BrightWay primarily uses Experian to assess credit applications for the OneMain Financial BrightWay® Card. However, it's important to note that OneMain Financial may also use TransUnion or Equifax for this purpose.
When applying for the BrightWay Card, OneMain Financial performs a credit check to evaluate your creditworthiness. While Experian is the most common bureau they pull from, they retain the flexibility to utilize information from any of the three major credit bureaus.
Understanding BrightWay's Credit Pull Practices
To provide clarity on which credit bureaus BrightWay may access, refer to the table below:
| Primary Credit Bureau | Other Potential Credit Bureaus |
|---|---|
| Experian | TransUnion, Equifax |
This practice means that an applicant's credit report from any of these three bureaus could be reviewed during the application process.
Practical Considerations for Applicants
Given that BrightWay may pull from any of the major credit bureaus, it is crucial for applicants to prepare accordingly, especially if they have security freezes on their credit reports.
- Unfreeze Credit Reports: If you have frozen your credit reports with Experian, TransUnion, or Equifax, you should unfreeze them before applying for the BrightWay Card. Freezing your credit reports is a security measure that prevents unauthorized access to your credit information. However, it also prevents legitimate lenders, like OneMain Financial, from accessing your report for an application.
- Check All Three Bureaus: It's a good practice to review your credit reports from all three major bureaus periodically to ensure accuracy and address any discrepancies before applying for new credit. This helps ensure that the information BrightWay accesses reflects your true credit standing.
By being aware of BrightWay's potential use of any of the three major credit bureaus and taking the necessary steps, such as unfreezing your credit reports, you can help ensure a smooth application process.
