While on-time re re payments makes it possible to build credit when reported to your three credit that is major, many LendUp loans aren’t reported towards the major credit scoring agencies. Your credit won’t be affected in every real means, good or negative, unless you’re an associate of an increased tier into the LendUp Ladder program (and also the accessibility for the varies by state).
LendUp only reports loan re payments into the three credit that is main for installment loans in the Platinum and Prime quantities of the LendUp Ladder (reporting is optional at Platinum and automatic at Prime).
We recommend checking out some other options like credit cards or credit builder loans, which we outline a bit later in this article if you’re looking to build credit history.
Imagine if I’m Not Approved?
If you’re not approved, the information regarding why are going to be for sale in your account dashboard as soon as you join. LendUp will be sending you a contact once you’re qualified to reapply, but there’s no time that is official on what long that is.
Can I Get Another Loan With LendUp?
If you need it after you pay off one LendUp loan, you’ll be able to get another one. You frequently have to wait more or less four times (though this might differ based on your bank).