How does applying for a loan affect my credit?

Checking your rate on Upstart will not affect your credit score.  If you proceed with your application after receiving a rate your credit score may be impacted.


When you check your rate, we make a “soft credit inquiry."   Soft credit inquiries on your report do not lower your credit score, but you may see when you view your report that this inquiry was made. If you are offered a loan and proceed with the application, we will then make a “hard credit inquiry” to verify the accuracy of  your application.  This action will be recorded as an inquiry on your report and it may impact your credit score.


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