How to Receive Federal Refund Using TurboTax

CreditKarma is an Intuit product that, among other things, offers a high-yield savings account.

They are, essentially, promoting another of their products within the one you're using. Note the footnotes 1-4 (which aren't in your screenshot).

You would need to create a CK account if you don't have one, you'd essentially be opening a savings account with them. Whether or not this is a good idea depends entirely on where you're at in terms of building savings. If you want the money for immediate use, go direct deposit. If you're building savings and want to try to score some free money and don't mind opening another savings account to do so, then give the fine print a read-through, make sure they're insured, etc, etc.

Personally, I just go direct deposit and carry on with my savings plan, but that has as much to do with "I just did my taxes and don't want to read paperwork to open a new account somewhere else" as anything else.

You not only have to create a CreditKarma account to receive the tax refund, but if you want to receive the $50 bonus and to be eligible for entering the $50K sweepstakes, you also need to arrange for direct deposit of your paycheck into the new CreditKarma account. So, Yes, you could get an extra $50 bonus over and above what your regular bank account will receive, but you will need to are-arrange your financial life a little because now your paycheck is being deposited into your CreditKarma account, whereas you are presumably set up for paying credit-card and utility bills from your regular checking account. So, set up a regular transfer of money from your new CreditKarma account, or switch over all your bill payments to the new CreditKarma account. And what about debit cards and cash withdrawals if needed?