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Do Square Loans show on your credit report?

my square loans dont report on my credit report , any way to change this ?

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Square Community Moderator

Best Answer

Hi there!

 

Square Loans won’t impact your credit score since we personalize your offers based off your history with Square. Rather than an interest rate, you’ll repay your loan through a fixed percentage of your daily card sales. Your repayment rate is directly linked to your sales with Square. 

 

There isn't a way to change this, but I'll definitely let our Loans Team know that it's something you would like to see!

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Square Community Moderator

Best Answer

Hi there!

 

Square Loans won’t impact your credit score since we personalize your offers based off your history with Square. Rather than an interest rate, you’ll repay your loan through a fixed percentage of your daily card sales. Your repayment rate is directly linked to your sales with Square. 

 

There isn't a way to change this, but I'll definitely let our Loans Team know that it's something you would like to see!

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No I don't want it to show on my report or for it to be a inquiry on my credit report that is what I was wondering.

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Square

@Bella1 - Happy to follow up more directly, when you apply, neither Square nor Celtic Bank will pull your credit, nor will your personal credit score be adversely affected by your Square Loans request.


Sean
he/him/his
Product Manager | Square, Inc.
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I was really tempted by the loan offer and I would take the loan if it would improve my credit score.. 

 

Since there is no credit reported there is no advantage to your offer.

 

Please fix this.

Thanks

 

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Hey @Switchback, we have no plans to report loans to credit agencies since we base offers on your Square Account and not your credit score. 

 

Theres the obvious advantage of having extra loans to grow your business! 😀

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please tell somone. I would take put a loan more often if it was reported to a credit bureau.

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Does square report the loan to D&B? Asking because I am focused on building business credit and have a loan with square, but wasn't sure if its reported or not.

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Square

Hi @EQueendom

 

Happy Monday! 

 

Thank you for giving us additional context! To answer your question-- Square Loans currently does not report loans to D&B. A loan through Square Loans doesn’t impact your credit score, either negatively or positively. We can provide a letter of completion after full repayment of your loan upon request, but you will not see an impact to your credit score.

 

For more information about your credit score and Square Loans, check out our FAQs.

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Who do I request the letter from?

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Square

@EQueendom

 

You can contact us by either giving us a call 📞or by shooting us an email 📩. For more information, take a look at "How to Contact Square Loans"

 

Hope this is helpful!

 

 

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Does the square loan show on my credit report as a debt, regarding the debt to income ratio??

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Hey @karunathecow! Thank you for posting. We will not access or review your personal credit report to evaluate the application, therefore a Square loan will not show up on your credit report. 

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Was considering doing a square loan but worry about inquiries on my credit report. Does square loans show on a credit report?

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Square Community Moderator

@Bella1 Check out the information in this existing thread and let me know if you have any other questions 🙂

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Does the square loan show on anything that can be visible by a mortgage company? I am going to buy a house and wanted to know if the loan will show up for the business or myself on anything They will have access to

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Hey there.  It's been a while since I asked this question, but I guess they do not use your credit score / report it to a bureau.

In my case, I would want it on my credit report as a good reference, but they just loan money on your square account average I guess.   Good luck!!

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Yea I don’t want it to show up as a debt against me, but not sure they have access to see it somewhere other than my credit .

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It's not a bad offer, especially where they just deduct the payment right out of your square sales.  Very convenient!   

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Oh I know! I have taken several in 4 years. I have one now, and my fear is that debt will be an issue for my mortgage, but if they don’t see it on my credit, then I assume they won’t know it’s there m

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Does Square run an inquiry on your credit report

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