How does creditkarma "no ding decline" work?

[TyrannicalDuncery3]

Is there anything that I should know about CreditKarma's "no ding decline" offers before I apply?

I know that these offers can have unintended problems.

I was wondering:

• Do the CreditKarma ones prevent ALL of my bureaus from being hard pulled? Just TransUnion? Just Equifax?

• Does applying through CreditKarma send me through a different underwriting process compared to the issuer's normal process?

• Does applying through CreditKarma stop me from getting other perks like public signup bonuses?

• Anything else?

Thanks!!!!

[GZG]

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@TyrannicalDuncery3 wrote:

Is there anything that I should know about CreditKarma's "no ding decline" offers before I apply?

I know that these offers can have unintended problems.

I was wondering:

• Do the CreditKarma ones prevent ALL of my bureaus from being hard pulled? Just TransUnion? Just Equifax?

• Does applying through CreditKarma send me through a different underwriting process compared to the issuer's normal process?

• Does applying through CreditKarma stop me from getting other perks like public signup bonuses?

• Anything else?

Thanks!!!!

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can you show us what offers you're seeing with that? Are you seeing this on CK or Experian?

Citi absoutely does not do no ding decline, so they did not read what they were seeing correctly.

four types of issuers currently offer this type of underwriting: Amex, Goldman (Apple Card) and the subprime garbage/some rebuilding cards and some synchrony cards like venmo/PPMC 

if you're seeing something different than those ones, it would be a new DP 

applying from CK won't change the underwriting and as for any offer you get, you will have to see the terms being offered when you apply through them, it may be worse/better/same than the public offer

also won't stop HPs if approved (think Syncrony PPMC, no HP if declined, but instant HP if approved) or Amex/Apple card after you accept the offer for approval

[SRT4kid93]

@TyrannicalDuncery3 

There are some cards that soft pull your credit when you apply. If they approve you, they give you a chance to accept or decline the card.

If you accept you get the card, along with the hard pull. If you decline, you don't get the hard pull and you go on with your day. 

Amex is the company most known to do this, but a lot of the sub prime issuers have started doing this.

i think they may have an agreement with credit karma, and therefore they may only do this on credit karma. As a way to entice people more to apply for cards on credit karma. Karma gets money for being the middle man and the company gets more customers 

if you see this on credit karma and it's not an Amex, it's going to be a deep subprime card you don't want. 

[TyrannicalDuncery3]

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can you show us what offers you're seeing with that? Are you seeing this on CK or Experian?

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Yep! Here's the offer of interest from CK: https://imgur.com/a/9U4CAoO

I do think this counts as "subprime" but I am interested in this card at some point. Probably will pass for  now. (I decided I wanted this card and then looked for it on CK, not the other way around.)

[JoeRockhead]

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Credit Karma's application links are nothing more than affiliate, or referral links where yes, they receive compensation for a referral that turns into an approval.  I think it's a bit of a stretch to say that if it's not Amex, it's going to be a deep sub-prime card.   I wouldn't classify the Paypal cashback MC as a sub-prime card.  Issued by Synchrony, who also does a no ding pre-approval for many of their cards.  In addition, they've been known to show you a pre-approved starting limit before you accept.  

CK has their own predictive models that determine approval odds, including their "guaranteed approval or you get $xx if denied" which include many prime cards from major issuers. 

American Express, Capital One, Chase, Citi, Discover, Wells Fargo and Synchrony all offer SP pre-approvals which are in essence a no ding way to see if you're pre-approved.  It's my opinion that the "no ding" terminology used by CK is marketing fluff.  An application through CK doesn't carry any more weight than if you applied directly with the issuer. 

[coldfusion]

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@TyrannicalDuncery3 wrote:

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can you show us what offers you're seeing with that? Are you seeing this on CK or Experian?

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Yep! Here's the offer of interest from CK: https://imgur.com/a/9U4CAoO

I do think this counts as "subprime" but I am interested in this card at some point. Probably will pass for  now. (I decided I wanted this card and then looked for it on CK, not the other way around.)

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Synchrony's sweet spot is with near-prime applicants i.e. late stage rebuilders with derogs reporting but clean status since the negative events and they aren't fee harvesters;   I wouldn't consider the Paypal card as being subprime. 

[GZG]

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@TyrannicalDuncery3 wrote:

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can you show us what offers you're seeing with that? Are you seeing this on CK or Experian?

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Yep! Here's the offer of interest from CK: https://imgur.com/a/9U4CAoO

I do think this counts as "subprime" but I am interested in this card at some point. Probably will pass for  now. (I decided I wanted this card and then looked for it on CK, not the other way around.)

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yeah that's just how the PPMC works, that has nothing to do with CK, you can apply for the PPMC directly through Paypal/Synchrony and get the same 'no ding apply' terms

when you apply for PPMC, synchrony checks if approved

if approved -- HP -- Account Opened

if denied -- no HP