Skip to main content

Credit Karma actually helps users find unclaimed!

Image result for credit karma
Since being founded a decade ago, Credit Karma has worked to help users better understand their credit scores and improve their financial health. Today the company is launching a new product that helps find unclaimed money they might not even have known was owed to them.

There’s more than $40 billion in unclaimed cash in the U.S., which comes from stuff like uncashed paychecks, forgotten bank accounts, unclaimed refunds and insurance payouts that were never collected. After a company or financial institution loses touch with a person it owes money to, that cash is considered abandoned handed over to state governments until it’s claimed.
With Credit Karma’s Unclaimed Money product, users can search for funds the states they live in are holding onto. And if they’re Credit Karma users, they can sign up to have the company proactively notify them of unclaimed cash that appears later.
The release of the new product comes about a year after Credit Karma quietly acquired a startup called Claimdog. Founded in 2015 by Manu Lakkur and Devin Finzer, that company sought to reduce the friction associated with searching for and reclaiming money currently being held by state governments.
While individual states each have their own database that residents can search, the Claimdog founders worked to build a single page where users could quickly search multiple places they might have previously lived.
The founders decided to join Credit Karma, though, in part because it already had a huge number of users that would benefit from a product like Claimdog.
“The critical piece is that most unclaimed money doesn’t have up to date contact information,” Lakkur said. But Credit Karma, he pointed out, has all of your previous addresses and can monitor those previous addresses for unclaimed money.
In checking against its database, Credit Karma was able to find $75 million in unclaimed funds for more than 600,000 of its users — and that was just in California.
For Credit Karma, keeping tabs on unclaimed cash is just one more feature it can add on top of its existing credit monitoring service. Along those lines, the company launched a free tax preparation offering earlier this year to entice new users to its suite of products.
According to chief product officer Nikhyl Singhal, “We’ve been thinking about ways to expand monitoring service for a while.” For instance, some employees had built a prototype unclaimed money feature as part of an internal hackathon. But Singhal said it made sense to acquire Claimdog and bring its founders on board to be internal champions of the product.
Credit Karma’s new Unclaimed Money product currently works in seven states — California, Georgia, New Jersey, New York, Pennsylvania, Ohio and Texas — that represent 40 percent of the U.S. population.
People in those places can now search for money owed to them on the Unclaimed Money site. But clearly Credit Karma wants to expand to offer as much coverage as possible, and will do so in due time. In the meantime, the company will refer people to the unclaimed money database of the state that they live in. love it right?


You may also want to read these ⤵️

Referee kills player in a football match

A referee is facing murder charges after football players allegedly forced him to

Do not watch this while driving

Kids are lovely and fun to watch most times. I know most of you did this and so many other funny stuffs as a kid. Feel free to share yours... Do not watch this while driving

Over 40 Million Accounts Found Guilty

Microsoft has uncovered 44 million user accounts using usernames and passwords that have been leaked through security breaches.

RAW TALENT ep1 (freestyle by Gdlpeid)

Just watch! Freestyle by ''Gdlpeeid''. A rapper with a difference.  Pure raw talent.

By February 2020 - WhatsApp Will Stop Working on These Phones

Every now and then, WhatsApp does fish out a list of old phones for which support is discontinued and if you have an old phone lying around as a backup, you might want to read on.

These 10 Powerful Words And Phrases Defined The Decade

Honestly, it has been a wonderful decade to remember.  A lot has happened and a lot has been spoken also. But our focus is on the words and phrases spoken.  Below are words and phrases spoken between 2010 - 2019 that defined the decade.....

Apple Has Released iOS 13.2.2 And Fixes Major Issue

All thanks to Apple,  the tech  giant just released iOS 13.2.2, which addresses the issue of background apps being killed prematurely, along with a handful of other annoyances.

This Magnetic thread Can Be Used To Clear Blood Clot in The Brain

Link from  Researchers at MIT developed a thread that can be steered magnetically to glide through the brain's blood vessels and

This gigantic monster device turns wave energy into electricity

This 826-ton buoy was developed by OceanEnergy to turn wave energy into electricity. IEEE Spectrum reported that "OE Buoy" was towed from Oregon to Hawaii, where it will undergo a series of tests that will prove whether it can withstand the battering waves while generating electricity. Click the link below to watch the video..

Lionel Messi Barcelona exit date revealed

The Barcelona Legend has decided on when he wants to quit the club and even has a successor in his mind already.