How to enter

Credit Karma has built a name for itself by offering a number of financial products — that most companies charge for — completely free. Free credit scores, free high-yield savings accounts, and free tax filing software.

To be eligible for the big grand prize, all you have to do to enter is use their free financial tools in three simple steps:

  1. Use Credit Karma Tax to file your 2019 federal tax return, and sign the consent form.
  2. Then, while you’re still in Credit Karma Tax, open a Credit Karma Savings account. When prompted, choose to direct deposit your full or partial federal tax refund ($1 is all that’s necessary).
  3. Finally, you must keep your new Credit Karma Savings account open at least until the beginning of May.

Credit Karma's high-yield savings account has one of the highest interest rates out there and, as mentioned earlier, there are absolutely no fees associated with the account.

You can also submit a handwritten entry by mail, without filing a return or opening a savings account.

The rules

The sweepstakes began with the start of tax season, at 9:00 a.m. Pacific time on January 27, and it ends at 5 p.m. Pacific on March 31, 2020.

Participants must be 18 years of age or older, and a legal U.S. resident of one of 48 states (and Washington, D.C.). Citizens of New York state and Florida are unable to enter.

What are you waiting for?

The sweepstakes grand prize is $50,000.

Credit Karma is offering up a win-win that maximizes your tax refund, and gets you access to a completely fee-free high-interest savings account.

All you need is $1 from your refund. Enter today and you might turn your refund into riches.

About the Author

MoneyWise

MoneyWise

MoneyWise Editorial Team

These articles were created by the MoneyWise editorial team.