Underwriting
Why is my personal information required to submit an application?
Personal information is required due to FINCEN and card brand rules.
Which credit reports are used? Hard or soft pull?
We do not use traditional credit bureaus. Our Underwriting team leverages LexisNexis to validate PII. There is no hard or soft pull to the applicants credit.
What format does my documentation need to be in to submit to underwriting?
You will receive an email with a hyperlink to upload documents requested from Versapay underwriting. PDF is preferred, but other formats are acceptable. Ensure the documentation is not password protected. PNG and JPEG files are also acceptable.
If my application is denied, do I have any other options?
Depending on the reason for denial, there may be additional processing options available.
Who do I contact if I have questions or concerns while my application is in underwriting?
Contact NetSuite support for any questions regarding the status of the application during underwriting.