Atlas does not require a specific credit score or even a credit history for you to apply.
Atlas is designed to provide opportunities for everyone to build credit, regardless of their past credit experiences or lack thereof. This approach sets them apart from many traditional lenders.
Understanding Atlas's Credit Approach
Atlas operates on the principle that individuals should have the chance to establish or improve their credit. Key aspects of their application process include:
- No Credit History Required: You do not need an existing credit history to be eligible. This is particularly beneficial for:
- Individuals new to credit, such as young adults.
- Those who have never had a loan or credit card.
- Newcomers to the country building their financial presence.
- No Hard Credit Check: When you apply with Atlas, they will not perform a hard credit check.
- A hard credit check typically involves a lender reviewing your credit report and can temporarily impact your credit score.
- By not conducting a hard inquiry, Atlas removes a common barrier for applicants who are concerned about a potential dip in their score or who might be declined by other lenders due to a limited credit file.
Who Benefits from Atlas's Inclusive Policy?
Atlas's policy is particularly advantageous for various groups of people looking to enhance their financial standing:
- Credit Starters: Anyone beginning their credit journey and needing to establish a credit file from scratch.
- Individuals with Thin Files: People who have some credit history but not enough to be easily approved by mainstream lenders.
- Credit Rebuilders: Those who have faced financial challenges in the past and are looking for a fresh start without the immediate hurdle of a high credit score requirement.
By eliminating the need for a specific credit score or a hard credit check, Atlas aims to provide an accessible pathway for a broader range of individuals to build or rebuild a positive credit history.
