Financial resources

Our partner UnidosUS can help answer your financial questions

FREE FINANCIAL RESOURCES—JUST FOR YOU

Meet your goals and increase your financial smarts by working with a coach


Through our partner UnidosUS, you can access free coaching to help you meet your financial goals. UnidosUS is ready to talk with you about credit scores, credit reports, debt relief strategies, and other financial issues.

Visit us in person to learn more.

QUESTIONS

How does Oportun help me build a credit history?

Unlike other alternative lenders, we report your account behavior to nationwide credit bureaus. Each month, we let them know whether you’ve paid your loan payments on time and in full. You can establish positive credit when you make your requested payments on or before your due date and pay off your loan in full. It generally takes at least six months to establish an initial credit score.

If you miss payments or make late or incomplete payments, we also report that to the credit bureaus. Such behavior can negatively impact your credit score.

Auto loans, Establishing credit, Payments, Personal loans

What is a FICO® credit score?

Credit scores try to estimate the likelihood that a borrower will pay back debts on time. There are many types of credit scores developed by different companies, but the FICO® score, developed by Fair Isaac Corporation, is one of the most commonly referenced credit scores.

According to Fair Isaac Corporation, your FICO® credit score is a number between 300 and 850, and is calculated by a formula that takes into account the following factors:

  • Payment history (35%)
  • Amount owed (30%)
  • Length of credit history (15%)
  • Credit mix (10%)
  • New credit (10%)
Auto loans, Establishing credit, Personal loans

What is a nationwide credit reporting agency?

There are three nationwide credit reporting agencies, also called credit bureaus: Experian, TransUnion, and Equifax. These companies collect financial and other data about users, which is recorded in credit reports and used to create credit scores. Each bureau does not collect the exact same information, so a person can actually have multiple credit scores, including multiple FICO® credit scores.

Establishing credit
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