Can I still apply for a loan if I have a bad credit record or if I’ve been blacklisted?

As a standard practice, loan providers check an applicant’s banking and credit history. This provides them with the information they need to base their decision on whether to offer you a loan or not. Your credit score also helps the loan provider determine the terms and interest rates linked to your loan. So if you have a poor credit score, you’ll most likely be offered a loan with stricter terms and a higher interest rate or you may not qualify for a loan offer at all. If you’ve been blacklisted you won’t be eligible for loan.

Spot isn’t a loan provider, but we’ve partnered with leading financial service providers to serve you up loan offers based on your credit score. We also make it super easy for you to check your credit score.

To check your credit score:

1. Sign-in to your Spot app.
2. Tap the hamburger menu at the bottom right of your screen (it's those three little lines).
3. Hit My Credit Score and ta-da, you'll see your score.

In the event that you don’t meet the criteria to receive a loan, you might be able to take up debt-counselling services from one of our debt management partners. They’ll provide you with a detailed assessment to help you understand your financial situation.

To check out your financial offers simply: 

1. Sign-in to your Spot app.
2. Tap the shopping cart icon at the bottom of your screen.