WASHINGTON—The Federal Trade Commission is sending more than $2.5 million to consumers who were misled by deceptive claims from credit services company Credit Karma, the FTC reported.
The FTC took action against Credit Karma in 2022, alleging that the company told consumers they were “pre-approved” and had “90% odds” of approval to entice them to apply for credit card offers that, in many instances, they ultimately did not qualify for. Credit Karma agreed to an FTC order that required the company to stop making these types of “deceptive” claims and to pay money to compensate consumers who were harmed. Today, the FTC is sending this money to consumers, the Commission said.
The FTC is sending checks and PayPal payments to 50,994 consumers who filed a valid claim before the March 4, 2024, deadline.