A credit check confirms an applicant's credit history as part of your Payscore screening. Once a household passes your income criteria, Payscore orders a credit check for each applicant. The applicant completes a short form, Payscore retrieves their credit file from the credit bureau, and checks it against the credit criteria you set.
You receive a separate Credit Report for each applicant alongside the household's Income Report.
How it works
Your applicants complete income verification. Nothing changes when you add an applicant group. The household completes income verification as usual, and the Income Report is generated.
Payscore orders the credit check automatically. If the household's income result is Pass, Payscore orders a credit check for every applicant in the group and emails each one an invitation. If the income result is Conditional or Fail, no credit check is ordered and the screening completes as it does today.
The applicant completes a short form. The invitation has a Complete Credit Check button that opens a secure form. The applicant confirms their identity, agrees to the credit check, and submits. It takes a few minutes. The invitation is valid for two weeks.
Payscore pulls the credit file. The applicant's credit file is retrieved from the credit bureau, usually within minutes of the applicant submitting the form.
You get the report. Payscore checks the credit file against your criteria, creates the Credit Report, and emails you. The applicant group stays In Progress until every applicant's credit check is finished.
No action is required from you. Credit checks are ordered and completed automatically.
Where to find the report
When a credit check finishes, you receive an email with the subject "[Applicant name] has completed their credit check" and a View Completed Report button.
The report also appears in the Completed Reports section for that applicant as "[Applicant name]'s Credit Report", with a button to download it.
While the credit check is in progress, the applicant's Credit Verification row shows its status. The Activity log shows when the invitation was sent and when the applicant submitted the form.
If you use Yardi, Entrata, RealPage, or ResMan, the Credit Report PDF is also uploaded to the applicant's record in your property management system, the same way Income Reports are.
What the results mean
The top of the report shows one overall result, based on the credit criteria your organization set with Payscore.
Result | What it means |
Pass | The applicant meets all of your credit criteria. |
Conditional | The applicant does not meet all of your criteria but meets the conditions you set for a conditional result. The report names the criterion that was missed. You decide what a conditional result means for your process, such as a higher deposit or a guarantor. |
Fail | The applicant does not meet one or more of your credit criteria. The report names the criterion that was missed. |
Unable to Evaluate | The credit bureau returned no credit file, or a file with no usable score, so your criteria could not be checked. This happens when an applicant has little or no credit history, has frozen their credit file, or could not be matched. It does not mean the applicant has bad credit. |
The result is a comparison against your criteria, not a recommendation. Payscore does not approve or deny applicants. You make the leasing decision.
What's in the report
The overall result and the reason for it
Each of your credit criteria, with your requirement and the applicant's result
The applicant's credit score
The name, date of birth, and addresses on the credit file
Totals for credit balance, credit limit, credit used, monthly payments, on-time payments, and collections
Items requiring attention: collections, bankruptcies, and delinquent accounts
Bureau alerts and fraud alerts, when there are any
The full list of accounts from the credit bureau
A Fair Credit Reporting Act (FCRA) notice describing your obligations before taking adverse action
Your responsibilities
The Credit Report is a consumer report under the Fair Credit Reporting Act. Payscore prepares the report against your criteria. You make the decision.
If the Credit Report is any part of your reason to decline an applicant, or to approve them on different terms, you must give them a copy of the report and the required adverse action notices. Payscore does not send these notices for you.
If an applicant believes something in their credit file is wrong, they can dispute it with Certn, the consumer reporting agency that prepared the file, at [email protected]. Certn handles disputes directly with the applicant and the credit bureau.
Frequently asked questions
Do I need to request the credit check?
No. Payscore orders it automatically for every applicant once the household's income result is Pass. There is nothing to select when you add the applicant group.
Why wasn't a credit check ordered for this household?
Credit checks are only ordered when the household's income result is Pass. If the income result was Conditional or Fail, no credit check is ordered.
Does the credit check affect the applicant's credit score?
No. Tenant screening inquiries do not affect credit scores.
How long does the applicant have to complete it?
Two weeks from the invitation email. After that, the invitation expires and the credit check closes without a report. Your other reports are not affected.
The applicant didn't get the email. Can I resend it?
Not from the Admin Portal yet. Ask the applicant to check their spam folder for an email from [email protected]. If they still can't find it, reach out to our support team.
How do I change my credit criteria?
Reach out to our support team. Changes apply to credit checks completed after the change. Reports already generated keep the criteria in place at the time.
Can I edit the details on the report?
No. The report reflects the credit bureau's file. If an applicant disputes something on it, see Your responsibilities above.
Is this a background check?
No. This is a credit check only. It does not include criminal history or eviction records.