Impact Credit Scores - Self
Welcome to Self, your credit building toolbox. With the Self credit app, you can build credit, track your credit score, unlock a credit card, and more. Whether you have a low credit score or no credit score at all, you can get started today with Self. All credit scores are welcome.
The Self credit app allows you to build credit with all three major credit bureaus: Equifax, Experian, and TransUnion. This service is included with the Self app at no extra cost. Building credit requires no credit score and involves no hard pull. By establishing positive payment history, which is the most important factor in building credit, you can monitor your credit score with VantageScore 3.0.
If you want to grow your credit and savings, you can take advantage of the Credit Builder Account offered by Self. Plans start at $25 per month, and at the end, you can unlock your savings minus interest and fees. Like building credit, this account does not require a credit score or a hard credit inquiry.
Another option for credit builders is the secured Self Visa Credit Card, which can be obtained through the Credit Builder Account. With this credit card, you can control your credit limit and build credit with all three credit bureaus. It is accepted wherever Visa is accepted in the US.
Self also allows you to build credit by reporting your bills, such as cell phone, water, electricity, and gas payments. You can add up to five payments to your credit each month for a monthly fee of $6.95. This service can be canceled at any time.
Self customers who start with a credit score under 600 and make on-time payments see an average increase of 49 points in their credit scores. This shows the effectiveness of Self's credit building tools.
As you continue your credit building journey with Self, you may unlock new offers, products, and ways to save money. Self will notify you when these opportunities become available.
To access the Self Visa Credit Card, you must meet specific eligibility requirements, including having a Credit Builder Account in good standing, making three on-time payments, having savings progress of $100 or more, and satisfying income requirements. These requirements are subject to change.
It's important to note that Self's credit building accounts are issued by reputable banks and are subject to ID verification, credit review, and approval. You must be a US citizen, permanent resident, or non-residential US alien, at least 18 years old, and have a bank account.
Self provides a range of loan products, with a minimum and maximum repayment period of 24 months. The maximum APR for all loan products is 15.97%. Specific pricing details can be found on the Self mobile app or website.
Results may vary for each individual, and improvement in your credit score depends on your specific situation and financial behavior. Failure to make monthly minimum payments on time may negatively impact your credit score. Self's products do not remove negative credit history from your credit report.
The Self Visa Credit Card is issued by Lead Bank, First Century Bank, or SouthState Bank, all of which are members of FDIC.
The average outcome for customers who opened a 12-month Credit Builder account in Q1 2021, with a starting VantageScore 3.0 under 600 and made on-time payments, was an increase of 49 points. However, other factors such as activity with other creditors can also impact results. On-time payments do not guarantee program completion, and past performance does not guarantee future results. There is no guaranteed increase in credit score.