Building Good Credit is Essential, and Self Makes It Easier

Apr 19, 2021

Written by: Nick Perry

This App Will Help You Build Your Savings & Repair Your Credit Score.

n these complicated economic times, most of us are thinking even more than usual about our finances. But unless you were prescient and took a personal finance course in high school or college, you may not have the financial literacy you need to increase your wealth and reach your financial goals. Even making a monthly budget to save for the future, while sounding simple, is more difficult than it seems. The median American savings account has just $7,000. That's not much to work with if you're looking towards your future.

To achieve financial independence, you have to develop some key habits, including building your savings and credit. When you have more in the bank and a strong credit, you may have a better chance at getting approved for a mortgage, securing an auto loan, and much more. If you're starting to make strides towards your financial future, Self Financial can help for as little as $25 a month*.

Self is a new way of building credit that's safe, secure, and far easier than dealing with credit card terms and minimums. 35% of your credit score is determined by payment history, and Self's Credit Builder Account program helps you establish that payment history, all while simultaneously building your savings. Just pay the initial loan each month on-time and, once the principal is paid off, the savings unlocks, giving you access to your money minus fees and interest. You don't even need a credit history to get started.

First, apply through Self's website or mobile app (or credit score won't be impacted). When you're approved, you can choose between four different Credit Builder Account plans, ranging from 12 to 24 months long*. You can choose the term and dollar amount that best fits your budget and goals. Then, just pay on time each month to build an established payment history that's reported to all three credit bureaus, growing your credit history over time. 

Good credit is a necessity for many of those adult things that we dream about, from cars to homes. Establishing that credit is tough, which is why Self provides a simpler solution. Self is so popular, it's earned a 4.9 rating in the App Store and a 4.8 rating in the Google Play Store as of March 2021. Click here to see if you qualify.

This is a sponsored post by Self where we may receive affiliate commission.

All Credit Builder Accounts made by Lead Bank, Member FDIC, Equal Housing Lender, Sunrise Banks, N.A. Member FDIC, Equal Housing Lender or Atlantic Capital Bank, N.A. Member FDIC, Equal Housing Lender. Subject to ID Verification. Individual borrowers must be a U.S. Citizen or permanent resident and at least 18 years old. Valid bank account and Social Security Number are required. All loans are subject to ID verification and consumer report review and approval. Results are not guaranteed. Improvement in your credit score is dependent on your specific situation and financial behavior. Failure to make monthly minimum payments by the payment due date each month may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. This product will not remove negative credit history from your credit report. All loans subject to approval. All Certificates of Deposit (CD) are deposited in Lead Bank, Member FDIC, Sunrise Banks, N.A., Member FDIC or Atlantic Capital Bank, N.A., Member FDIC.  The Self Visa Credit Card is issued by Lead Bank, Member FDIC, Equal Housing Lender.

*Sample products: A loan with a $25 monthly payment, 24 month term with a $9 admin fee at a 15.92% Annual Percentage Rate with a finance charge of $89; A loan with a $35 monthly payment, 24 month term with a $9 admin fee at a 15.97% Annual Percentage Rate with a finance charge of $125; A loan with a $48 monthly payment, 12 month term with a $9 admin fee at a 15.65% Annual Percentage Rate with a finance charge of $46; A loan with a $150 monthly payment, 12 month term with a $9 admin fee at a 15.91% Annual Percentage Rate with a finance charge of $146. Please refer to for the most recent pricing options.


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