The importance of establishing a credit history

ERIKA:
We have George González, Oportun’s communications director, with us today. Good morning.

GEORGE:
Good morning, Erika.

ERIKA:
Can you tell us a little about Oportun and how it helps our community?

GEORGE:
Of course. Oportun is a fintech lender and a neo-banking platform that utilizes artificial intelligence to make financial health simple for anyone.

In addition to operating with a strong social mission, we are focused on providing our customers with inclusive, affordable, and empowering financial products and services.

ERIKA:
Tell us why establishing a credit history is so important.

GEORGE:
Having good credit is essential to achieve financial success in this country. A person’s credit score can affect their type of housing, the type of car they drive, or even their employment options.

ERIKA:
How can you establish a credit history?

GEORGE:
The most common way is applying for a personal loan or applying for a credit card.

But we have to be clear that the options for a person without a credit history are limited. For example, to apply for a loan may require some form of deposit, or a credit card may have a very high interest rate.

ERIKA:
Tell us how Oportun can help.

GEORGE:
We can help by extending a loan with a fixed interest rate and fixed payments, and with the ability pay the loan in months instead of weeks.

ERIKA:
How can we check our credit history?

GEORGE:
The easiest way is by requesting it for free at one of the three national credit bureaus: Experian, Equifax, and TransUnion. By law, consumers have the right to request a copy of their credit history for free once a year.

ERIKA:
Establishing a good track record is very important and Oportun can help you. Call the number on the screen or visit the website for more information.

Thank you very much, George.

GEORGE:
Thank you for having me.

The information in this site, including any third-party content and opinions, is for educational purposes only and should not be relied upon as legal, tax, or financial advice or to indicate the availability or suitability of any Oportun product or service to your unique circumstances. Contact your independent financial advisor for advice on your personal situation.


Personal loans through Oportun subject to credit approval. Terms may vary by applicant and state and are subject to change. If you refinance, you may pay interest over a longer period of time or at a higher rate and the overall cost of your loan may be higher. Loans in NM and WI are originated by Oportun, Inc. California loans made pursuant to a California Financing Law license. NV loans originated by Oportun, LLC. In AL, AK, AR, AZ, CA, DE, FL, GA, HI, ID, IL, IN, KS, KY, LA, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, and WY loans are originated by Pathward®, N.A.. Terms, conditions, and state restrictions apply.