How to apply for a loan?
Requirements
All possible Bread clients are asked to provide basic information during the pre-qualification stage in order to qualify for any loans. That entails providing your full name, e-mail, phone number, address, and some other data. The former Alliance Data doesn't provide open information regarding the requirements, but it can be expected that you have to be at least 18 years of age and have a good credit history. It needs to be mentioned that Bread Financial does not perform a hard credit check, so your overall score won't change.
Application details
Since Bread Financial provides its clients and partners with loans that are repaid in installments, your chances of approval are very high. Not only that, but the process itself doesn't take too much time: the former Alliance Data approves most loans in less than 24 hours. After that, you'll have to select what kind of loan you want to get approved. Of course, the approval is not always guaranteed and there are several reasons why it's not received. The most common ones include:
- Your credit score wasn't high enough,
- You requested too many loans,
- Your DTI was too high,
- You asked for too much money,
- Your income resources weren't sufficient or stable,
- Some data you provided was not valid, insufficient, or not relevant.
