Your Credit Rating and Square Loans FAQ
If you received a loan offer through Square and you’re wondering if applying could affect your credit rating, review the questions below.
Does applying for Square Loans affect my credit rating?
No, applying for a loan through Square doesn’t affect your credit rating.
Does my credit rating impact my eligibility?
Does a loan through Square help me build my credit rating?
A loan through Square doesn’t impact your credit rating, either negatively or positively. We can provide a letter of completion after full repayment of your loan, but you will not see an impact to your credit rating.
I have a loan through Square. Will you provide a letter of reference?
Square doesn’t provide credit references.
Once my loan is complete, will I receive a letter of confirmation?
We don’t automatically supply a letter of completion, but our team can provide one if requested. To start the process, you can contact the Square Loans Team.
All loans are issued by Square AU Pty Ltd. (ABN 38 167 106 176). Valid Australian bank account is required. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. Eligibility criteria include consistent and continuous payment card processing through Square. All loans are subject to credit approval. Terms and conditions apply.