Credit Karma will pay $3 million to users targeted with false preapproved offers
The FTC order came after nearly a third of Credit Karma users who were told they qualified for preapproved credit card offers were actually turned down, wasting their time and hurting credit scores.
The Federal Trade Commission is ordering Credit Karma to pay its users $3 million after pushing false preapproved credit cards on consumers and harming their credit scores.
Nearly one-third of users who applied for credit cards labeled as, a credit monitoring company, were subsequently denied following a credit check. According to a filed by the FTC, the marketing efforts wasted consumers time and had a negative impact on their credit scores.
