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I applied for an offer that had good approval odds, but I was declined. What’s the deal?

Credit Karma’s goal is to champion financial progress for our members. Part of this is minimizing your level of risk while you shop for financial offers.

In order to show you Approval Odds, Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for the same product.

Though Approval Odds may help you narrow down your choices, they aren’t a guarantee of approval. We work hard on our Approval Odds because we want the best possible outcome for all our members. But at the end of the day, it’s up to the lender to make a decision.

If your application for a personal loan gets denied, don’t panic. Though the hard inquiry necessary for the application may affect your credit scores, getting denied doesn’t further hurt them. The impact on your credit may be small and can improve over time. However, be very selective about additional applications as each one may cause another hard credit inquiry and multiple hard inquiries can hurt your credit.

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