How credit-builder loans work
A credit-builder loan typically holds the loan amount in a secured account while you make payments. Once the term ends, you may receive the funds.
What to consider
- Whether the product reports to the bureaus that matter to you
- Any fees or interest
- Whether funds are accessible during the term
Important note
No product can guarantee a credit-score increase. Verify all terms with the provider.
This article is for informational and educational purposes only and is not financial advice.
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This article is for informational and educational purposes only and is not legal, tax, credit-repair, lending, or financial advice. Results vary and credit-score increases are not guaranteed.