6 Loan Companies That Use TransUnion Only

TransUnion is one of three major credit reporting agencies that collects and maintains consumer credit history to ensure that creditors have the information they need to make lending decisions. There are some loan companies that use TransUnion only for credit checks. If your strongest credit report is held by TransUnion, you may want to apply for a loan from one of these companies: Alliant Credit Union, Avant, Barclays, Payoff, Prosper, and Upgrade.

Loan Companies That Use TransUnion Only

TransUnion, Equifax, and Experian are the three major credit reporting agencies in the U.S. Creditors can choose which agencies to report information to — whether one, two, three, or none at all. This is why your credit score can vary by agency.

If your strongest credit report is held by TransUnion and you want to improve your odds of approval for a loan, you may want to find a loan company that uses TransUnion only. Below, we have the list of six personal loan companies that only use TransUnion for credit checks.

Note: You should be aware that even if a lender only pulls from TransUnion, it may still have strict credit requirements for approval. Additionally, lenders may decide to pull your credit from more than one credit bureau, especially for large loans and/or if your credit score is, for example, borderline Fair-Good from one bureau. When a lender receives multiple credit reports, it will use the lower of two scores or the middle of the three to make a decision, Forbes reports.

When applying for loans, you should also be aware of the loan’s terms and interest rates. Having a thorough understanding of the total cost of the loan and what will happen if you miss a payment can help you avoid issues managing your loan. It is helpful to know that you will be able to repay the loan before applying by budgeting for your repayment plan. Defaulting on a loan will negatively impact your credit score.

Alliant Credit Union

  • Type of loan(s): Personal
  • Loan term: 12 to 60 months
  • Maximum loan amount: $50,000
  • APR: 5.99 to 9.99%
  • Minimum credit score: No exact minimum; loan decisions are based on multiple factors
  • Application requirements: You must be an Alliant Credit Union member for at least six months before you are eligible to apply for a loan. You also must be at least 18, have a government-issued photo ID, and provide a Social Security number.
  • Source: Customer service and Alliant Credit Union website

Avant

  • Type of loan(s): Personal
  • Loan term: 24 to 60 months
  • Maximum loan amount: $35,000
  • APR: 9.95 to 35.99%
  • Minimum credit score: No exact minimum; loan decisions are based on multiple factors, but customers’ credit scores are typically between 600 and 700
  • Application requirements: You must be at least 18, provide a Social Security number, and have a valid checking account. You may be asked to provide additional documentation, such as a government-issued photo ID.
  • Source: Customer service and Avant website

Barclays

  • Type of loan(s): Personal
  • Loan term: 36 to 60 months
  • Maximum loan amount: $35,000
  • APR: From 4.99%
  • Minimum credit score: No exact minimum; loan decisions are based on multiple factors
  • Application requirements: Currently, Barclays Personal Loans is an invitation-only product. Personal loans may be open to the public soon.
  • Source: Customer service and Barclays website

Payoff

  • Type of loan(s): Personal
  • Loan term: 24 to 60 months
  • Maximum loan amount: $35,000
  • APR: 8 to 25%
  • Minimum credit score: 640
  • Application requirements: You must be at least 18, provide a Social Security number, and have a valid checking account. You may be asked to provide your two most recent pay stubs, a recent bank statement, and a government-issued photo ID.
  • Source: Customer service and Payoff website

Prosper

  • Type of loan(s): Personal
  • Loan term: 36 to 60 months
  • Maximum loan amount: $40,000
  • APR: 6.95 to 35.99%
  • Minimum credit score: 640
  • Application requirements: You must be at least 18. You’ll need to provide recent pay stubs, tax returns or bank statements, a Social Security number, and a government-issued photo ID.
  • Source: Customer service and Prosper website

Upgrade

  • Type of loan(s): Personal
  • Loan term: 36 to 60 months
  • Maximum loan amount: $50,000
  • APR: 6.87 to 35.97%
  • Minimum credit score: 620
  • Application requirements: You must be at least 18 and have a valid bank account and email address. You may be asked to provide recent pay stubs and bank statements, as well as a government-issued photo ID. Apply for a loan on the Upgrade website.
  • Source: Customer service and Upgrade website

In Summary

There are a few lenders that use TransUnion only when looking into your credit history including Barclays and Upgrade. Be aware that, particularly for large loans, lenders may choose to pull your score from more than one bureau. In most cases, even if only your TransUnion score is pulled, you’ll still need a valid checking account and a Social Security number to apply for a personal loan, and you may be asked for additional documentation — like recent pay stubs.

Want to apply for a credit card instead? See our article: Which Credit Card Companies Use TransUnion Only? (Reportedly).

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