

Visit the Credit Karma website and click on "Sign Up" in the top right corner.
Create an account with your email address and choose a secure password.
Enter your personal information, such as your name, date of birth, and address.
Verify your identity by answering a few questions about your credit history.
Once your account is created, you can access your credit score and report for free.

How do I check my credit score after I signed up?

After signing up to Credit Karma, you can check your credit score and report by following these steps:

Log in to your Credit Karma account.
Click on "Credit Score" to view your current credit score from TransUnion.
Click on "Credit Report" to view your full credit report, which includes information about your credit history, such as open accounts, payment history, and credit inquiries. All of these things have an impact on your credit score.

Is Credit Karma really free?

Yes, Credit Karma is completely free to use in the UK. The company makes money by recommending financial products to its users and earning a commission, but it doesn’t charge anything to give you access to your credit score and report.

What does my Credit Karma credit score mean?

Credit Karma uses the TransUnion credit score, it doesn’t calculate one by itself. That’s because TransUnion is a credit reference agency, while Credit Karma is simply a credit monitoring service.

To understand the number that Credit Karma shows, you need to understand the TransUnion credit score.

The TransUnion credit score ranges from 0 to 710, and it’s split between five bands, each with its own implications for your ability to get credit:

0 to 550 is the “Very Poor” band. If your credit score falls here, then expect to be refused by most lenders.
551 to 565 is the “Poor” band. You might get approved by specialised lenders, but expect very high interest rates and low credit limits.
566 to 603 is “Fair”. You might get approved by many lenders, but expect high interest rates and tight conditions as well.
604 to 627 is “Good”. You will get approved by most lenders but might not get the very best deals.
628 to 710 is considered “Excellent”. Expect to be approved by all lenders and get the best interest rates available. However, this doesn’t guarantee you’re going to actually get the loans – lenders look at whether you can afford the loan as well, not only at your credit score. Factors that affect your credit score

What does my Credit Karma credit score depend on?

The TransUnion credit score that Credit Karma shows is based on several factors, including:

Credit utilisation: The amount of credit you're using compared to your total available credit.
Credit history length: The age of your oldest credit account and the average age of all your accounts. Lenders want to see that you don’t close and open new accounts often.
Credit mix: The variety of credit types you have, like credit cards, loans, and mortgages. Lenders want to see that you can manage multiple kinds of debt well.
New credit: The number of recent credit applications and new accounts you've opened. If you’re suddenly making new applications, lenders might think that you’re struggling and looking to use credit to cover basic expenses.
Credit history. This is by far the most important factor that goes into your credit score calculation. Lenders want to see that you can make repayments on debt consistently and without missing any of them.

This is why, if you want to improve your credit score, you should start from your credit history. The good news is that now there are many apps that can help you build and improve your credit history.

One such app is Wollit. Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies, including TransUnion. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

Checking your credit score with Credit Karma is great, but if you’re looking for an app that can actually improve it, you might get more mileage from a credit-building app like Wollit.