Self is a new way to build credit that’s safe and secure. 35%o your score depends on your payment history, and with Self’s Builder Account program, you can establish your history and create credit while building savings. It’s a credit builder loan that helps you develop a payment history. You can pay loan the each month on-time, the moment the principal is paid off, the account unlocks so that you can access your money again minus fees and interest.
To begin, you’ll can apply through Self’s website or mobile app. The moment you are approved, you can being to pay off your account for a specified amount of time. Self offers four different plans ranging from 12 to 24 months long, so you can choose the term and dollar amount that best fits your budget and goals.
From there, just pay early each month to build your payment history. Your monthly payments are reported to all three credit bureaus, so you can watch as your credit grows over time. Once you’ve finally paid the account off, you’ll have access to all of your funds again, minus fees and interest.
Self offers an easy solution that allows you to save money for the future while providing credit bureaus a payment history to build your credit.