Intuit Stock (INTU) Rises as Credit Karma Is Going After Americans with Zero Credit History

Software firm Intuit Credit Karma (INTU) is expanding access to people in the U.S. who do not yet have a credit history. The company announced today that “credit invisible” consumers can now sign up for free Credit Karma accounts and start using tools designed to help them begin building credit. Following the news, INTU stock is up 1.19% in pre-market hours.

For context, Intuit provides software and digital financial tools for consumers, small businesses, and self-employed professionals. The company is best known for products such as TurboTax, QuickBooks, Mailchimp, and Credit Karma. It acquired Credit Karma in December 2020, making it a wholly owned subsidiary that operates as a core part of Intuit’s consumer finance platform.