A credit-builder loan holds the amount borrowed in a bank account while you make payments, building credit

A credit-builder loan holds the amount borrowed in a bank account while you make payments, building credit

A credit-builder loan is designed to help people who have little or no credit history build credit. A good score makes approval for credit cards and loans, at better rates, more likely.

Credit-builder loans do not require good credit for approval. They do require that you have enough income to make payments. Continue reading “A credit-builder loan holds the amount borrowed in a bank account while you make payments, building credit”