Does amazon report their loans for my credit score?
Been using Amazon Lending for over a year now and I've paid off all my loans on time with no issues. However, I haven't seen my credit score go up. Does amazon report my loans for whoever calculates my credit score? If not, is there a way I can report it to help boost my credit and get better loans such as through Marcus?
Does amazon report their loans for my credit score?
Been using Amazon Lending for over a year now and I've paid off all my loans on time with no issues. However, I haven't seen my credit score go up. Does amazon report my loans for whoever calculates my credit score? If not, is there a way I can report it to help boost my credit and get better loans such as through Marcus?
10 replies
Tatiana_Amazon
Hi @Seller_hsElE7nS8eRMr,
I'm not a credit or lending expert and am not able to offer advice on the subject, but I would suggest reaching out to Amazon Lending directly for any questions regarding the impact to your credit. Their contact information can be found here.
Tatiana
Seller_vFSqNGJcIdSbD
They would report to your business credit score, not your personal credit score
Seller_y7K2usRrDUAe8
Not a financial consultant but this is my understanding.
Business loans CAN affect your personal credit score, but indirectly. So even if you pay your loan on time without issues, it wouldn't impact your personal credit score all that much.
One way that I can think of that a business loan would directly impact your personal credit score is you sign a Personal Guarantee, which you use your "personal credit score" to guarantee (backing) your business loans.
Seller_TvaTXH61RRGLO
It depends on how big the loan is. If it is above a certain amount they report it to your business credit score not your personal credit.
Seller_BfFB0O3AtGVPh
From the Amazon/Lendistry Loan Page
Impact to your credit score
Applying for financing does not affect your credit score.
Your payment history with Lendistry will affect your personal credit score.
Seller_14o3oVAXRYtJd
Business loans typically do not appear on personal credit reports unless they are personally guaranteed by the business owner. If you, as the business owner, personally guarantee the loan, then the loan and its repayment history may be reported on your personal credit report. However, if the loan is taken out solely in the name of the business and is not personally guaranteed, it generally will not appear on your personal credit report.
Seller_08TZq9sOIaGvv
Miss a payment and you will have your answer.
Seller_Qbd0RsfZFEZBY
Our Amazon Loans have not been reported on our business or personal credit.
Neither has our Goldman Sachs LOC through Amazon
