How Credit Analysis Works at Banks
Credit analysis is the process by which banks evaluate whether you're a good borrower. Factors considered include credit score, verified income, payment history, and relationship with the financial institution.
Online lenders like SoFi, Upstart, and Prosper use artificial intelligence for instant online credit approval in minutes, checking databases like Experian, Equifax, and TransUnion.
Even with bad credit, there are options like secured loans with vehicle or home collateral offered by LightStream and other fintech lenders.