Q: What type of credit check is performed during account verification?
During the account verification process, we conduct a light credit check. This type of inquiry provides a view of your financial history, including details like your open accounts and payment history. Importantly, light credit checks do not impact your credit score and are not visible to other lenders.
Q: Will the credit check affect my credit score?
No, a light credit check does not affect your credit score. These checks are designed to be non-intrusive and do not leave a footprint on your credit report.
Q: How does a light credit check differ from a hard credit check?
A light credit check provides a general overview of your credit profile and is typically used for pre-approval or background check purposes. It does not require your consent and does not impact your credit score. In contrast, a hard credit check is a more in-depth review of your credit history, often conducted when you apply for new credit. Hard checks can affect your credit score and are visible to other lenders.
Q: Will multiple light credit checks lower my credit score?
No, multiple light credit checks will not lower your credit score. They are considered low-risk inquiries and do not suggest to lenders that you are experiencing financial difficulties.
Q: Can I see the light credit checks performed on my account?
Yes, you can view the light credit checks conducted on your account. They will appear on your credit report, but only you can see them; they are not visible to other lenders.
Q: Will light credit checks impact my ability to obtain credit elsewhere?
No, soft credit checks do not impact your ability to obtain credit from other sources. Since they do not affect your credit score or leave a visible mark on your credit report, they do not influence lenders' decisions when you apply for new credit.
If you have any further questions or concerns about the credit check process, please feel free to contact our customer support team.
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