$3 Million Credit Karma Money To Be Shared By Its Customers, Are You One Of Them?

On January 23, 2023, the suit accusing Credit Karma of deceiving customers has been finalized. The personal finance company has agreed to resolve the suit with a $3 million settlement.

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Credit Karma Accused Of Customer Deceit, Faced Lawsuit From FTC

Reported by The U.S. Sun, at least 497,245 customers were victim to the misrepresentation of opportunity offered by a personal finance company, Credit Karma. Federal Trade Commission filed a suit accusing Credit Karma of falsely projecting high approval chances for credit.

According to Top Class Action, customers were already “pre-approved” but later denied once they applied. Many customers alleged that they’ve been told of “90% odds” of being approved, according to the FTC. Customer saw a decline in their credit scores, and some said that applying to it was a waste of their time.

Credit Karma denied all wrongdoing but agreed to settle the suit with a $3 million pot.

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No Documentation Proof Required, Just Meet These Criteria

Qualified claimants of Credit Karma money have most likely received an email or letter from the FTC with their claim ID number. These qualified claimants have received an offer from Credit Karma but was denied from February 2018 to April 2021. Their offer indicated that they were already “pre-approved” or that they had a “90% odd” of being approved.

A settlement website has been credited for this case. A digital portal can be accessed where claimant will enter their claim ID and submit a form. Deadline to submit is on March 4, 2024.

Customers who think that they are eligible to the Credit Karma money can send a message to [email protected] or call 866-848-0871 to get a claim ID. Amounts to claim will vary depending on the number of people who filed and other expenses such as legal fees which will also be deducted from the $3 million pot.

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