Jennifer R.
• Jun 1
For those of you that are on the fence about the Credit Builder loan, it is absolutely worth doing. You get an initial $200 upfront, and as you make your monthly payments, the rest grows. After a year, you walk away with the other $800 plus the accumulated interest.
Because they report to the credit bureaus every month, it’s a great tool for your credit. Best of luck with it!
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Just FYI for everyone, so you are not caught off guard, is that ppl will be approved for the loan, ppl will get excited bc they are approved; however, the credit builder loan will sit in a reserve account until the FULL amount is paid for , which means that you make payments for one year on the 1k loan and once it is paid in full, only then will they release the 1k worth of funds to you.
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I only got $100 out of $1000 now I'm paying on a loan and having to wait for the rest🫠. I could have used it all at one time... Now I'm stuck in something i can't even use until next year possibly?!?!?!.
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UPDATE: I just paid off my loan & I had previously told people that I didn’t know how long it would take to release the remaining $800+ to me but I now have been told that my funds will be there within 3 days! 😊👏🏼
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Wait u got 2 I only for 1
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What do we need to get accepted?
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How long before you get the 200
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I tried to get one but they aren't available in Montana where I live which is really a bummer!
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I just started. I think I can make it through this.
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I never got any upfront money.
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I was just considering it.
I have done twice...works as long as you pay all your bills on time
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Thank you for the words! Looking forward to keeping things simple and easy.
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Need to look into this… 👀
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Thanks for the info much appreciated
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I only received $100, but it helped at the time ,
On my second. Paid the first one off.
You get what you can afford and then pay the loan and save theres plenty of places that do it
Truly works...I had no score til I did it now my scores are excellent but the amount of time you have that account is also a factor so you gotta stick with it and it will improve scores all around
I haven't gotten $200.
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Yes totally worth it
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