So you want to talk about credit reporting?

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One of the many benefits of Sezzle is the ability to build your credit! When you upgrade to Sezzle Up, you consent to having us report your Sezzle payment history on your behalf. By making your payments on time, you can increase your credit score, whereas missed payments may adversely impact your credit score. To ensure you are on the road to success, continue making responsible purchasing and repayment decisions.

Please see below for some of the most frequently asked questions about Sezzle credit reporting! 

What type of credit does Sezzle show up as? 

Sezzle will show up as a line of credit.

What information do we send to TransUnion?

When we report to TransUnion, we send a snapshot of several account details, including the following information:

  • User information, including your name, SSN, date of birth, and address 
  • Credit limit, total credit limit as of the month-end cut-off 
  • Date opened, the day you enrolled in Sezzle Up
  • Current balance, total of all payments not yet paid as of the end of the reporting month
  • Amount past due, which includes all payments that are 30 days or more past due at the end of the reporting month
How often and when do we report to TransUnion? 

Your Sezzle account activity will be reported on a monthly basis and include a snapshot of your outstanding balance against your total limit and payment status.

When we report to TransUnion, we are required to take a snapshot of a user’s account that usually takes a couple of weeks to process before getting uploaded to an actual credit report. Due to this, it is very common that there may be recent changes on your account, such as balances being paid off, failed payments being resolved, and other activity that was not captured when we initially sent the file to be reported. Don’t worry though, these will be reflected the next time we report!

At the end of each month, we prepare a quick report of your account for TransUnion, which will usually be reflected on your credit report a few weeks later. Any payments or updates you make on your account will not show up on your credit report immediately. Typically, they appear a few weeks after the end of the month when they occurred. 

How does my Sezzle repayment history impact my credit?

Any time you open a new line of credit, loan, or credit card (basically any type of payment where you are borrowing money and then paying it back), it affects the overall “age” of your credit and this is why you may see a dip in your credit score at first! As you begin to build up your repayment history with us and increase the age of your credit, your credit score should reflect that.

Sezzle is just one piece of your overall credit puzzle, so there may be other things affecting it as well, which is why we recommend reaching out to a financial advisor who can assist with giving you an overall picture of your credit and where it currently stands! s

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