Skip to main content
All CollectionsPrivacy and Security
Why do you need my Social Security Number?
Why do you need my Social Security Number?
Team Boom avatar
Written by Team Boom
Updated over a week ago

As required by the major credit bureaus, your Social Security number is used for three purposes:

  • Verify your identity when signing up

  • Report your rent payment history to the credit bureaus

  • Display your monthly credit score

When you open an account, we’ll ask you for your name, address, date of birth, and other personal information that allows us to identify you. We may also ask to see your driver’s license or other identifying documents if we need additional identity verification. Sensitive user data is stored with our verification partners such as Plaid and Stripe, which are backed by bank-grade, highly-encrypted services. Our verification partners perform similar services for trusted brands such as Paypal, Robinhood, Coinbase, Venmo, Acorns, Chime and more.

In addition, we are obligated to follow United States government regulations such as the PATRIOT Act, which requires all financial institutions and affiliated third parties to obtain, verify, and record information that identifies each person who opens an account.

Did this answer your question?