This settlement is closed!
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The Federal Trade Commission (FTC) is issuing refunds to consumers after Credit Karma agreed to a $3 million lawsuit settlement to resolve the claim that it misrepresented consumers as “pre-approved” or having high approval odds for lending opportunities they were later denied.
The settlement benefits 497,425 consumers who were denied credit after responding to a Credit Karma offer that said they were “pre-approved” and/or had “90% odds” of being approved for the credit opportunity.
According to the FTC lawsuit, Credit Karma falsely represented consumers’ chances of being approved for credit opportunities to deceive them into applying. These applicants were allegedly denied due to their credit, resulting in wasted time and, in some cases, dropped credit scores.
Credit Karma is an Intuit company that allows consumers to see their credit profiles and provides credit recommendations.
Credit Karma agreed to a $3 million settlement to end the FTC’s claims, and the agency is now returning those funds to affected consumers.
Under the terms of the settlement, consumers can receive a cash payment. No payment estimates are available, but according to the FTC, payment amounts will vary depending on the number of people who file claims and other factors.
There is no exclusion or objection deadline for the settlement.
The FTC settlement was finalized on Jan. 23, 2023.
In order to receive a Credit Karma settlement payment, consumers must submit a valid claim form by March 4, 2024.
Who’s Eligible
Consumers who were denied credit after responding to a Credit Karma offer that said they were “pre-approved” and/or had “90% odds” of being approved for the credit opportunity
Potential Award
Varies
Proof of Purchase
N/A
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
03/04/2024
Case Name
In the Matter of Credit Karma LLC, Case No. 2023138, before the U.S. Federal Trade Commission
Final Hearing
01/23/2023
Settlement Website
Claims Administrator
866-848-0871
Class Counsel
N/A
Defense Counsel
N/A
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119 thoughts onCredit Karma ‘pre-approved’ credit $3M FTC settlement
Just now received this email? Credit Karma AND Penny Hoarder could have done a better job. I know, I know…..all
for me and to……..with you. Both companies/web sites showed their true colors.
I just want to know if I’m included bin the lawsuit
Just seen this now
All the emails Credit Karma sends me. They fail to inform me of a lawsuit with a Claim #. I have emails as of last week with approval odds with denied credit from creditors. I’m just now seeing this article from a Google News Alert. WTF is going on?
Am I the only one
No you are not the only one, I just saw it right after they stopped accepting the claims. They didn’t say sqat about it because I should have been in that suit. They are pretty sorry. As a matter of fact I just received an email about 20 minutes ago telling me that I was approved for the same credit card they swore I was approved for that they were going to pay me $50 if I was denied. I was denied. They found every excuse in the book too keep from paying me that $50. I at least deserve that.
All the emails Credit Karma sends me. They fail to inform me of a lawsuit with a Claim #. I have emails as of last week with approval odds with denied credit from creditors. I’m just now seeing this article from a Google News Alert. WTF is going on