What kind of personal information is required?
We ask for information that will help identify you and retrieve your credit history. We request your name, address, phone number, birth date, residence type, employment information, value of assets, and Social Security number to process your loan application.
Why do you need my Social Security number?
We need your Social Security number to request a soft inquiry from credit bureaus to provide you with a prequalified loan rate. We will also request your full credit report from the credit bureaus should you apply for a personal loan.
Why do you have to run a credit check and will it affect my credit score?
Your credit history informs us of your lines of credit and payment history. Your credit report is one of many factors we evaluate as part of your application for a personal loan. Our request for a soft credit inquiry during the loan prequalification process will not affect your credit score. Once you decide to apply for a personal loan, a hard inquiry is run prior to transferring money to your account to ensure there have been no significant changes.
How will applying for a personal loan impact my credit score?
Prior to depositing the loan proceeds into your bank account, we will request a hard credit score inquiry. Once funding is completed, we will also report a new credit account and payment history to the credit bureaus. The credit bureaus take information in your credit report, such as the number of inquiries, open credit accounts, payment history, and other factors, to generate a credit score for that moment in time. See www.ftc.gov/credit for additional information.
What do you do with my personal information?