BorrowEase provides a platform where you can easily compare financial products from various providers side by side. We are not a lender, bank, or credit card issuer. Instead, we collaborate with top financial service providers to offer a range of competitive options, helping you select the financial product that best suits your needs. Comparing rates on BorrowEase is entirely free and does not impact your credit score.
Since BorrowEase offers prequalified rates, the easiest way to find out what terms you might qualify for is by filling out our quick prequalification form. You’ll immediately see if you prequalify with any of our partner lenders. There’s no commitment or risk involved, and you can securely compare prequalified rates all in one convenient place.
Your data is secured with Transport Layer Security (TLS), the same encryption technology trusted by leading banks and financial institutions. We do not share your personal information without your explicit consent.
Checking rates will not impact your credit score. We use a soft credit inquiry to display personalized prequalified loan rates, and this type of inquiry does not affect your score.
However, if you decide to move forward with a loan and complete an application with a lender through your Dashboard, a hard credit inquiry will be conducted, which may affect your score. The same process applies when applying for a credit card, as the issuer will perform a hard credit check.
During the prequalification process, we perform a soft credit inquiry, which does not impact your credit score.
If you decide to move forward with a specific lender from your Dashboard, you authorize that lender to conduct a hard credit inquiry to evaluate your creditworthiness. A hard inquiry can typically lower your credit score by up to 5 points.
FICO, the leading credit score provider, treats multiple inquiries for the same type of financial product within a certain period (usually 30 days or less) as a single inquiry. This practice, known as "rate shopping," ensures that if you apply for loans from multiple lenders within 30 days, it is generally counted as one inquiry.
FICO provides more details in their guide, "How do FICO scores consider student loan shopping," under Credit Basics – Credit Checks & Inquiries.
This website is not a bank, lender, or financial institution. It serves as an intermediary, linking clients looking for loans with licensed financial institutions. The website does not take responsibility for any loan agreements and does not charge a service fee. It is not accountable for the actions, omissions, or interest rates of any lender. You are not obligated to use the service, initiate contact, or apply for credit with any lender you are connected to through the site.
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