Personal Loans Karma Guarantee

A Karma Guarantee that you see on a personal loan offer (“PL Karma Guarantee”) means that you may be eligible to receive a payout from Credit Karma if: (a) you aren’t approved by the applicable lender for the personal loan; or (b) you are approved for the personal loan, but not on the same or better terms than what was offered to you on Credit Karma. “Same or better terms” means that the loan you are approved for has: (c) the same or higher principal amount than what was offered; (d) the same or lower APR than what was offered; and (e) the same repayment term as what you were offered.  See EXAMPLE¹ below for more information. 

PL Karma Guarantee offers are based on information about your income, housing payment, and other factors, and may come from a variety of sources or be provided by you. You will not be eligible for a PL Karma Guarantee payout if your loan application information, such as income, loan amount, and loan term does not match what you see or input on Credit Karma’s personal loan marketplace.

It is not a guarantee of approval for any personal loan offer. Only the lending partner can make the credit approval.  

To be eligible, you must:

• Not have been eligible for a PL Karma Guarantee payout in the last 90 days;
• Apply for this personal loan offer while signed into your Credit Karma account;
• Complete all required application steps for this personal loan offer, including providing any documents that allow the lending partner to successfully verify the information submitted on your application, and are not approved for this loan with the same or better terms.

By applying for this personal loan offer, you consent to the lender sharing its credit decision with Credit Karma in order to fulfill the PL Karma Guarantee.

In order to receive payment, you must have a Credit Karma account. If eligible we will send you an email with steps to redeem the payment as a prepaid card or gift card within 90 days of when the email was sent. The value of the payment may be reported on an applicable IRS form.

Sponsored and managed by Credit Karma, LLC, not the lending partner. Not Transferable. Credit Karma is solely responsible for PL Karma Guarantee fulfillment, and the lending partner is not responsible in any way for the PL Karma Guarantee. Credit Karma reserves the right to modify, cancel, or limit this promotion at any time. 

¹EXAMPLE: you are offered, and you apply for, a personal loan offer with the PL Karma Guarantee through Credit Karma with a $5,000 principal amount, a 7.89% APR, and a 24-month term. You may be eligible to receive a payment from Credit Karma if any of the following is true: (1) you are declined for this offer; (2) you are approved for a principal amount lower than $5,000; (3) you are approved for an APR higher than 7.89%; or (4) you are approved for a term different than 24 months.