Afterpay may conduct a soft credit check for new customers when they first sign-up to use the platform. This soft credit check will not impact a customer’s credit score. Soft credit checks (also known as soft pulls or soft inquiries) are very common and will not affect credit scores, will not be visible to other lenders or creditors and may or may not be recorded in credit reports, depending on the credit bureau.
Afterpay takes a number of factors into account when making a decision to approve a new customer, a soft credit check is one of those factors.
Why does Afterpay do this?Afterpay wants to ensure that Afterpay is supporting our customers in making the right financial decision for their circumstance. Soft credit checks are one of the criteria that we use to ensure that the initial spending limit is right for our new customers. We want your first experience with Afterpay to be the best for your wallet.
Will a new customer be declined due to a consumer report assessment?
If you are declined due to reasons related to your credit report, rather than fraud, the details will be delivered through the Adverse Notice Message (email received after the decline).
Will using Afterpay Buy Now, Pay Later feature affect my credit score?
No. Afterpay Buy now, Pay Later payments will not affect your credit score, as they are not reported to credit reporting agencies.
Will soft credit checks from Afterpay affect my credit score?
No, soft credit checks do not affect credit scores.