CREDIT SCORES & REPORTS

At OneLoanPlace.com, we advocate consumer awareness. In this day and age, a large part of that awareness is knowing what is being reported about you to the credit bureaus. For this reason, today's savvy consumer knows their credit score, reviews their credit report annually (at a minimum), and is kept informed of any changes or discrepancies.

Why is checking your credit report so important?

A good credit rating is essential! It helps you access more affordable options when seeking financing for a home, car, or anything else you may need (or want) in life. Credit scores directly affect how a potential lender determines the level of risk in lending to you. Your credit rating is the primary measurement used by lenders to decide whether or not to offer you credit - and at what interest rate that credit will be given. This is why keeping tabs on your credit score is the best way to ensure your rating remains healthy, and you remain a good credit risk in the eyes of lenders.

So, how does a consumer keep an eye on their credit score?

The easiest way is to use one of our trusted partners who can help you access your reports and credit rating. Our partners offer monitoring services that frequently pull your credit history to ensure any changes to your report are accurate.

Why is it so important to review your credit report?

Firstly, your credit report can include errors, inaccuracies, and omissions which directly affect your perceived credit worthiness to a potential lender. As a client of one of our partners, you will have access to all three major credit reporting agencies, TransUnion, Experian, and Equifax, so you can be positive your credit information is accurate.

Secondly, identity theft is an unfortunate reality in today's world, and affects millions of American’s each year. Our partners offer frequent identity monitoring, which checks your report for key changes that could indicate fraud, identity theft, or erroneous negative information. And if identity theft or fraud does occur, our partners will support you in resolving the matter.

One of our representatives will be happy to answer any questions you may have, and refer you to one of our credit monitoring partners.

Loan Option disclosure:


Our personal loan lenders may offer payment terms from twelve to a maximum of eighty-four months. Our lenders offer annual percentage rate (APR) from 4.79% to a maximum annual percentage rate (APR) of 35.99%. Our lenders DO NOT offer short term or payday loans.

We are not the direct lender. We have lenders in most states and work to connect you with the best available options based on your current situation.


Here is an example of the cost of a loan for a person with an excellent credit profile:
If you take a $10,000 loan for a five year term at 8% interest rate with a 3% origination fee, you would receive $9,700 ($10,000 less the $300 origination fee) and would make sixty monthly payments of approximately $202.76 which equates to an APR of 8.69%. The total cost of the loan would be $12,165.60.


We are partnered with multiple national lenders and all credit situations are considered. Additional information offered below:

APR, INTEREST RATE, and ORIGINATION FEES

An APR shows you the cost of borrowing money on a yearly basis. It can help you quickly compare different loans or credit cards on an apples-to-apples basis. The APR on a personal loan can include both the interest rate and origination fee. The origination fee may also be deducted from your loan proceeds, and there is usually no fee if you do not receive a loan.
The Annual Percentage Rate (APR) is the rate at which your loan accrues interest, and is based upon the individual lender's program. All terms and conditions for any loan for which you qualify will be presented before you submit your application. APRs vary from 4.79% to 35.99% for unsecured personal loans.
For example, If the origination fee is deducted and you receive a $6,000 36-month loan at an interest rate of 6.99% with a 2% origination fee of $120.00, you could receive a loan amount of $5,880.00 and make 36 monthly payments of approximately $185.24 at an 8.36% APR. In the case of a $20,000 60-month loan at an interest rate of 7.62% with a 3% origination fee of $600.00, you could receive a loan amount of $19,400.00 and make 60 monthly payments of approximately $401.90 at an 8.91% APR. Your actual monthly payment usually varies based on the APR, loan amount and term selected.

Credit Implications

Our participating lenders may verify your social security number, driver's license number, national ID, or any other state or federal identification, and review your information against national databases to include, but not limited to, Equifax, Transunion, Experian, Teletrack, or DP Bureau to determine credit worthiness, credit standing and/or credit capacity. Some of our participating lenders will not perform credit checks with the three major credit reporting bureaus. When third parties check your credit score, it can lower your credit score. We will make every effort to only present programs that qualify and benefit your situation, and in hopes, help increase your chances of getting a loan with our lenders. Credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, typically will not affect your credit score. By submitting your registration through this website, you agree to allow participating lenders to verify your information and check your credit as described in their policies and terms.

Implications of Late Payments

Each lender has its own criteria and policy when it comes to late payments. This may include additional fees and interest, and may result in reports to the three major credit reporting bureaus causing your credit score to be lowered. Before you agree to a loan, be sure you have read and understand the implications of making late payments. Also, each state has rules and regulations in place that lenders must follow when assessing fees for late payments.

Implications of Non-Payment & Collection Practices

If you do not make the payments on your loan, you may be responsible for additional fees and interest and collection costs. This may lower your credit score. Lenders are required by federal and state laws to use fair practices in their collection actions for a loan that has not been repaid. Lenders should comply with the following practice:

  • Not contacting you by phone before 8 am or after 9 pm
  • Not harassing you or using abusive language towards you over the phone
  • Not using deception to try to collect money from you
  • Not threatening you with legal action if it is not permitted

We will only allow lenders who are reputable and maintain their reputations actively; however, if you find any behavior that is not professional, or you feel is predatory, we need and want to know immediately. We are your advocate and your experience with us is paramount to the success of our company. We appreciate your trust in us to help you with your loan needs.