We wish we could guarantee an increase to your credit score for using Fig. We are designed to help your credit, however, whether or not your credit score increases after your Fig loan depends on a variety of factors.
Repayment history (as reported to the three main credit bureaus) is one of the many factors that helps determine your credit score. Fig reports all of loan payments to the three major credit bureaus to help build positive repayment history. Unfortunately, we cannot predict exactly how Fig will affect your credit score, because the credit bureaus themselves do not explain exactly how credit scores are calculated.
It's normal to see a slight decrease in your credit score right after opening the loan and right after paying it off, but most of our customers find that this is temporary.
If you see something completely unexpected and dramatic happen to your credit score after a Fig Loan, please reach out to us or file a dispute with the credit bureaus. We'll always consider the complaints seriously and do our best to correct any errors!