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Credit Builder Savings Account

Credit Builder CD

Rental Reporting

If you want to build credit for paying your rent, look no further. 

With RentTrack, you can finally get the credit you deserve for paying rent by adding rent to your credit score!

 

 

All three bureaus: If your landlord uses RentTrack, report your rent to Experian, Transunion, and Equifax to avoid credit report gaps.

Protect your credit: Receive instant alerts to stay on top of changes that affect your credit.

No new debt: Don't take on loans or credit cards to build your score - just get credit for rent.

What is a Credit Builder Account?

Since the inception of Credit Building Savings and CD accounts, they have helped thousands of people begin their financial journey.

Building a financial foundation is a daunting task for most people, so by combining savings with credit building, products such as Credit Strong and Self Lender have been growing in popularity.

Regardless of whether the product is secured by a CD or Certificate of Deposit, or whether secured by a Savings Account, you can chose to make small monthly payments over a 12-24 month period that help consumers save money while simultaneously building out a more diverse credit profile.

 

Is a credit builder CD or Savings product right for you?

  • Do you have a thin credit profile? You may be considered 'unscored', typically making it difficult to get a traditional credit card or other financial product due to your lack of history. Self Lender provides a path to building a stronger credit profile. 
  • Do you have generally poor or bad credit? These accounts are helping people all over the country to build their credit with a low risk, low cost product that reports to all 3 credit bureaus each month.
  • Will you benefit from a more diverse credit mix? Indubitably! Credit mix accounts for 15% of a your credit profile. If you don't have any installment loans on your credit report this account is a must have. Credit Builder Savings accounts help to improve credit mix.
  • Do you need help budgeting for a house or auto loan? If you need help budgeting for a mortgage or auto loan payment, a credit builder savings account can help. With structured monthly payments, you can emulate a monthly payment while helping build your credit. At the close of the loan, you will have cash in hand for a down payment. Bonus! 

 

Summary Bullet Points:

  • Get the savings plan that helps build credit today! No checking account or security deposit required. 
  • Choose the amount you want to save and make monthly payments towards your savings goal
  • Monthly payments are reported to the three major credit bureaus.