The Federal Trade Commission (FTC) is sending payments to victims of a credit card offer scam that was operated by the personal finance company Credit Karma between 2018 and 2021. Credit Karma sent notices to hundreds of thousands of people telling them that they were “pre-approved” for credit cards offered by banks that used Credit Karma to promote their financial products. Unfortunately, many “pre-approved” people after completing the necessary credit card applications were denied the credit cards. Unfortunately, for those applying for the credit cards which they were led to believe was a sure thing but were denied, their credit scores were reduced because applying for the credit card constituted a hard inquiry on their credit report, which upon their being denied the card damaged their credit score.
The FTC took legal action against Credit Karma for this scam in September of 2022 and soon settled the claim with Credit Karma. Under the terms of the settlement, Credit Karma paid three million dollars to the FTC to be distributed to people harmed by the scam.
TIPS
The FTC sent notices to people who were eligible for a refund instructing them to file a claim prior to March 4, 2024. Now the FTC is sending checks to the 50,994 people who filed for a refund.
For more information, go to the “FTC Scam Refunds” section of Scamicide.com which can be found in the middle of the first page of Scamicide.com.
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