What Should I Do if I'm Declined?

2 min read

If we’re not able to offer you a lending product, you're welcome to apply through one of our lending partners. Sign into your Member Center, or check your Adverse Action notice for more information on those options.

You’re also welcome to come back and apply with us again in the future. Your credit profile can change as frequently as every 30 days, and this (along with changes to your employment, income, or existing debt) could change the outcome.

Still have questions? Keep reading for answers.

Why was I declined?

The specific reasons for the decline are provided in an Adverse Action (AA) notice. Sign into your Member Center and head to the Loan Documents page to see that notice.

The AA reasons you’re given should help provide some context for why we couldn’t approve the application—and what you can focus on changing before you reapply.

Understanding terms in your AA notice

These are a few terms you might see in your notice, and what they mean:

  • Credit Inquiries—Instances when your credit was checked

  • Delinquent Payments—Payments not made on time

  • Installment Account/Installment Loan—Loans or accounts with fixed payments over a fixed period of time, like a mortgage or auto loan

  • Revolving Accounts—Accounts with maximum limits that allow you to use variable amounts of credit up to that maximum, like a credit card

  • Revolving Balance—The portion of an account balance that goes unpaid at the end of a billing cycle and accrues interest, like your outstanding credit card balance

  • Revolving Debt—Another term for the debt you have on your revolving accounts

Will a decline hurt my credit score?

No, when you apply, we perform a soft credit inquiry to understand your credit history, which doesn’t affect your credit score. You’ll see the inquiry if you look at your report, but other lenders won’t see it at all.

Why was I declined after receiving an offer?

At LendingClub, you apply online and find out instantly whether you’re pre-approved and what your offer is. If you choose to take the offer, we may ask you for documentation to verify your identity, employment, or income.

If you don’t send us the documentation, or if your documents don’t match the information on your application, this may result in a decline.

Pre-approved mail offers

We use information provided by credit bureaus to identify potential borrowers and proactively mail them invitations to apply.

When you respond to a pre-approved offer, we request updated information from credit bureaus to verify that you still meet the criteria the offer was based on. We may also request additional information, such as income and employment status. 

If changes have occurred in your credit report or other information since we identified you as a potential borrower, your application may be declined.

Whatever the reason for the decline, it’s important to us that we let you know the final decision as soon as possible. That way you can know how to improve your application next time, or you can explore your other options as needed.

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Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

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