Building out your credit profile properly is the most importing aspect in the process of mastering your personal credit, not your credit score. Your credit score is a byproduct of your credit profile. By strategically adding a solid payment history to the accounts listed below (installment loans, revolving lines of credit, credit builder loans and credit builder cards), you can use them to establish or rebuild your credit profile. These accounts report monthly to TransUnion, Equifax, and Experian. Click on the account name to sign up for that particular account.
Credit Reliant Builder Card is a secured credit card marketplace. We match you with a secured credit card that has a low $200 security deposit and reports to all three credit agencies based on your state of residence. When you apply, there is no hard credit pull and no credit score requirement for approval. Because you use your own money to fund your secured credit card, there are no strict credit requirements.
The Self credit builder loan, formerly known as Self Lender, is a type of installment loan designed to assist borrowers in establishing or raising their credit scores. It functions by allowing borrowers to make regular deposits into a savings account, which is subsequently released to them at the conclusion of the loan term. Additionally, it reports their timely payments to the major credit agencies to build a strong credit history.
Kovo
With Kovo, you don’t borrow money and repay the loan over time. Instead, you buy access to Kovo’s curated courses, paying them off over 24 months. Those monthly installments act as on-time loan payments, which Kovo reports to TransUnion, Experian, Equifax, and Innovis. A Kovo loan also diversifies your credit mix and increases your length of credit history over time, which can boost your score.
Kikoff credit builder loans are installment loans that are aimed to assist people develop or improve their credit score. It provides competitive interest rates and flexible payback options, and it reports on-time payments to the major credit agencies, assisting in the development of a favorable credit history.
StellarFi assists you in constructing all scores, including FICO and VantageScore. They focus on the two most important credit-building factors: payment history and credit utilization. This account optimizes your credit usage by reporting a higher limit, which can lower your credit utilization (and hence improve your credit score). When the StellarFi account is added to your report, your credit score may rise, and your credit mix may improve.
Boom is an app that allows renters to report rent payments to the three major credit bureaus. It also allows renters to break their rent payments up into several installments throughout the month. Boom is one of the most cost-effective rent reporting services on the market. Your rental agreement can be a lease, sublease, or roommate agreement. It must state who you are renting from, your address, and the term of your lease.
Credit Rent Boost helps tenants and landlords improve their credit ratings by submitting monthly rent payments to TransUnion and Equifax. They provide rent reporting services to all individuals listed on the lease agreement. As a result, spouses and roommates can benefit from the credit increase caused by their payments, resulting in faster credit score growth. They can report the previous 24 months of rent payments, providing you with an immediate two-year credit history.
The Chime Visa credit builder card is a credit card designed for consumers wishing to build or improve their credit score. It has no annual fee, no interest charges, and provides automated reporting to major credit agencies to assist in establishing a solid payment history.
Varo’s online checking account—known as the Varo Bank Account—doesn’t charge monthly maintenance fees, and you don’t need to keep a minimum balance in your account. A government-issued I.D. and Social Security number are required for sign-up, but no minimum deposit is required to open your account. You must be 18 and have a device that can access Varo’s mobile app.
Cred.ai is a high-tech and premium everyday spending experience that offers a free metal card — They guarantee that you’ll never pay fees or interest and never overspend. Plus, they offer cutting-edge technology like Check Please™ and Flux Capacitor to help you optimize your credit utilization and even get your paycheck up to two days early. Apply with invite code : RYFLGQ
The FIT Platinum Mastercard is designed for customers who want to rebuild or establish credit. They send monthly payment reports to all three major credit bureaus. There is a $400 initial credit limit, but cardholders may be eligible for a credit limit increase after six months. Customers with poor or no credit may be eligible for this card.
The Surge Platinum Mastercard is intended for customers with no credit history or a low credit score, thus it should be accessible to the majority of credit-builders. The Surge Platinum Mastercard, like most credit cards, requires applicants to have a bank account. You can also prequalify for the card with just a soft credit pull. This will have no impact on your credit score and is not a guarantee of approval.
Credit Strong is an online lender that provides credit builder loans. These are special loans that do not allow you to borrow money. Instead, they're like forced savings plans that you can utilize to develop your credit history even if you have bad or no credit.
Experian Boost is a simple approach for you to take charge of your credit and improve your long-term credit health by simply paying your bills on time. When you link your bank, credit card, or service provider to Boost, we'll search for bills with a positive history that you may add to your Experian credit file. It may also immediately improve your FICO Score!
The Go2Bank credit card comes with no annual charge and is provided by Go2Bank, a mobile banking service. It provides cashback benefits on qualified purchases and allows cardholders to track their spending and manage their accounts all in one app.
