Does Citizens One hurt your credit? This question is about Citizens One

Does Citizens One hurt your credit?

Answer Question Report Abuse

This question is about Citizens One

Grace Enfield, Content Writer

@grace_enfield • 01/05/22 This answer was first published on 01/05/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

A loan from Citizens One will temporarily hurt your credit score because the company will perform a hard pull of your credit history, which may drop your score by about 5 to 10 points. The new loan will also add to your overall debt load, which hurts your credit score. The negative effects don't have to last long, though.

Over time, a loan from Citizens One will help your credit score if you pay the monthly bills by the due date, as doing so adds positive information to your credit reports. This should offset any initial decrease in your credit score after you take out the loan.

To predict how your credit score will be affected, check out the free credit score simulator on WalletHub.

Answer Question

Does Citizens One do a hard inquiry?

Yes, Citizens One does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Citizens One's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your...

read full answer

Is it difficult to get a Citizens One personal loan?

It is not very difficult to get a personal loan from Citizens One because they offer personal loans for people with credit scores as low as 680+. Other Citizens One personal loan requirements include being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.

Citizens One Personal Loan Requirements

Minimum Credit Score: 680+ credit score
Minimum Income: $24,000 minimum income
Age: 18+ years...

read full answer

Does Citizens One verify income for personal loan applications?

Yes, Citizens One will verify your income when you apply for a personal loan. Citizens One requires a minimum annual income of $24,000 to ensure that you can make your monthly payments, and if you don't meet the minimum income requirement, you likely won't get approved.

Citizens One verifies income by requesting your most recent paystub. However, simply meeting the income requirement does not guarantee approval for a loan. There are other Citizens One personal...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.