No.

Our bank partners do not perform a “hard” inquiry on your credit report. However, you may notice a “soft” credit inquiry from Self Lender, which is to verify your identity and give you free credit monitoring. “Soft” credit inquiries are only informational, and will not affect your credit score.

Instead, our bank partner uses ChexSystems, a database of past retail banking history, to determine your eligibility for the credit builder account. ChexSystems is a nationwide specialty consumer reporting agency under the federal Fair Credit Reporting Act (FCRA) that collects information on consumers' checking and savings accounts. If you would like to learn more about your ChexSystems report. Visit www.ChexSystems.com.