Will applying for a Instant Loan impact my credit score?
To check your rates, a soft credit pull is required. A soft pull may show up on your credit report, but it will not impact your credit score.
If you choose to submit your application for a loan, we will request a hard credit pull from one or more consumer reporting agencies. A hard credit pull will show up on your credit report, and may impact your credit score.
Will my Instant Loan payments be reported to the credit agencies?
We report loan payments to at least one of the major credit bureaus as you repay your loan. Complete, on-time payments might help improve your credit score, but late or missed payments might negatively affect your score.
Why do I see FinWise Bank or Albert on my Consumer Report?
You may see FinWise Bank referenced on your consumer report if you applied for a loan through Albert that was originated by FinWise Bank. In some instances, loans may have been originated by Albert directly in which case you may see Albert referenced on your consumer report.
Albert reports information about your loan (such as on-time, late, and missed payments; any defaults; and the fact you paid off your loan) to consumer reporting agencies (e.g. Experian, Transunion, and/or Equifax).