When you apply for a loan, requesting an updated credit report is part of the process, and this will appear as a 'footprint' on your credit report, which is a factor in calculating your credit score. This varies depending on your country of residence or credit bureau.
If you decide to accept a loan offer, you will need to provide a recent credit report for us to understand your credit history. To learn how to get your credit report, click here. If you have taken out a loan with Prodigy Finance and begin your repayment period, we’ll then provide this information to the relevant credit bureaus on your behalf. Find out more here.
What will Prodigy Finance report to the credit agencies?
We submit a few different types of data to the credit bureau.
They need to identify you:
- First, we send information to help the credit bureau identify you. This includes your name, address, and birth date. The credit bureau will then match our records with the information they already have on file.
Your loan history with Prodigy Finance:
- Second, we send information about your loan. This includes the outstanding balance on your loan, any arrears, installment plan, or special statuses, such as grace or forbearance.
Who does this affect?
- For those who took a loan with us to cover the cost of your studies while you were in school, we'll start sending information to the credit bureau from 28 April 2019.
- For customers who refinanced an existing loan with Prodigy Finance, we will share the full history of your loan.