Protecting our users' privacy and security has always been – and will always be – our top priority.
Why Does Prosper Daily Need My Card Login Information?
To display your account details and to provide fraud protection and unfair charge alerts in the app, Prosper Daily needs to view the transactions on your financial statements. When you register a financial account for Prosper Daily tracking and protection, we encrypt your login credentials and, with the help of Yodlee, establish a secure connection with your card issuer.
Once your credentials are confirmed, Prosper Daily is granted "read-only" access to your transaction history. This means that Prosper Daily can see descriptions and amounts for your purchases, statement cycle information, and the APR (the interest rate) for your credit cards. We cannot move money into or out of your accounts, nor can we change any aspect of your accounts.
What is "Read-Only" Access?
By connecting to Prosper Daily, you're granting us permission to view your card activity through something called "read-only" access. Put another way, you're allowing us to "look," but not "touch." We cannot change your personal information in any way, and we certainly can't move money around. It's as if we were looking at your card statement through a plexiglass box. We can see it, and that's it.
What Information Can Prosper Daily See?
We are only able to see a very limited amount of information for each transaction on your card. Specifically, we can see:
- The same charge description that you see on your bill (e.g., "AMAZON.COM AMZN.COM/BI")
- The amount charged (e.g., $5.00)
- The charge date (e.g., 12/29/2011)
- A category for the charge, as assigned by Yodlee (e.g., "Restaurants")
At the account level, we are able to see your card type (e.g. "Chase Sapphire Premier Credit Card"), statement cycle information and APRs.
Can My Prosper Daily Password Be Used to Access My Bank Account or Make Transactions on My Cards?
No. Prosper Daily relies on strict read-only access to your card statement. It cannot be used to make transactions or alter your card account in any way. Your username and passwords are encrypted when entered and never displayed again.