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Does square capital show on your credit report?

square capital doesnt report on my credit report , any way to change this ?

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Message 1 of 24
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Square

Re: Square capital doesn't report on my credit report , any way to change that ?

Hi there!

 

Square Capital 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 Capital Team know that it's something you would like to see!

Message 2 of 24
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Re: Square capital doesn't report on my credit report , any way to change that ?

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.

Message 3 of 24
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Square

Re: Square capital doesn't report on my credit report , any way to change that ?

@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 Capital request.

Message 4 of 24
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Re: Square capital doesn't report on my credit report , any way to change that ?

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

 

Message 5 of 24
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Admin

Re: Square capital doesn't report on my credit report , any way to change that ?

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 capital to grow your business! 😀

Message 6 of 24
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Re: Square capital doesn't report on my credit report , any way to change that ?

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

Message 7 of 24
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Re: Square capital doesn't report on my credit report , any way to change that ?

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

Message 8 of 24
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Square

Re: Square capital doesn't report on my credit report , any way to change that ?

Hi @EQueendom

 

Happy Monday! 

 

Thank you for giving us additional context! To answer your question-- Square Capital currently does not report loans to D&B. A loan through Square Capital 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 Capital, check out our FAQs.

Message 9 of 24
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Re: Square capital doesn't report on my credit report , any way to change that ?

Who do I request the letter from?

Message 10 of 24
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