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Social Score: Score more, get more!

Know how to improve your social behaviour for getting a loan

Upwards Social Score

Having good social score is important when applying for a loan with Upwards. If you are new to credit or have a low credit score, then it is significant you know about this unconventional credit rating system that can have a huge impact on your loan application. The score is generated on a real-time basis and enables you to let you know the status of your application instantly!

What is social score?

As the name suggests, social score is a score generated by determining an individual’s social behaviour. Traditional banks and NBFCs usually consider credit score to measure a loan seeker’s repayment capability. However, with digital advancement, we at Upwards leverage the power of big data and artificial intelligence to determine an individual’s loan eligibility..

Unlike conventional lenders, we at Upwards rely heavily on an individual’s social activity on platforms such as Facebook, Twitter, LinkedIn and others to determine his creditworthiness. Additionally, an individual’s mobile number, education, financial history is also considered when calculating the score.

How is social score determined?

The social score is determined based on the following

  • Verification through social media is done based on the details provided by you.
  • Quality of connections that you make on social media is checked
  • Your Facebook, Twitter, LinkedIn profile is analysed to check your personality
  • Profile of your friends or connections is also checked to check how stable and responsible they are in terms of their credit profile and work history
  • Verification of employee history is done through LinkedIn

How can you increase your social score?

  • Have a high number of friends and followers on social media
  • Update your social media profiles with correct information related to your name, job, location
  • Do not make too many loan applications at once
  • Refer and earn your friends for a loan
  • Connect with both personal and professional friends on social media

How can you increase your social score?

  • Have a high number of friends and followers on social media
  • Update your social media profiles with correct information related to your name, job, location
  • Do not make too many loan applications at once
  • Refer and earn your friends for a loan
  • Connect with both personal and professional friends on social media

Are you new to credit?

If you have never availed a loan before and are new to credit, then your social score can help you get a loan. Individuals who are new to credit can increase their social score by referring more friend to get a loan.

Loan rejected?

In case your loan application has been rejected due to a low credit score, then you can increase your social score instead to avail a loan. Refer and earn more friends to get started. The social score is never constant and increases as and when you start updating your social media profile and referring more friends.