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Credit Authorization

Your Authorization

By submitting a loan request through Ascend Lending, you authorize us and our participating lenders to obtain and review your credit information.

Types of Credit Checks

Soft Credit Check (Prequalification)

During the initial prequalification process:

  • We or our lenders may perform a "soft" credit inquiry
  • Soft inquiries do not affect your credit score
  • This allows us to match you with potential loan offers
  • You can check rates without impacting your credit

Hard Credit Inquiry (Loan Acceptance)

If you accept a loan offer:

  • The lender will perform a "hard" credit inquiry
  • Hard inquiries may temporarily lower your credit score
  • This is a standard part of the formal loan approval process
  • The impact is typically minor and temporary

What We May Access

Your authorization allows access to:

  • Credit reports from one or more credit bureaus (Equifax, Experian, TransUnion)
  • Credit scores
  • Credit history and payment patterns
  • Public records (bankruptcies, judgments, liens)
  • Account information

Credit Bureaus

We and our lenders may obtain credit information from:

  • Equifax
  • Experian
  • TransUnion
  • Alternative credit reporting agencies

Purpose of Credit Checks

Credit information is used to:

  • Evaluate your creditworthiness
  • Determine loan eligibility
  • Set interest rates and terms
  • Verify your identity
  • Prevent fraud
  • Comply with lending regulations

Information Sharing

By providing this authorization, you also consent to:

  • Sharing your application information with lenders in our network
  • Lenders obtaining their own credit reports
  • Exchange of information for fraud prevention
  • Reporting of your loan performance to credit bureaus (by your lender)

Duration of Authorization

This authorization remains in effect:

  • For the current loan request and any future requests you submit
  • Throughout the life of any loan you accept
  • For ongoing account review and servicing
  • Until you withdraw authorization in writing

Your Credit Rights

You have the right to:

  • Receive a free copy of your credit report annually from each bureau at annualcreditreport.com
  • Dispute inaccurate information on your credit report
  • Know what information is being reported about you
  • Place a fraud alert or security freeze on your credit file

Fair Credit Reporting Act

Your credit information will be obtained, used, and shared in accordance with the Fair Credit Reporting Act (FCRA) and other applicable federal and state laws.

Withdrawing Authorization

You may withdraw this authorization at any time by contacting us in writing. However:

  • Withdrawal will prevent processing of new loan requests
  • Withdrawal does not affect credit checks already performed
  • Existing loans remain subject to ongoing credit reporting

Questions?

If you have questions about credit checks or your credit rights, please contact us or visit consumerfinance.gov.

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