[3-28-2025 - Middletown, NY] – CreditCardBroker.com, a leading affiliate network specializing…
Credit Builder Loans And Accounts
Today’s blog will give you a better idea as to what a credit builder loan is and how this account can help you build positive credit history.
A Credit Builder Account / Loan is a product that people usually seek out if they have no credit or bad credit and have now learned their lesson. Credit Matters! A typical credit building account is set up as a secured loan that is usually held in a secure CD or savings account with the bank. In most cases you don’t actually get a loan, but there are products our there that are willing to give you a partial loan so you can actually get some cash too. But the main goal is for you to make payments on this loan, on time, and then when the loan is paid off in full, you can then have access to that money later! Again, the main goal is to build positive credit history! But a credit builder loan has that nice bonus at the end, Cash!
To become a partner with CreditCardBroker.com and market our products CLICK HERE. or call 973-220-5801 or email partners@creditcardbroker.com
When comparing Credit building accounts be sure to look at various factors such as any application fees and other fees, terms and conditions, lengths of the loans, and more.
Most products will give you options as far as how long the program will work, usually between 6 months and a few years. Also be sure the program reports to all 3 credit bureaus so you can build credit on record.
It’s always good to be aware of the interested rates, because you are paying interest when you make payments, so be sure to shop around and find the best rate!
Application fees and other fees typical come with any type of credit building account, so be sure to be aware of all of those.
CreditCardBroker.com offers several credit builder accounts that you can choose from. You can either apply for one below OR if you interested in earning some extra income, you can join our affiliate program and start marketing these accounts to your clients or website visitors.
We offer brands such as Self, Credit Strong, Grow Credit, Kickoff, Seed, and Kovo. In the offer detail sections you will see features such as: no credit pull, no credit history required, no impact on your score, installment loan and credit line formats, subscription reporting features, and more. Please note that each offer has its own unique fees, details, and characteristics.
You can see all the details of all these offers below.
To become a partner with CreditCardBroker.com and market our products CLICK HERE. or call 973-220-5801 or email partners@creditcardbroker.com
If you are a customer and looking to apply for a credit builder account then see all our offers below:
Offer
Credit Type
More Details
Apply
Credit Strong - Instal & Revolv
Fair Credit, Bad Credit, No Credit
Credit Strong - Instal & Revolv
CREDIT NEEDED
Fair CreditBad Credit
No Credit
Multiple Ways to Build Credit.
A CreditStrong account is the fusion of a secured consumer installment loan and a savings account. During the life of your CreditStrong account you build both credit history and savings.
- Instantly build revolving credit with no minimum monthly payment required with CreditStrong Revolv
- Build installment credit and savings with low fixed monthly payments with CreditStrong Instal
- Build supersized installment credit with supersized plans with CS MAX
Kovo Credit Builder
Fair Credit, Bad Credit, No Credit
Kovo Credit Builder
CREDIT NEEDED
Fair CreditBad Credit
No Credit
Give yourself the credit you deserve. Sign up to build your credit easily with small monthly payments. Instant approval, no credit check, and no hidden fees. Plus, earn up to 1% on featured loans! The ideal alternative to secured credit cards.
Incredible value:
- Your payment performance is reported monthly to TransUnion®, Equifax®, Experian®, and Innovis®.
- Earn up to $1,225 in rewards. That’s 5x more value than the cost of Kovo.
- Lower your monthly interest payments when you have a higher credit score.
- Better credit makes owning a car and home possible, with higher odds for approval.
- Get your FICO® Score and see your credit score journey progress every month.
How it works:
- Build with Installments: pay $10/month over 24 months.
- Learn with Courses: pick up useful skills.
- Earn with Rewards: up to 1% back on eligible loan offers.
Key features:
- Flat monthly rate
- Instant approval
- No credit check / no hard pull
- No bank account needed
- $0 security deposit
- $0 setup/admin fees
- $0 annual fees
- $0 late fees
- $0 prepayment fees
- 0% APR
Requirements:
- You must be at least 18 years of age
- You must have a valid U.S. Social Security Number
Available in all 50 states.
Magnum - A Credit Strong Product
Fair Credit, Good Credit, Excellent Credit, Bad Credit, No Credit
Magnum - A Credit Strong Product
CREDIT NEEDED
Fair CreditGood Credit
Excellent Credit
Bad Credit
No Credit
MAGNUM is the largest credit builder in the nation, allowing you to build $2,000 to $30,000 of installment credit with an average 86-point FICO score increase. We’re for when you have cash, but not credit.
