The following is a list of possible reasons your application may not have been approved. Please refer to your adverse action letter for the reasons specific to your application.
| Due to Credit Freeze | You currently have a credit freeze associated with your file with Experian. To apply for a credit card, you need to temporarily lift the credit freeze on your file.NOTE: You can reapply immediately after you remove the credit freeze on your account, however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Excessive Credit Utilization | It appears that we’re unable to move forward with your application due to excessive credit utilization which could include a number of factors currently reflected on your credit report. We recommend reaching out to Experian if you’d like to discuss this information in greater detail You may also request a free copy of your credit report within 60 days of receiving your Adverse Action letter when contacting Experian at (888) 397-3742. NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify." |
| Due to Poor Credit Performance With Us | At this time there appears to be some credit performance outstanding with SoFi, which is making you ineligible for the SoFi credit card. This can be indicative of your current SoFi accounts, so we encourage you to check on your obligations to ensure everything is up to date.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Collection Action, Lien, or Judgment | Based on the information in your credit report, It appears there is a collection, lien, or judgment that is preventing us from approving your credit card application at this time. We encourage you to review the information you provided and the free copy of your credit report to make sure everything is accurate.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Garnishment or Attachment | Based on the information provided it appears that there is a garnishment or attachment that is preventing us from approving your credit card application at this time. We encourage you to review the information you provided and the free copy of your credit report to make sure everything is accurate.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify |
| Due to Foreclosure or Repossession | Based on the information provided it appears there is a foreclosure or repossession that is preventing us from approving your credit card application at this time. We encourage you to review the information you provided and the free copy of your credit report to make sure everything is accurate.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Bankruptcy |
Based on the information provided it appears there is a bankruptcy that is preventing us from approving your credit card application at this time. We encourage you to review the information you provided and the free copy of your credit report to make sure everything is accurate.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Limited Credit Experience |
It appears, due to limited credit experience, we were unable to approve your application. SoFi defines credit experience by the number of open trades you have or how many revolving accounts are reflecting on your Experian credit file. While you may not be eligible now, we encourage you to reapply should any of your circumstances change.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to No Credit File |
It appears, due to limited credit experience, we were unable to approve your application. SoFi defines credit experience by the number of open trades you have or how many revolving accounts are reflecting on your Experian credit file. While you may not be eligible now, we encourage you to reapply should any of your circumstances change.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Other - Too Many Recent Inquiries |
At this time, it appears we’re unable to move forward with your application due to the number of credit inquiries currently reflected on your credit report. We recommend reaching out to Experian if you’d like to discuss this information in greater detail. You may also request a free copy of your credit report within 60 days of receiving your Adverse Action letter when contacting Experian at (888) 397-3742.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Credit Application Incomplete |
It looks like we didn’t receive all the necessary information to move forward with the application. With no activity, applications eventually expire. Please feel free to begin a new application.NOTE: You can reapply immediately, however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Foreclosure or Repossession |
Based on the information provided it appears there is a foreclosure or repossession that is preventing us from approving your credit card application at this time. We encourage you to review the information you provided and the free copy of your credit report to make sure everything is accurate.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Minimum Score Under Credit Scoring System Not Met | Your current credit score is below our minimum requirement and we also consider many different factors when considering credit card eligibility. While you may not be eligible now, if this is to change in the future we encourage you to re-apply then.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Excessive Obligations Relative to Income |
Based on the information you provided us, it appears that due to your obligations in relation to your income, we are unable to move forward at this time.NOTE: You can reapply after 30 days (from the date you last applied), however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Unable to Verify Identity |
The security of your information is one of our top priorities. At this time, we are unable to verify your identity based on the information provided in this application. If you know of any identification items which might be causing a discrepancy, you can reapply with a new application after 30 days with updated information, however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Unable to Verify Physical Address |
We were unable to verify your physical address with your credit history, preventing us from proceeding with your credit card application. If your information was incorrect and you have made the needed corrections you may reapply once more after 30 days, however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |
| Due to Security Statement Unable to Verify Identity |
We were unable to open your credit card account because of a fraud alert or fraud victim statement on your Experian Credit Report and we were unable to reach you to clear. You can call the number on your Experian Credit Report and speak to someone in their fraud department to add a phone number or remove the fraud alert, if appropriate. Please ensure that the phone number in your security statement is one that you can be reached at by SMS.If resolved, feel free to reapply after 30 days, however, this does not guarantee that your next application will be approved as all applications must meet the minimum eligibility criteria to qualify. |