When you run a credit check on a payer, Simplifeye's system will check for the following minimum fixed requirements to ensure qualified applications and risk mitigation:

  • 640 minimum credit score

  • No more than 6 hard credit inquiries over the last 6 months

  • No more than 1 missed payment over the last 6 months

  • No more than 2 missed payment over the last 12 months

  • No more than 4 missed payment over the last 24 months

  • At least 2 credit open accounts

  • No bankruptcies over the last 3 years

  • No credit accounts currently in delinquency

Any payer who does not meet these base requirements will fail a credit check in our system.

However, you are also to add additional custom requirements if you so choose. You can raise the minimum credit score required to pass, lower the number of hard inquiries allowed, as well as check for a certain limit of active credit utilization across accounts.

To do so, follow these steps:

  1. Navigate to the “Admin” button in the top right corner of your screen.

  2. Select “Credit Scoring” under the Payments section.

  3. Here you can use the slider to set your “Credit Criteria”

  4. You can also select “Optional Credit Criteria” if needed.

  5. When all the changes are made, you can select “Save Updates” at the bottom of the page.

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