How does MPOWER pulling my credit report affect my credit score and history?

Any potential lender that pulls your credit information, including MPOWER, will show up as an inquiry on your credit report. As part of that inquiry, there may be a slight lowering of your overall credit score. This impact is temporary, though it can take several months for your score to bounce back up. The U.S. credit bureaus (Experian, TransUnion, and Equifax) can also see if you are rate shopping when you apply for several different student loans during a 30-day period of time. Typically, multiple inquiries in a short amount of time are treated as a single inquiry and will have a relatively small impact on your score. You can learn more about how multiple inquiries affect credit scores by visiting the credit bureaus’ websites. MPOWER obtains U.S. credit information from TransUnion, and the company’s FAQs can be found at https://www.transunion.com/credit-report.

© MPOWER Financing, Public Benefit Corporation

DISCLAIMER - Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.