How does applying for a loan affect my credit?

Checking your rate on Upstart will not affect your credit score. When you check your rate, we make a “soft credit inquiry." Soft credit inquiries may appear on your credit report and do not lower your credit score. If you are offered a loan rate and proceed with the application, we will then make a “hard credit inquiry” to verify the accuracy of your information. This action will be recorded as an inquiry on your report and will impact your credit score.

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