Build Credit While Saving with a Credit Builder Loan | Build
Build credit, build savings.

Build credit, build savings.

Build credit, build savings.
A Better Life Starts with Better Credit.

How It Works

Create a Credit Builder
Account

Apply for our credit builder loan.
Start building credit and savings¹. No credit check required.

credit builder account

Make Payments into your
Build Account

Choose a plan that fits your budget & savings goals. Each contribution increases your ownership of the bank account.

payment process

What you Get

Improve Your Credit Profile

Monthly payments are reported to
the three major credit bureaus to
help build your credit history.

Improve Credit

Enjoy Your Savings

After your final payment, the
accumulated savings are yours
(less interest).

Enjoy Saving
Benefit Image

Benefits of the Build Credit Builder Loan

  • No Credit Check or Hard Pull

    You can get started today, without a credit check. There is no hard pull on your credit.

  • Validating Account

    Know Your Credit Score

    Your Build account lets you see and track your credit score, so you know where you stand.

  • calendar

    Automated For Your Convenience

    Each month, we can help simplify building your credit when you select automated payments. Stay on track to keep building your credit.

  • close

    Cancel Anytime

    We’re here to help you build credit. Plus, you’ll get your savings progress back, less accrued interest. If for some reason you need to cancel though, you can cancel your account at any time.

Credit Building Plans

STARTER

$25/mo

for 24 months

You Build:
$520
  • Admin fee

    $9
  • Total Payment

    $600
  • Get Back

    $520
  • Final Costs

    $89
  • APR

    15.92%
Get Started

INTERMEDIATE

$35/mo

for 24 months

You Build:
$724
  • Admin fee

    $9
  • Total Payment

    $840
  • Get Back

    $724
  • Final Costs

    $125
  • APR

    15.97%
Get Started

VALUE BUILDER

$48/mo

for 12 months

You Build:
$539
  • Admin fee

    $9
  • Total Payment

    $576
  • Get Back

    $539
  • Final Costs

    $46
  • APR

    15.65%
Get Started

EXPERT SAVER

$150/mo

for 12 months

You Build:
$1663
  • Admin fee

    $9
  • Total Payment

    $1800
  • Get Back

    $1663
  • Final Costs

    $146
  • APR

    15.91%
Get Started

Why it works

Positive payment history is the LARGEST driver of credit score. We can help.

  • Payment History 35%
  • Amount Owed 30%
  • Credit Mix 15%
  • Length of Credit History 10%
  • New Credit 10%
Independent research has shown 60+ improvements from credit builder products.²

FAQ

What is Build?

Build is a financial technology company that believes everyone should have the opportunity to improve their financial health. We’ve worked hard to provide you credit-building products like the Build Credit Builder Loan, which will allow you to add positive credit history to your credit report while also building personal savings. In addition, we give you access to articles and content that further educate you about personal finances.

What is a credit builder loan?

A credit builder loan is a secured installment loan that is designed to help you demonstrate your creditworthiness while accumulating savings for a rainy day. When you make regular payments on your credit builder loan, the lender reports your positive credit history to the credit bureaus, which is a key ingredient for boosting your credit score. One thing to know about credit builder loans is that, unlike other loans, they provide access to the money upon fully paying the loan. In other words, at the end of the loan period you will receive your money and the benefit of having all credit bureaus notified of your positive credit history.

How does a credit builder loan work?

You pick a Build Credit Builder loan that works for you, apply, and get approved. Then your account is established and you will have a Build Credit Builder loan. As you make monthly payments on that loan, that activity is reported to the credit bureaus at the beginning of each month, which adds to your positive credit history. Keeping up with payments on your Build Credit Builder loan is important because it shows your ability to make timely payments on a credit account. The most commonly used credit scores, such as FICO and VantageScore consider this timely repayment history as the biggest determinant of your credit score. When you finish making your payments, you receive your money and your credit score will reflect your positive credit history.

How fast can I raise my credit with Build?

This varies based on your individual circumstances. The lender will report your positive payment history to the credit bureaus each month, however the time it takes to affect your credit score varies based on other factors like your history with credit, other outstanding debt, and your payment history. We have seen through the Consumer Finance Protection Bureau’s 1 study of credit builder loans that credit scores of those without existing debt can increase by an average of 60 points 1 over the course of 6 to 24 months.

Does Build charge fees?

Yes. We charge a one-time, non-refundable account opening fee of $9.