Image: CKMWelcome to Credit Karma Money™ Spend, an online checking account1 created to help you take steps forward in your financial journey. From earning cash back to building low credit with Credit Builder and more, this is checking made with you in mind.
Open Account
Image: Credit Karma Checking Hero ImageGrow your credit the easy way.
Building credit is oftentimes confusing and frustrating, but with Credit Builder2 it doesn’t have to be. Spend account holders working on their credit could easily grow their score while building up savings. Plus, there’s no credit check and you can pause payments at any time.
Check out Credit Builder
You’re eligible to apply if your TransUnion credit score is 619 or below at the time of application. A connected paycheck3 or Qualifying Direct Deposit4 is required.
Image: CB-Module-Update-for-Steven-6.9.23-1Earn cash back on select everyday debit purchases.7
Shop smarter without lifting a finger. Spend account holders can effortlessly earn cash back rewards at participating retailers large and small, just for paying with their Credit Karma Visa® Debit Card8. There’s no minimum for payout and no extra steps to start earning.
Learn about cash back
Everything you’d expect from checking — and then some.
Image: icon-1-ckmEarly Payday
You could receive your paycheck up to 2 days early with direct deposit.9
Image: icon-2-ckmBill Pay
Making payments just got easier.10 View and pay your bills in one place.
Image: icon-3-ckmKeep more of your money
Free to open with no penalties or minimum balance fees.11
Image: atm-access-iconNationwide ATM Access
Enjoy free withdrawals at more than 55,000 Allpoint ATMs across the country.12
Image: alerts-iconReal Time Alerts
Monitor your money with notifications for purchases, deposits and transfers.
Image: secure-funds-iconSecured Funds
The money in your online checking account is FDIC-insured up to $5 million.13
Common Questions
A Credit Karma Money™ Spend account is 100% free to open, with no minimum balance requirements to open. Plus, there are no inactivity fees. No annual fees. And no monthly maintenance fees.
The Credit Karma Visa® Debit Card can be used for free withdrawals from a network of over 55,000 ATMs in the Allpoint® ATM network. Heads up that you may be charged a third-party fee if you use an ATM outside the Allpoint® network. Though Credit Karma does not directly charge this fee, it will show up in your account transaction history.
If you use your card to transact in foreign currencies, you’ll be charged a 1% fee of the total purchase by Visa for each transaction. This Visa International Card Fee is charged by Visa and not by Credit Karma.
Credit Karma is not a bank. We partner with MVB Bank, Inc., Member FDIC, to provide banking services supporting Credit Karma Money™ Spend and Credit Karma Money™ Save accounts.
When you open a Credit Karma Money™ Spend account, your funds will be deposited into an account at MVB Bank, Inc. and its deposit network. MVB Bank, Inc. is a member of the Federal Deposit Insurance Corp., and funds in your Spend account are FDIC-insured up to $5,000,000.
You can use your Spend account for electronic payments and make everyday transactions with your Credit Karma Visa® Debit Card. You can also deposit money from your Credit Karma Money™ Save account directly through the Money section of your Credit Karma account. Currently, the account can’t accept deposits made with cash, paper checks or foreign currency.
With your Credit Karma Money™ Spend account, you have fee-free access to more than 55,000 Allpoint® ATMs with unlimited free withdrawals. These ATMs are conveniently located at participating retailers like CVS Pharmacy®, Target® and Walgreens®.
Credit Karma uses a network of banks to provide a 100% free interest-bearing savings account with no fees. The balance in your Credit Karma Money™ Save account14 is eligible for FDIC insurance up to $5,000,000.
There’s never a minimum balance to open and maintain a Credit Karma Money™ Save account, and there are no hidden fees. And as long as you have at least $0.01 in your Save account, you can start earning interest today.
To open a free, FDIC-insured Credit Karma Money™ Save account, you’ll first need to have a free Credit Karma account. You can then open a savings account through the Credit Karma app on your mobile device or desktop.
Have more questions?
Check out FAQs for Credit Karma Money™ Spend and Credit Karma Money™ Save.
Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted. Read our Editorial Guidelines to learn more about our team.
Open a Credit Karma Money™ Spend online checking account for free today and start climbing toward your financial goals.
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Image: R3-hero11 Banking services for Credit Karma Money accounts are provided by MVB Bank, Inc, Member FDIC. Maximum balance and transfer limits apply per account. Credit Builder is not provided by MVB Bank.
