If you’re considering taking out a loan from LendingPoint, you may wonder if it will hurt your credit. The answer is that it depends on how you manage the loan. See what our Lending Point Review has to say about the company.
Will LendingPoint hurt my credit?
When you apply for a loan from LendingPoint, they will make a hard inquiry into your credit. This can temporarily lower your score by a few points, but this effect is usually temporary and should not have a lasting impact on your credit.
If you make all of your payments on time and in full, then taking out a loan from LendingPoint should not hurt your credit. However, if you miss payments or make late payments, then it could hurt your credit score.
It’s important to remember that any loan can affect your credit score positively or negatively, depending on how well you manage it. So if you are considering taking out a loan from LendingPoint, make sure to read the terms and conditions carefully and only borrow what you can afford to pay back in full and on time.