While payday lenders frequently advertise 'no traditional credit check,' they utilize specialty credit reporting agencies to verify income stability and banking history.
1. Specialty Subprime Credit Reporting Agencies
| Agency Name | Parent Company | Data Tracked | Impact on Approval |
|---|---|---|---|
| Clarity Services | Experian | Small-dollar loan history, open advances | Primary underwriting screen for online lenders |
| Teletrack | CoreLogic / Equifax | Payday defaults, installment loan inquiries | Checks for outstanding defaults in other states |
| FactorTrust | TransUnion | Underbanked transaction records, check cashing | Evaluates alternative credit scoring models |
| Plaid / Finicity | Independent Data Aggregators | 90-day direct deposit history & NSF occurrences | Verifies real-time income and account liquidity |