Credit Karma Money Spend Account Review: A No-Fuss Checking Account

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Quick Take: Credit Karma Money is a 100% free alternative to a traditional banking checking account. You can use your card at more than 50,000 ATMs worldwide and where Visa is accepted. You do need to have a Credit Karma account to use the service, but that also comes with access to your credit reports and scores.
  • Features
  • Availibility
  • Ease of Use
  • Fees
How did we calculate this?

What Are Credit Karma Money Spend’s Pros and Cons?

Weigh some of the benefits and drawbacks of the account.


  • Free transactions at over 50,000 ATMs nationwide
  • Banking services are provided by an FDIC-insured bank
  • Early access to your paycheck
  • Instant Karma gives you a chance to earn rewards


  • Third-party fees apply
  • Limited services

What Is Credit Karma Money Spend?

Previously popular for their credit monitoring services, Credit Karma has now introduced a checking account to help people make financial progress.

Recently, the company announced a Credit Karma Money account TurboTax partnership. TurboTax will directly send tax refunds to users’ checking account.

But that’s not the only impressive thing about the Credit Karma Money Spend account. Here’s a detailed review of this account.

Credit Karma Money Spend is a checking account with no penalties, minimum balance requirements, or overdraft fees. The account is free to open and comes with a Visa debit card that allows users to make purchases at any merchant accepting Visa cards.

Did You Know?

Credit Karma itself is not a bank and the banking services are offered by MVB Bank.

Credit Karma Money Spend Features

The Money Spend has several offerings for the users, such as:

  • No Overdraft Fees: Overdraft fees are usually charged if you use your debit card or write checks without having enough money in the account to cover the transactions. Fortunately, Credit Karma doesn’t charge an overdraft fee.
  • Early Payday: With Early Payday, you get your paycheck up to two days before time.
  • Free ATM Transactions: With Money Spend debit card, you can use 55,000 in-network Allpoint ATMs for unlimited free withdrawals. These ATMs are readily available at popular retailers like Target, CVS, Kroger, and Walgreens.
  • In-App Controls: Everything that happens with your account or debit card, such as transactions and funds transfer, can be monitored and performed using the Credit Karma app.
  • Instant Karma: Every eligible purchase using your Credit Karma debit card gives you a chance to win an Instant Karma purchase reimbursement. It’s a great way to earn and save extra money.

How To Open an Account

Here’s how to open a Credit Karma Money Spend account:

Step-By-Step Guide

  1. Go to the home screen of Credit Karma Money Spend after logging into your account.
  2. Check your personal information. If it looks correct, click Confirm.
  3. Alternatively, you can update or change your personal information if it’s incorrect.
  4. Make sure you enter the correct mailing address since Credit Karma will mail you your debit card.
  5. Also, verify your contact details. If the phone number is correct, click Confirm.
  6. Read the account agreements and e-sign consent.
  7. Then, click “Accept and create my account.”
  8. Credit Karma’s system will take some time to validate your personal information. After that, you will have a Money Spend account.
  9. Meanwhile, your debit card will come to your doorstep in a few days.

Once you’ve received the card, you can activate it by clicking on the Activate Card button on this page.

Who Is It For?

The Credit Karma Money Spend account is ideal for younger people who don’t want to be burdened by minimum balance fees and prefer debit cards over credit cards.

Moreover, it’s a no-fuss, free-to-open account that first-time account holders will be comfortable using.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

About the Author

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He's helped startups to Fortune 100 companies bring software products to life. When he's not writing or building software, Scott can be found reading or spending time outside with his kids.

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