Why was my application denied if Credit Karma showed good Approval Odds?

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.

Credit Karma works 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.

For personal loans, if your application gets denied, the hard inquiry necessary for the application can lower your credit scores. However, getting denied won’t further hurt them. If you have had other inquiries for personal loans within a period of 14 days, generally these should be treated as one inquiry.

For credit cards, the hard inquiry necessary for the application can also affect your credit scores. Multiple inquiries, even within a short period of time, will not be treated as one inquiry. The impact on your credit may be small, and that impact can minimize over time. Be very selective about additional applications, as each one causes another hard credit inquiry and multiple hard inquiries can hurt your credit.