Credit Karma wants millions of Americans to know their net worth

From the people who brought you credit monitoring services now comes Credit Karma Net Worth, a new product to help people know, grow and protect their wealth.

The new feature brings the 16-year-old company closer to becoming an end-to-end personal finance management platform, also offering debt, credit building and checking and savings products, Credit Karma founder and CEO Kenneth Lin said in an interview.

As Credit Karma members moved through their credit journey of establishing credit and getting their credit score in check, they are now thinking about the next stage of their life: financial goals and outcomes, he said.

“This is really part of the natural progression of helping that group of users understand their financial lives,” Lin said. “This is one of those things that everyone tells us is important, but no one has done it well, and more importantly, no one has done it with the ease of access that we believe we have at Credit Karma.”

The overall goal of Net Worth is to guide members to grow and protect their wealth, but at product launch, it is focused first on helping members understand the various components of their net worth, including assets, loans, retirement savings and credit card debt, so that they can monitor it and track progress over time.