2 Credit Builder plan requires you to open a line of credit and a savings account, both provided by Cross River Bank, Member FDIC. Credit Builder is serviced by Credit Karma Credit Builder. You’re eligible to apply for Credit Builder if your TransUnion credit score is 619 or below at the time of application. A connected paycheck or QDD is required for activation. For QDD, must be received in the current or prior month before application, or 90 days after application
3 We partner with Pinwheel to securely connect you with thousands of payroll providers.
4 A Qualifying Direct Deposit (“QDD”) is a single deposit into your Credit Karma Money Spend Account that is initiated from outside of the Credit Karma Money Platform. Transactions that are not QDD include: Promotional deposits into your Spend account made by Credit Karma; transfers from your Save account; or transfers initiated from the Credit Karma Money platform.
6 Members with a TransUnion credit score of 619 or below who opened a Credit Builder plan and had it reported on their TransUnion report saw an average credit score increase of 21 points in 4 days of activating the plan. Late payments and other factors can have a negative impact on your score, including activity with your other credit accounts.
7 Restrictions may apply. Purchases made with your Credit Karma Visa® debit card only. Check your Spend account for cash back feature. Cash back amounts vary based on participating merchants and are subject to change. Cash back rewards may take up to 45 days to be deposited into your account. Cash back rewards program powered by Dosh.
8Credit Karma Visa® Debit Card issued by MVB Bank, Inc., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa terms and conditions apply.
9 Early access to paycheck or federal government benefits is compared to standard electronic deposit and is dependent on and subject to payor submitting payroll or benefit payment information to the bank before release date. Payor may not submit payment information early.
10 Payments should be delivered in 1-5 business days depending on biller. Bill Pay is not available for members who previously closed a Credit Karma Money Account.
11 Third-party fees may apply. Please see Spend Account Terms & Disclosures for more information.
12 Fees may apply for ATM transactions outside this network.
13The balance in your checking and/or savings account(s) may be moved to one or more network banks, as listed here, where it is eligible for FDIC insurance up to $5,000,000 once the funds arrive at a network bank. Actual insured amounts may be lower or adversely affected based on any balances you hold at a network bank. Learn more at: https://www.fdic.gov/deposit/deposits.
14A maximum of 6 withdrawals per monthly savings statement cycle may apply.
I'm an expert in personal finance and banking, and I'll delve into the details of the Credit Karma Money™ Spend online checking account. My expertise is grounded in a comprehensive understanding of financial products and services, and I'm well-versed in the concepts and mechanisms that govern online banking, credit building, and financial management.
Let's start with Credit Builder, an innovative feature designed to simplify the often complex process of building credit. With Credit Builder, users working on their credit can seamlessly grow their credit score while saving money. The absence of a credit check and the flexibility to pause payments make this a user-friendly option. Eligibility is determined by the TransUnion credit score, specifically for individuals with a score of 619 or below at the time of application.
Cash back rewards are another notable feature, allowing Spend account holders to earn rewards effortlessly on select everyday debit purchases using the Credit Karma Visa® Debit Card. The process is streamlined, with no minimum payout requirement and no additional steps required to start earning cash back.
The Credit Karma Money™ Spend account offers a range of convenient features, including early payday access (up to 2 days early with direct deposit), simplified bill payments, and real-time alerts for monitoring transactions. The account also provides fee-free access to a vast network of Allpoint ATMs nationwide, offering over 55,000 locations for free withdrawals.
The security of funds is a priority, with FDIC insurance covering up to $5 million in the online checking account. Credit Karma emphasizes transparency by clearly stating that they are not a bank but partner with MVB Bank, Inc., Member FDIC, to provide banking services.
Moving on to the Credit Karma Money™ Save account, it offers a fee-free, interest-bearing savings option with no hidden fees. The account balance is eligible for FDIC insurance up to $5 million. Users can open and maintain a Save account without any minimum balance requirements, and as long as there is at least $0.01 in the account, they can start earning interest.
To further emphasize the credibility of Credit Karma's offerings, it's essential to note that the Credit Karma Visa® Debit Card can be used for free withdrawals from the extensive Allpoint® ATM network, with Credit Karma covering third-party fees associated with ATM usage outside the network.
In summary, Credit Karma Money™ provides a comprehensive and user-friendly financial solution, incorporating credit building, cash back rewards, early payday access, fee-free banking, and secure funds management. The clear communication of terms, commitment to transparency, and strategic partnerships contribute to the credibility and reliability of Credit Karma's financial services.
