You need a credit score of 640 or higher to get the Prosper® Card. That means people with at least fair credit have a shot at getting approved for this card.
Other Prosper® Card Approval Requirements
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Prosper® Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status, and housing status.
Since all these criteria are taken into consideration, you might be able to get approved with a slightly lower credit score. But it’s best to wait and apply after you meet the Prosper® Card credit score requirement. You can check yourcredit score for free, right hereon WalletHub.
This answer was first published on 04/05/22 and it was last updated on 01/09/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Borrowers who accept a personal loan through Prosper must have a credit score of 640 or higher to qualify for a loan.
What is the Prosper credit card limit? ›
Your initial credit limit with the Prosper® Card will be between $500 and $3,000, depending on what you qualify for. Prosper will evaluate your account every three months to determine if you are eligible for a credit limit increase.
Is Prosper a good credit card company? ›
With no rewards or major benefits beyond educational resources and built-in fraud protection, the Prosper® Card* doesn't offer much. The card advertises that there are no cash advance fees, but cash advance APRs are high, and, as with other cards, there's no grace period on cash advance interest.
What are the requirements for a loan from Prosper? ›
Prosper requirements
| Minimum credit score | 560 |
|---|
| Residency requirements | Must be a U.S. citizen AND Loans not available in Iowa or West Virginia |
| Required documents | Must have Social Security number Must have verifiable bank account |
You need a credit score of 640 or higher to get the Prosper® Card.
Does Prosper approve bad credit? ›
We welcome applicants with less-than-perfect credit. Plus, checking to see whether you qualify for a Prosper® Card won't affect your credit score. So really, you've got nothing to lose.
What bank issues Prosper credit cards? ›
The Prosper® Credit Card is an unsecured credit card issued by Coastal Community Bank, Member FDIC, pursuant to license by MasterCard® International. Average credit card rates as of 12/12/2022 from WalletHub.
Does Prosper pull credit? ›
After a borrower submits a loan application, Prosper first obtains a credit report from TransUnion to evaluate whether the applicant meets the underwriting criteria Prosper has established in conjunction with WebBank.
How to get a 3000 credit limit? ›
The only way to get a $3,000 limit with bad credit is to place a $3,000 security deposit on a secured credit card. Generally, a secured card's credit limit matches the amount of the refundable security placed by the cardholder. Not all secured credit cards allow deposits as high as $3,000.
How does Prosper verify income? ›
To verify a borrower's income, we will request documents such as recent paystubs, tax returns, or bank statements. To verify a borrower's employment, we may contact the borrower's employer or use other databases. In some cases, we may delay investor funding of a loan to verify the information provided by a borrower.
The Prosper Card charges an annual fee of $39 (waived for the first year if signed up for AutoPay before the first statement). The issuer automatically looks at your account activity every three months to see if you're eligible for a credit line increase.
Is Prosper or upstart better? ›
Prosper lets you borrow any amount from $2,000 to $50,000. Upstart scores over Prosper when it comes to both minimum and maximum amounts you can borrow. By offering a lower minimum and higher maximum, those looking for smaller or larger loans than average can get the funding they need through Upstart.
What are the requirements for Prosper credit card? ›
Prosper® Card Requirements
- At least 18 years old.
- Physical U.S. address (no P.O. boxes)
- Proof of enough income to make the monthly minimum payment.
- Social Security number.
- Fair credit or better.
- Checking or savings account.
The Prosper loan timeline includes around one to five business days to get approved for a Prosper loan and another one to three business days to receive the funds after approval. Fill out the application carefully. You should make sure...
What is the minimum payment for Prosper card? ›
The Prosper® Card minimum payment is $30 or 1% of the statement balance, plus fees, past-due amounts, and interest – whichever is higher. If the statement balance is less than $30, the Prosper® Card minimum payment will be equal to the balance.
What bank issues the Prosper credit card? ›
The Prosper Card is an unsecured credit card issued by Coastal Community Bank, Member FDIC, pursuant to license by Mastercard International. The Prosper Card is serviced by Prosper Marketplace, Inc., or an affiliate ("Prosper").
Does Prosper always verify income? ›
Does Prosper verify income for personal loan applications? Yes, Prosper will verify your income when you apply for a personal loan. If you do not have any income, you can apply for a Prosper personal loan with a co-signer, and Prosper will verify that person's income instead.
Which credit bureau does Prosper pull from? ›
After a borrower submits a loan application, Prosper first obtains a credit report from TransUnion to evaluate whether the applicant meets the underwriting criteria Prosper has established in conjunction with WebBank.
What credit card can I get with a 636 score? ›
Popular Credit Cards for a 636 Credit Score
- Best Overall: Discover it® Secured Credit Card.
- No Credit Check: OpenSky® Secured Visa® Credit Card.
- Unsecured: Credit One Bank® Platinum Visa® for Rebuilding Credit.
- Rates & FeesRewards & No Annual Fee: Capital One Quicksilver Secured Cash Rewards Credit Card.
