I received an offer letter in the mail but when I applied I was declined/pre-approved for less. Why?

The letter you received in the mail is a pre-approval offer based on very limited information that we had about you. We try our best to honour these pre-approval offers, but we also need to be socially responsible with our lending. 
 
Receiving a pre-approval offer means that we think you might meet our lending requirements—but all of our pre-approval offers contain a disclaimer that the offer isn’t a guarantee and remains subject to our complete credit approval process. Like all lenders, before we can give you a final approval we have to do a more thorough check. This typically consists of verifying your personal info (like your identity and your income information) to ensure that you do meet our requirements.
 
At Mogo, we work hard to make our products and services as accessible as possible. We have a robust credit approval process in place to ensure that our clients are approved for credit products that are appropriate for their particular financial situation. Unfortunately, we can’t always approve you for the exact product or amount that you are looking for.
 
Even if you weren’t approved, you can still enjoy all the other benefits of your MogoAccount.