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Frequently Asked Questions

What is CreditSMS? 

CreditSMS is a platform that aggregates various financial services, making it easy and quick for users in the Philippines to find the best loan offers. Our service is user-friendly, understandable, and accessible at any time. 

How does CreditSMS affect my credit score when I apply for a loan through their platform? 

CreditSMS acts as a comparison service and does not directly affect your credit score. However, when applying for loans through CreditSMS, lenders may conduct a credit check, which could temporarily impact your credit score. 

What should I consider when choosing a loan? 

Compare interest rates, repayment terms, and borrower requirements before signing any agreement. It is crucial to assess these factors to find a loan that best suits your needs. 

How long does it take to get a loan approved? 

The timeframe for loan approval may range from a few minutes to one business day, but you can find the exact timing on the lender’s website. 

What requirements do borrowers need to meet? 

To obtain a loan, you must have: 

  • a bank account with a registered bank in the Philippines, 
  • Filipino citizenship, 
  • be at least 18 years old, 
  • a valid mobile phone number, 
  • an email address. 

How do I know if my loan will be approved or rejected? 

You will receive a response via SMS to your phone or an email following your application. 

Is a guarantor or collateral needed to get a loan? 

No, you can secure a loan without a guarantor or collateral. 

Can the repayment date be changed if unexpected payment difficulties arise? 

Contact the lender if you encounter difficulties in repaying the loan to discuss the possibility of extending the repayment period. 

Why can a lender deny a loan? 

Reasons for loan denial may include incorrect information in the application, delayed payments, age not meeting the lender's requirements, multiple active loans, among others. 

How do I contact CreditSMS? 

For questions about CreditSMS's service, please use our contact form.