Are no credit check loans available through NetCredit?
Your credit will be checked when you apply for a NetCredit personal loan or line of credit, but we understand that many people are worried about how their current score can affect their eligibility and how checking eligibility can affect their credit moving forward. That’s why NetCredit lending products are designed to help you build your credit history.
Here’s how a customer’s credit could be affected with a NetCredit loan.
- Louise is looking for a way to get funds, but she’s worried that her credit isn’t good enough to get the amount she wants.
- She comes to NetCredit and sees that she can check her eligibility without affecting her credit score.
- She completes her application, and her credit history is reviewed through a soft pull, not affecting the score.
- She is happy with the amount and terms she is offered, so she signs her contract, allowing a hard pull. This hard pull has the potential to affect her score for a time.
- She gets her money and makes all of her repayments on time. Those on-time payments are reported to major credit bureaus, helping Louise build credit history.
What are no credit check loans?
No credit check loans are funds issued by lenders that do not conduct a hard credit inquiry to review borrower’s credit history. Instead of pulling an applicant’s credit report, no credit check lenders look at income, bank information and a range of other criteria. These loans can come in the form of installment loans, payday loans, lines of credit, personal loans or a variety of other lending products.
Borrowers typically seek out such loans on a short-term basis to meet a pressing need, frequently from online or storefront lenders.
The notion of a no credit check loan can be alluring to those who need a bit of quick cash. Perhaps they don’t want a credit inquiry to appear on their credit history, or they might think obtaining loans with no credit check is their only option. Read more
