Close Your Credit Karma Savings Account in Three Steps
To close a Credit Karma Savings Account, you withdraw your balance, then request account closure through the Credit Karma app or website. Credit Karma does not charge a fee to close the account. The process takes a few minutes to request, though the money itself may take one to three business days to reach your linked bank account, depending on your bank's processing speed.
Credit Karma Savings is a high-yield savings product offered through a partnership with Evolve Bank & Trust. When you close the account, you are closing only the savings product — your Credit Karma credit monitoring account remains open unless you separately close that as well.
Key Takeaways
- You must withdraw all money from your Credit Karma Savings Account before you can close it; the account cannot be closed with a balance remaining.
- Withdrawal requests are submitted through the Credit Karma app or website and typically arrive in your linked bank account within one to three business days.
- Closing the savings account does not close your Credit Karma credit monitoring account, which continues to track your credit score and report unless you close it separately.
- Credit Karma does not charge a fee to close the account, and there is no penalty for early closure.
Step 1: Withdraw Your Full Balance
Log into your Credit Karma account on the app or website and navigate to the Savings section. Select your Credit Karma Savings Account and look for a "Withdraw" or "Transfer" button. Enter the full balance you want to move out — you cannot leave money in the account and close it at the same time.
The withdrawal goes to the bank account you linked when you opened the savings account. If you want to move the money to a different bank account, you will need to withdraw to your original linked account first, then transfer from there to your new account. Credit Karma does not allow you to change the linked withdrawal account directly.
Step 2: Request Account Closure Through the App or Website
Once your balance is zero, return to the Savings section in Credit Karma. Look for a settings icon, menu option, or "Close Account" button — the exact location varies slightly between the app and website, but it is always in the account settings area. Select the option to close the account.
Credit Karma will ask you to confirm the closure and may ask why you are closing the account. This is optional feedback; you do not have to answer to proceed. Confirm the closure request, and the account will be marked for closure.
What Happens After You Request Closure
The account closure is usually processed within a few business days. You will receive a confirmation email from Credit Karma or Evolve Bank & Trust. After closure, you will no longer see the savings account in your Credit Karma dashboard, and you cannot deposit money into it.
If you have pending transactions or transfers that have not yet cleared, closure may be delayed until those transactions complete. Contact Credit Karma support if your account shows as closed but you still see it in your dashboard after five business days.
Your Credit Karma Credit Monitoring Account Stays Open
Closing the savings account does not affect your Credit Karma credit monitoring service. You will still receive credit score updates, credit report monitoring, and alerts about changes to your credit file. Your credit history and score data remain in your Credit Karma account.
If you want to close your entire Credit Karma account — including credit monitoring — that is a separate process. You would need to go to your account settings, find the option to close or delete your account, and confirm. However, most people keep the credit monitoring active even after closing the savings product, since it is free and provides ongoing information about your credit.
If You Cannot Close the Account
The most common reason closure fails is a remaining balance in the account. Even a few cents will block the closure request. Withdraw the entire balance, including any pending interest, and try again.
If you have a pending deposit or transfer that has not yet cleared, wait for it to complete before requesting closure. If you see an error message or the closure request does not go through after your balance is zero, contact Credit Karma support through the app or website. They can manually process the closure or investigate why the automated process is not working.
Frequently Asked Questions
Does closing the savings account hurt my credit score?
No. Closing a savings account does not affect your credit score because savings accounts are not reported to credit bureaus. Only credit accounts — credit cards, loans, lines of credit — appear on your credit report. Your Credit Karma credit monitoring will continue to track your actual credit accounts regardless of whether the savings account is open or closed.
How long does it take to get my money after I request a withdrawal?
Withdrawals typically arrive in one to three business days, depending on your bank. Some banks process faster; others take the full three days. Weekends and bank holidays can add time. If your withdrawal has not arrived after five business days, contact your bank to confirm they received the transfer from Evolve Bank & Trust.
Can I reopen a Credit Karma Savings Account after I close it?
Yes. You can open a new Credit Karma Savings Account at any time by going to the Savings section in your Credit Karma account and following the setup steps. You will need to link a bank account and verify your identity again. There is no waiting period or penalty for reopening.
What if I close my Credit Karma account by mistake?
If you closed the account very recently, contact Credit Karma support immediately through the app or website. They may be able to reverse the closure within a short window. If the account is already fully closed and you want to use Credit Karma Savings again, you will need to open a new account and go through the verification process.