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Credit Karma tricked customers into thinking they were pre-approved for credit cards

WaldenEast
Established Member

Credit Karma tricked customers into thinking they were pre-approved for credit cards

"The Federal Trade Commission on Monday ordered personal finance company Credit Karma to pay $3 million to customers the agency alleges were deceived into applying for products they weren't eligible for." https://www.cbsnews.com/news/credit-karma-federal-trade-commission-3-million-deceptive-claims/ 

Message 1 of 7
6 REPLIES 6
WaldenEast
Established Member

Credit Karma will pay $3 million to users targeted with false preapproved offers

Credit Karma tricked customers into thinking they were pre-approved for credit cards, FTC says https://www.cbsnews.com/news/credit-karma-federal-trade-commission-3-million-deceptive-claims

Message 2 of 7
OmarGB9
Community Leader
Super Contributor

Re: Credit Karma will pay $3 million to users targeted with false preapproved offers

And of course CK vehemently denies the claims. Smiley LOL


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 3 of 7
OniStringer
Regular Contributor

Re: Credit Karma tricked customers into thinking they were pre-approved for credit cards

Man Credit Karma could be such a great tool and is for a quick glance at your credit as a whole. But they really do weird things.

Started with LOW 500s - Actively rebuilding as of early 2019

Message 4 of 7
Bill77
Regular Contributor

Re: Credit Karma tricked customers into thinking they were pre-approved for credit cards

Speaking of CK, I feel like the marketing of the Upgrade cards are deceptive.  It should be more clear that you are not signing up for a standard credit card everyone would commonly know.  Although I'm sure they covered themselves in the fine print.

 

Message 5 of 7
Horseshoez
Valued Contributor

Re: Credit Karma tricked customers into thinking they were pre-approved for credit cards

I've been critical of CreditKarma in the past and been heavily flamed for the effort; this revelation from the FTC comes as no surprise to me.

I categorically refuse to do AZEO!
Message 6 of 7
1GaDawg85
Valued Contributor

Re: Credit Karma tricked customers into thinking they were pre-approved for credit cards

Smiley Indifferent this is my shocked face 


FICO 5 ,4, 2 - 1/2023                            FICO 8 - 1/2023                                   FICO 9 - 1/2023                                   FICO 10 - 1/2023
     
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