Apr 15, 2020 - Economy

Credit Karma CEO: Consumers must be proactive to protect credit scores

Photo: Axios Events

Credit Karma founder and CEO Kenneth Lin warned during an Axios virtual event on Wednesday that consumers need to be proactive in order to protect their credit scores, especially if they miss expected payments as a result of the coronavirus shutdown.

The state of play: Lin suggested two important steps for all American consumers if they're forced to miss any payments — even if they've been promised leniency by their landlords or banks — reaching out to lenders and documenting all communications that result. "People who are prepared now will be in a better situation for the recovery," he told Axios' Dan Primack.

Go deeper