At Mogo, we work hard to make our products and services as accessible as possible. We have a robust credit approval process in place to ensure that our members are approved for credit products that are appropriate for their unique financial situation.
If you’ve never had a credit product with us before, we might look at things like your credit score and credit history to make sure that on a high level, everything checks out and give you a pre-approval offer accordingly. If you’ve borrowed from Mogo before, we’ll also take a look at your history with us.
Having a pre-approval offer means that, based on the information we have, you’ve passed most of the requirements needed to get that loan—not that the loan is guaranteed! Before we can give you a final approval, we have to do a more thorough check. This typically consists of verifying your personal info (like your identity and your income information) to ensure that you meet our requirements.