Build substantial payment history on a large cash-secured bank loan at a low monthly payment while we report to the 3 credit bureaus.
- 86-Point Average FICO® Score Increase
- Build $2,000 to $30,000 of credit starting at just $30/mo
- The largest and longest credit builder accounts in the nation with 10-year terms and no prepayment or cancellation fees
- MAGNUM helps you build a large amount of credit with low monthly payments
- Not everyone needs MAGNUM-sized accounts, but they may be right for you, if you want to unlock higher credit limit credit cards, access higher-value personal loans and maximize your potential credit score increase
*Individual results may vary, terms and conditions may apply
Credit Strong is a Division of Austin Capital Bank© 2024 Member FDIC.
Sample loans: $28/mo, 48 mos, $15 admin fee, 15.61% APR; $38/mo, 24 mos, $15 admin fee, 15.73% APR; $48/mo, 24 mos, $15 admin fee, 15.51% APR; $49/mo, 60 mos, $25 admin fee, 6.99% APR; $99/mo, 60 mos, $99 admin fee, 7.21% APR; $199/mo, 60 mos, $25 admin fee, 7.31% APR; $30/mo, 120 mos, $25 admin fee, 7.86% APR; $60/mo, 120 mos, $25 admin fee, 7.86% APR; $125/mo, 120 mos, $25 admin fee, 7.86% APR; $175/mo, 120 mos, $25 admin fee, 7.15% APR; $350/mo, 120 mos, $25 admin fee, 7.15% APR;
Credit Strong For Business
N/A
Credit Strong For Business
CREDIT NEEDED
N/ACredit Strong For Business
Multiple different product options with different loan amounts and terms to help you:
- Build credit as cheaply as possible (Biz $2,500)
- Build credit & savings simultaneously (Biz $5,000)
- Build a large amount of credit (Biz $10,000)
Anyone is eligible, as long as we can verify your identity and business. Perfect for people with thin or no credit, since there is no credit check and no minimum credit score
Business requirements, the company must:
- Have a registered EIN (Employer Identification Number issued by the IRS
- Be at least 3 months old
- Be a LLC, partnership, or Corporation
- Be located in the United States and have a physical US address place of business
Individual requirements:
- Own at least 25% of the business
- Have no co-owner(s) that individually own 25% or more of the business
- Be at least 18 years old and be a permanent US resident
- Have a physical US residence
- Have a valid SSN or ITIN
- Have a valid identification document (Drivers license, State ID, Passport, Permanent Resident Card)
Impacts 90% of the factors used to calculate your credit score
- Payment history (35%)
- Amount of credit (30%)
- Length/age of credit (15%)
- Credit Mix (10%)
- New Credit (10%)
We’ll report loan payments each month. Making on-time payments are a positive signal to credit bureaus and help your score.
- All credit products are designed to give customers the ability (but not requirement) to demonstrate good financial behavior. The reverse is also true - Late payments are also reported!
The account is reported and will appear on a customer’s credit profile within 30-60 days after the first loan payment due date
- The first payment is due 30 days from account opening date and due on the same day each month
How CreditStrong Business works:
A secured loan is issued to you, and deposited in a locked savings account in your name held at Austin Capital Bank, the 5* rated community bank that powers CreditStrong
- These funds are secured, meaning they are not made available to you immediately
Each month, you make monthly payments towards the secured loan which pay down the loan balance
Each payment is split into 2 portions
- Interest: Cost for keeping the account open, account maintenance, reporting, etc. Think of this as the money you pay CreditStrong to build your credit.
- Principle: this goes towards the loan balance and principal payments will be available for withdrawal on completion of your loan. Think of this as money you pay to yourself each month for future use.
Each month, we report payment behavior to Equifax, PayNet, and SBFA. (remember:
make complete, on-time payments so we’re reporting GOOD credit behavior!)
- We plan to expand commercial credit reporting to Experian and Dun & Bradstreet in the near future.
What happens when the loan is paid off?
- Once the loan is paid off, the secured savings account is unlocked
- The funds in the unlocked savings account can then be withdrawn
- Once the account is paid off, it will be reported to credit bureaus as “Paid in full with a $0 balance” / ”Paid off”
Canceling:
- You can choose to cancel early with no prepayment or early termination fees.
