Loans That Pull From TransUnion Only: Finding the Best Options

Getting a personal loan can be a great way to finance large purchases or consolidate debt. However, when you apply for a loan, the lender will check your credit by obtaining your credit reports from one or more of the three major credit bureaus – Experian, Equifax, and TransUnion. This is known as a “credit pull.”

Many lenders will check all three reports, but some may look at just one or two So if you have the best credit profile with TransUnion, you’ll want to find lenders that pull only from them when considering your application. This article will explore loans that pull from TransUnion and how to find the best options

Why Apply with Lenders that Pull TransUnion Only?

There are a few key reasons why limiting credit pulls to just TransUnion can be beneficial

• Maximize chances of approval – With all else being equal, if TransUnion shows your highest credit scores, applying with a lender that checks that report specifically can increase your odds of getting approved and getting better terms.

• Minimize hard inquiries – Each time a lender does a hard pull on your credit, it can negatively impact your scores a little So limiting pulls to just one bureau prevents multiple hits.

• Manage credit mix – Having a good mix of credit types (mortgages, credit cards, installment loans, etc) helps your scores. An additional personal loan could improve your mix if reported to TransUnion specifically.

So by being strategic and finding lenders that check TransUnion reports only, you can optimize your loan application process.

Loans that Pull TransUnion Credit Reports

Through research, I’ve identified several top lenders for personal loans that only check TransUnion credit reports:

• LendingClub – This popular peer-to-peer lender is one of the largest online loan providers. They offer personal loans from $1,000 to $40,000 for debt consolidation, major purchases, and more. LendingClub conducts a soft pull initially and only checks TransUnion when you formally apply.

• Payoff – Payoff issues personal loans specifically for credit card consolidation. You can borrow $5,000 to $35,000 with fixed rates from 5.94% to 24.99% APR. They exclusively pull TransUnion for a soft credit check.

• Upstart – Upstart uses alternative underwriting factors like education and job history in addition to TransUnion credit data. Borrow $1,000 to $50,000 with APRs from 6.68% to 35.99%.

• Avant – Avant personal loans range from $2,000 to $35,000 with APRs from 9.95% to 35.99% for debt consolidation and major expenses. They only check TransUnion.

• Best Egg – Best Egg offers personal loans up to $35,000 with fixed rates from 5.99% to 29.99% APR. Their application only involves a soft TransUnion pull.

In addition to these lenders, some credit unions and smaller banks may only pull TransUnion as well. It’s always smart to verify with each lender their specific credit check policies before applying.

How to Check If TransUnion Shows Your Best Scores

Before applying for loans, make sure TransUnion does in fact show your highest credit scores. Here are some tips:

• Obtain your free annual credit reports from TransUnion, Experian, and Equifax at AnnualCreditReport.com. Compare the information and accounts reported.

• Check your credit scores with TransUnion specifically using their free credit score tool.

• Sign up for a free trial membership on MyFICO.com which provides your FICO scores from all three bureaus so you can compare.

• Use other score monitoring sites like Credit Karma to view your TransUnion scores over time.

• Identify any discrepancies on your TransUnion report and dispute errors to potentially improve your scores.

If TransUnion does show your highest scores, then applying with their-only lenders above can be advantageous. But if another bureau is better or they are very close, you may want to widen your options.

Tips for Getting Approved with TransUnion-Only Lenders

Once you’ve confirmed TransUnion provides your best shot at loan approval, here are some tips to boost your odds with lenders pulling their reports:

• Pay down balances – Lower credit utilization reported to TransUnion specifically can help increase those scores.

• Check account status – Make sure all TransUnion-reported accounts show as current with no late payments. Resolve any issues.

• Limit hard inquiries – Too many recent hard inquiries on your TransUnion credit file could negatively impact loan approval odds. Minimize other credit applications.

• Review full history – Check that your entire credit history, especially positive records, are showing accurately on your TransUnion report. Dispute any omissions.

• Meet minimum criteria – Many lenders have a minimum credit score threshold, typically 640+ for personal loans. If your TransUnion scores are too low, boosting them could be required first.

• Provide supporting docs – With good TransUnion scores, also submit income/employment details, account statements, and other documents to substantiate your loan application.

Being strategic with your credit profiles and choosing lenders that align with your strongest report can pay off with better loan rates and terms. Just be sure to compare multiple offers carefully before committing, and maintain responsible credit practices going forward. Monitoring your TransUnion credit should be part of the process.