As the title says, don't bother applying here if you could actually use the money for what they suggest. This company is representative of what is wrong with the lending industry and the credit reporting model in general. I have a strong income, and I have NEVER had a late payment recorded to my credit, let alone any delinquencies or write-offs.
Because my balance-to-limit is high right now, they claim that is a reason (#1 of 2) they denied me. Even though I had the same balances at the time they made their offer, "pre-approved based on my credit", so the propaganda says, now suddenly it's a problem. Isn't this exactly the situation that a loan for debt consolidation/credit card payoff would be for?
Reason #2 of 2 they denied me was because of too many recent inquiries. They mean the auto loan I received on a vehicle I bought two months ago, which lowered my payment, and then a recent refinancing, which made my payment even lower. And the huge slap in the face is that this false offer will now show yet another inquiry on my credit.
I realize the debt is my own and I will be paying it off with or without the help of a consolidation. However, I don't believe it is right for them to send an offer that they have no intention of honoring, especially when applying further impacts my credit score. I did enough research on this company before the fact to find out that they aren't an outright scam, however, subsequent research has turned up that they are only bound to give you a loan if you want a small amount, have good credit AND low balances, and, according to other reports, they want you to cosign with other people even with good credit and high income.