We wish we could support everyone but sometimes we have to make hard decisions.
Possible uses a proprietary underwriting system to make lending decisions. Credit applications are evaluated on the following considerations:
- Bank account balance
- Minimum income
- Consistency of income deposits over time
- Number of returned checks or insufficient funds (NSF) fees
- Monthly cash flow analysis
- Valid identification information
Card Applications are most commonly denied for the following reasons:
- The average bank account balance is low or often in the negative
- Residual monthly income does not meet the minimum requirement of $1000
- Consistent payroll deposits over at least a 2-month period aren’t able to be detected
- A high amount of returned checks or insufficient funds (NSF) fees are present
- Payments on previous loans with Possible were returned or late
- Identity is not able to be verified using the identification information provided
- A shared bank account with someone who already has an active loan with Possible has been detected
- A duplicate account with Possible was detected and needs to be removed before proceeding
- Possible is unable to connect with the applicant's bank account to pull sufficient data to make a loan decision
Please reapply when you feel your application will better satisfy the considerations listed above.
If your financial profile has changed since your last application, you can always retry the eligibility check. To do this, simply initiate a new credit card application from within the app. We’re happy to take new applications from returning applicants. You should receive a decision on your new application within 24 hours.
Unlike traditional credit providers, Possible doesn’t rely on your credit score as part of its loan decision. Because Possible doesn’t initiate a hard pull on your credit as part of the decision process, your credit score will not be impacted by applying for a card.