Why was my loan application rejected?
There are a few reasons behind loan application rejections:
- The most common reason is that you didn’t pass Carbon’s internal appraisal score. This is usually based on the fact that we are still getting to know you as a customer. We recommend our new customers to start using other services on the Carbon app (savings, bill payment, funds transfer, card payments, etc) for a few months and to try again after that. Once we know you better, you will have a much higher chance at getting a loan.
- We sometimes will reject customers based on their past repayment with us. While you might have paid the loan, delays in payment will unfortunately negatively affect your Carbon repayment score and might lead to your loan being rejected.