What are Trust Credits (TCR)
These are points awarded to members for various actions on the Socin platform. These points are displayed on the loan requests to help lenders make better decisions about giving loans.
How to Earn Credits
Credits are awarded as acknowledgement that you have done something positive on our website. For instance, verifying your identity will earn you 20 credits. Actually, if you do it within 72 hours after registration, you will earn 50 credits – 30 extra credits! You will get notifications when your TCR balance grows.
You can Lose Credits
Yeah, when you do something that is deemed negative, you will lose credits. For instance, if you are late paying a loan installment, some TCR will be deducted from your balance.
There are 6 levels in the TCR journey.
Once you reach the 3rd level, you will be classified as a trustee borrower. Lenders are required to assign at least 50% of their insured loans to trustee borrowers. So there is a huge benefit of having a huge TCR balance.
To earn the maximum points, read every article, every FAQ and all the terms of service. You must also participate in the affiliate program.
Typical Ways to Earn/Lose TCR
|Action||Credits Earned||Credits Lost|
|Logging in (per day) [Regular]||1 TCR (max 3 per week)||0 TCR|
|Immediate Identity verification (72 hours)[Once]||50 TCR||0 TCR|
|Late identity verification [Once]||20 TCR||0 TCR|
|Wrong identity verification [Regular]||0 TCR||10 TCR|
|Spamming lenders without a live request [Regular]||0 TCR||5 TCR|
|Buying insurance [Once]||100 TCR||0 TCR|
|Buying insurance immediately after signup [Once]||150 TCR||0 TCR|
|Posting a loan request (max 10 per week) [Regular]||10TCR||0 TCR|
|Posting a quality loan request (additional) [Regular]||10 TCR||0 TCR|
|Posting poor loan request (deleted) [Regular]||0 TCR||5 TCR|
|posting more than 1 live loan request [Regular]||0 TCR||5 TCR|
|selecting premium features without paying [Regular]||0 TCR||10 TCR|
|Paying Loan installment on time [Regular]||10 TCR||0 TCR|
|Clearing an entire loan on time [Regular]||100 TCR||0 TCR|
|Clearing loan late [Regular]||50 TCR||0 TCR|
|Paying Loan installment late [Regular]||0 TCR||5 TCR|
|Defaulting on loan (if insurance kicks in) [Regular]||0 TCR||500 TCR|
|Earning a new affiliate rank [Regular]||50TCR||0 TCR|
The list will be updated from time to time (when new ways to earn credits are added or when we change the number that can be earned)