Credit Karma was started in 2007 by Kenneth Lin, the current chief executive, and two co-founders, after Mr. Lin had trouble acquiring his own credit score. Until about a decade ago, consumers generally had to buy a credit score directly from the three major credit bureaus. In addition to providing credit scores from TransUnion and Equifax, Credit Karma offers advice on how the scores could be improved by doing things like lowering credit card balances. The company made its money by offering its customers new credit cards and online loans, based on their credit scores. When customers accepted the offers, Credit Karma would receive payments of a few hundred dollars, though it closely guarded the details of these deals.

Source: New York Times February 23, 2020 21:22 UTC