How to apply for a loan?
To apply for the opening of a Grain account and virtual credit card activation, the user needs to do these steps:
Install the Grain mobile app;
Select the bank where they have a checking account;
Link a bank account to a Grain account using the Plaid tool;
Enter your name, email, phone number, and SSN;
Fill in the home address, state, and zip code;
Enter information about employment and monthly income;
Select the credit option and click "Submit".
Requirements
Grain has no requirements for credit scores as it does not conduct credit checks. To be eligible to open an account and get a virtual credit card in the Grain mobile application, the borrower must:
Be 18 years old
Have an active checking account
Have a stable source of income
Have a certain level of cash flow in the bank account. Grain does not specify which level is required.
Application details
Grain may require the borrower to upload these documents to confirm their identity:
Driver's License
State-issued ID
Social Security card.
Grain uses 256-bit encryption so that customers' data cannot be accessed by third parties. The possibility of getting a refusal from Grain is low. If the cash flow level is insufficient, the user receives an offer to issue a secured credit line.