- If you cancel early, the difference is unlocked, and the funds in your saving account (if any) can be accessed and transferred to your payment method on file with no fees or penalties
- If you have already made the admin fee payment and 1 or more loan payment (It will be closed out and reported as “Paid in full with a $0 balance” / ”Paid off” (which is the same as if you were to pay it off fully – there is no difference in reporting))
- If you have not made any payments or have made the admin fee payment but not a loan payment. It will not be reported and will not show on your credit report o If you have made more than 1 loan payment and want to cancel early. We use your secured savings to pay off the remaining loan balance
Self Financial - Credit Builder Account
Fair Credit, Bad Credit, No Credit
Self Financial - Credit Builder Account
CREDIT NEEDED
Fair CreditBad Credit
No Credit
Self offers Credit Builder Accounts.
- Self Financial helps you get a Credit Builder Account through their banking partners, which has a term of 24 months.
- All payments are reported to the three major credit bureaus as an installment loan which helps consumers build credit.
- Savings plans start at $25/month and include credit monitoring. At the end of account term, you've built credit history and your CD savings unlock. (minus interest and fees)
Sample loans: See self.inc/pricing $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR.
Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.
Date: 11-2-24
Kikoff Credit Account
Bad Credit, No Credit
Kikoff Credit Account
CREDIT NEEDED
Bad CreditNo Credit
Build credit with Kikoff. The safe way to build credit..
We help you establish positive payment history and lower utilization, both important factors for raising your credit score.
- No credit check. No hard pulls required
- Starts at $5/mo. Cancel anytime
- With 0% interest
- Open your account in minutes
- Easy & automatic. With the optional Autopay, never worry about due dates.
How does Kikoff work?
Kikoff is a credit-building service designed to help you build credit safely and responsibly. Our products are designed to target the 5 major credit score factors.
Kikoff offers 2 products:
- Kikoff Credit Account - this is a revolving line of credit. This account builds monthly payment history and helps reduce your credit utilization.
- Kikoff Credit Builder Loan - this is an additional product for customers with positive payment behavior on Kikoff products. Credit Builder Loan is a 1-year savings plan for $10/month.
Is this a credit card?
The Kikoff Credit Account is a revolving line of credit that gets reported to Equifax and Experian.
You are able to use the Kikoff Credit Account to finance the purchase of goods and services from Kikoff.
Unlike a credit card, the Kikoff Credit Account can only be used to make purchases from Kikoff (e.g. can’t buy gas or groceries)
Which bureaus does Kikoff report to?
Kikoff is an official data furnisher to the 3 major credit bureaus: Equifax, Experian, and TransUnion.
Please note that reporting depends upon which Kikoff products you have:
Kikoff Credit Account reports to Equifax and Experian.
Credit Builder Loan (optional add-on) reports to TransUnion and Equifax.
Please see all terms and conditions and state availability: https://kikoff.com/terms.pdf
Grow Credit
Bad Credit, No Credit
Grow Credit
CREDIT NEEDED
Bad CreditNo Credit
Grow Credit offers a free Mastercard you can use to pay your subscriptions and build your credit. Build Credit For Free!
We report your on-time payments to all three major credit bureaus (Equifax, Experian and TransUnion) which helps establish or boost your credit score.
- Grow Credit is a line of credit and there is no hard credit check, and applying will not impact your credit score.
- Grow Credit is a MasterCard which can be used to pay for subscriptions and build your credit. You can use your card to pay for any subscription, including Netflix, Spotify, Amazon Prime, and over 100 other services. You can set it and forget it. We automatically debit the cost of your subscription from your bank account every month, ensuring timely payment. Then, we report your progress to all three credit bureaus.
- You don’t need to have any credit history to sign up, and there is no deposit required for our Build, Grow, or Accelerate plans. For those who do not yet meet our income requirements, Grow has a Secured card option, which requires a $17 deposit.
- It is free to sign up for a Grow Credit Build account, and there is no obligation to upgrade to a paid account at any time. Free account holders have a $17 monthly limit that can be used exclusively to pay for subscriptions, but it’s reported to the credit bureaus as a $204 line of credit ($17 per month for 12 months).
- The Grow premium tier comes with a $50 monthly limit, reported to the bureaus as a $600 line of credit. The Accelerate premium tier comes with a $150 monthly limit, reported to the bureaus as an $1800 line of credit.
- If you don’t currently qualify for a Build account, you can open a Secured account. You will need to put down a $17 deposit, but that deposit will be refunded after 12 months of on-time payments.
- See all terms and conditions on the application page.
Other FAQ
- No hard inquiry
- Grow Credit is available in all US states.
