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How It Works

Create a Credit Builder
Account

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

Create a 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.

Enjoy Your Savings

What you Get

Create a Credit Builder
Account

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

Create a 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.

Enjoy Your Savings

Benefits of Build

  • No Credit Check or Hard Pull

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

  • Know Your Credit Score

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

  • 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.

  • Cancel Anytime

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

Credit Building Plans

Here’s how it breaks down in percentages:

35%

Timely payments

The single most important factor in determining your score is whether you make your payments on time. If you’re more than 30 days late making a loan or credit card payment or if a bill you owe goes into collections, your credit score could drop by 100 points or more. Late or missing payments can stay on your credit report for as long as ten years.

Build helps you establish a history of consistent payments with a low monthly commitment. Even better, you’ll get the majority of your payments back, meaning you’re improving your credit and creating savings.

15%

Length of credit history

The longer you’ve been making regular payments on your cards and loans, the higher your score will be. It’s often smart to keep older credit card accounts open, even if you’re not using them anymore.

If you don’t have a credit history at all, don’t wait to get started. Build is a great, affordable way to start creating your credit history—and you’ll save money while doing it!

30%

Debt & credit utilization

This is the overall amount of debt you carry as well as your “credit utilization rate,” which is the amount you owe relative to the amount of credit you have. For example, if your credit card has a limit of $1000 and you’ve charged $500, you’re at a 50% credit utilization rate. It’s smart to pay as much of your debt down as possible and keep your credit utilization rate under 30%.

10%

Credit mix

Lenders like to see a mix of “revolving credit” (credit cards) with “installment loans” (set loans with monthly payments, like car loans, student loans, or Build Credit Builder loans!).

10%

New credit inquiries

Every time you apply for a new loan or a new credit card, you get what’s called a “hard inquiry” on your credit report. Each hard inquiry lowers your score by about five points and stays on your report for two years, so keep applications for new credit to a minimum.

We don’t think you should have to lower your score in order to improve it. Build does not make a hard inquiry on your credit report, so you risk nothing by opening an account with us.

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.

Build credit,build savings.

Build is a financial technology company, not a bank

How It Works

Create a Credit Builder Account
Build gives you access to a loan to create a bank account & store your credit builder savings. No credit check required.
Build Savings Over Time
Choose a plan that fits your monthly budget & savings goals. Each contribution increases your ownership of the bank account.

What You Get

Improve Your Credit Profile
Each payment into the account is reported to the three major credit bureaus and enhances your credit history.
Enjoy Your Savings
The accumulated savings are yours, less interest and fees.

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%
The CFPB has seen 60+ point improvements using credit builder products.¹

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.