How Evolve Considers You for a DYPER Credit Card

Evolve Bank & Trust (“Evolve”) uses your credit score, information from your credit report, and other information you provide to DYPER when considering whether to issue you a DYPER Credit Card. These FAQs discuss some considerations that Evolve uses to make credit decisions, but the FAQs do not include all the details Evolve uses to make credit decisions.

Evolve and DYPER encourage you to see if you qualify for, and apply for, the DYPER Credit Card. When you request to see if you qualify for a DYPER Credit Card, you authorize Evolve to order an inquiry on your credit history. The credit inquiry that Evolve uses to see if you qualify for credit is known as a soft inquiry and has no impact to your credit score. If you accept the invitation to apply for the credit card offered, you authorize Evolve to make a subsequent inquiry of your credit report. This subsequent credit inquiry, known as a hard inquiry, may impact your credit score. If you decide not to accept the invitation to apply for the DYPER Credit Card, Evolve will not use a hard inquiry credit report and it will not affect your credit score. If you have a freeze on your credit report, you will need to temporarily lift the freeze before Evolve can review your credit report. You can contact the credit reporting agency to lift the freeze to allow Evolve to order your credit report.

If Evolve determines from the credit report information that you do not qualify for an offer of credit, Evolve will send you an adverse action notice required by law. The adverse action notice will explain that Evolve used a credit report and credit score to make the credit decision, the top factors it considered in the decision, the name of the credit reporting agency Evolve used, and the top reasons that affected your credit score. Evolve provides this information so that you can know how to improve your credit score. Evolve also will send you an adverse action notice if it is unable to verify your identity.

Requirements to get a DYPER Credit Card

To get a DYPER Credit Card, you must:

  • Be 18 years or older
  • Authenticate yourself during the prequalification process
  • Pass identity verification and have a valid SSN or ITIN
  • Provide Evolve with a U.S. address (Military post addresses are acceptable. Regular P.O. Box addresses are not acceptable)

You may need to verify your identity with a government-issued photo ID

Credit Report Information Considerations

  • The credit report is not frozen
  • Whether you paid your past and current debt obligations on time, including lease and rental payments
  • Whether any debt obligations are or were in collection
  • Whether any debt was charged-off
  • Whether a creditor closed your credit account
  • Whether there is derogatory information in the public records
  • Whether any creditor or taxing authority placed a lien on any real property you own
  • Whether you filed for bankruptcy protection in the last 7 years
  • Whether any of your property has been recently repossessed
  • Whether you have sufficient income to repay your debts and whether your debt obligations are a high percentage of your monthly income
  • Whether you fully used your credit card loans and other available credit
  • Whether you recently opened a significant amount of new credit
  • How often you apply for credit
  • Your credit score

Each year, you are entitled to obtain a free copy of your credit report. You can order a copy of the free report here.

Credit Score Considerations

Credit scores can indicate how you use and pay off debt. Evolve uses credit scores assigned by Vantage Score was developed by the three major credit rating agencies—Equifax, Experian, and TransUnion. Neither Evolve nor DYPER prepares the credit report or credit score. Other firms provide credit scores that may be different or similar to the Vantage credit score but Evolve does not use these scores when making credit decisions on the DYPER card program.

Anti-Discrimination Statement

When considering persons for the DYPER Credit Card, Evolve and DYPER do not discriminate on the basis of race, color, national origin, disability, age (assuming person has the capacity to contract), marital status, sex, religion, gender identity, whether any part of the person’s income is derived from public assistance, or whether the person exercised, in good faith, any rights under the Consumer Credit Protection Act.