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Net Worth FAQs

SOLVEDby TurboTaxUpdated 6 days ago

I already have my phone number in Intuit Credit Karma, why do I need to verify? 

  • We want to verify the device you are using so that we know it’s you. 

I already have my phone number in Credit Karma, but I did not receive a code.

  • Double check within your Credit Karma profile that the phone number on record is the same phone number you are using. If you need to change your phone number on your profile, make the changes and re-enter the Net Worth page. Now, the code will be sent to the re-entered phone number. 

Why do I need to link a financial account? 

  • In order to see your full financial picture (net worth), we ask you to add all of your financial accounts. 

What is linking an account?

  • Linking an account means linking your bank or financial institution to Credit Karma. Credit Karma can then identify the accounts you have with the bank and get the detailed information about those accounts, their balance, and transactions. CK can connect to thousands of financial institutions across the country to link your accounts and help you get a picture of your finances.

Why do I need to link my accounts?

  • Linking the accounts gives you a  picture of your finances. You can see information such as  account balances and transactions for all your connected/linked accounts, which are helpful to see where your money is coming/going, and to view your net worth and spending habits

How to fix the broken accounts?

  • Setting/Gear icon on the right top of the screen opens the Manage Accounts surface. There you can fix/delete your accounts. Follow the steps mentioned in the flow to fix the broken accounts.

How to delete the accounts?

  • Setting/Gear icon on the right top of the screen opens the Manage Accounts surface. There you can delete your accounts. Follow the steps mentioned in the flow to delete the accounts. Once the account is deleted all its data will be removed. 

Why do I see my vehicle and home information on Net Worth?

  • The vehicle or home you’ve added to Credit Karma will be shown as accounts in Net Worth. Vehicle value and home value are important parts of your net worth so we add them to your assets, and they will be included in your net worth as well.

Why do I need to enter my phone number?

  • We ask you for your phone number so that we can verify it’s you

Why am I unable to receive a code to the entered phone number? 

  • Try resending code or pressing “Get a call instead”
  • If there still seems to be a problem, press the back arrow and re-enter your phone number 

What financial accounts can I add?

  • You are able to add credit card accounts, checking accounts, saving accounts, investment accounts, retirement accounts, loan accounts and property accounts. 

Can I see my net worth without adding an account? 

  • No, you must add at least one financial account in order to view your net worth. Keep in mind that if you have not added all of your financial accounts, the net worth displayed is only a partial amount. To see your full net worth, you must add all of your financial accounts. 

I am receiving an error when I link an account, what should I do? 

  • Try re-entering your password for that financial institution. If you receive an error again, try logging into a different financial account. Once you are able to enter the net worth page, try again. 

I don’t see the financial institution I am trying to link, what should I do?

  • If you have already tried searching for the financial institution and are still unable to find the financial institution, it may not be supported  yet or available at that time. Try adding another financial institution in the meantime. 

How did Credit Karma know my Auto and/or Home value? 

  • We get these values from the Auto and/or Home sections within Credit Karma, only if you have added them at a different time within the app. 

I have already onboarded but I am asked to verify my phone number again. Why? 

  • You are most likely entering via a device that has not been verified before. For security purposes, we ask members to verify their phone number on all new devices. Once you verify your phone number you will be taken directly to Net Worth. 

What are assets?

  • Assets are resources that have economic value that you own or control. For example your own assets may include cash, investments and physical items such as a car or home.
  • In Net Worth we help you track the following assets:
    • Cash - checking and savings accounts
    • Investments - brokerage and retirement accounts
    • Property - homes and vehicles 

What are debts?

  • Debts are essentially money that you owe, they are also referred to as liabilities. 
  • In Net Worth we help you track the following debts:
    • Credit Cards
    • Loans  - mortgages, student loans, vehicle loans and personal loans

My net worth is wrong, how can I fix it?

  • When we calculate your net worth we can only use the accounts you have linked in the Net Worth experience. If your net worth is off try to add any accounts that are missing.
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