How does a Self Credit Builder Secured work?

Unlock more benefits and learn how to apply

Self Credit Builder Secured guarantees the combination of different loan and card accounts that have been specially created to increase the credit score of its users, being much more than just a credit card.

In other words, it works like a combo. This means that before you have a credit card, you start with a Self Credit Builder loan. That is, you take some money from your savings account and deposit it into your account, as if it were a loan. Monthly payments are required until you finish paying the full amount and gain access to your account.

One of the main advantages of this method is that you get all your money back, except for the interest and management fees. In addition, your history is reported to the three major credit bureaus, improving your score.

After a period of three months of making the payment correctly, you become eligible for a Self Credit Builder guaranteed credit card. By requesting it, you can rest assured that the company does not carry out any type of credit check, avoiding harming your history.

Your credit limit will be based on the amount that you have in your Self Credit Builder account. So if you make higher deposits, you can get a higher safe limit. If you continue to make deposits and payments on a monthly basis, you may be able to request to increase your limit even further after some time.

In addition, combining a credit card with a loan account allows your credit score to rise even faster, building up a credit history and getting better and better service.

CREDIT CARD

SELF CREDIT BUILDER SECURED

$0 FRAUD LIABILITY PROTECTION ACCEPTED THROUGHT THE US

APPLY NOW Upon clicking you will be redirected to a new website

More benefits for Self Credit Builder Secured

This credit card is mainly for people who want to build their credit history without the need for a credit check, as there is not much more it can offer you.

The credit card does not offer any type of reward program, cashback or attention-grabbing introductory APR offers. But, as stated earlier, its purpose is just to allow people to build a credit history.

Among some of the advantages of Self Credit Builder Secured we can highlight:

• Excellent credit combo combined with account.
• It does not require a security deposit, instead a loan is taken.
• $0 Fraud Liability Protection;
• This credit card is accepted throughout the US;
• It is possible to make automatic payment through the application, avoiding delays and interest.

Reporting to Major Credit Bureaus

Responsible credit usage is essential for improving credit scores, and the Self Credit Builder Secured Card facilitates this by reporting account activity to major credit bureaus. By demonstrating positive credit behavior, such as making timely payments and maintaining a low credit utilization ratio, cardholders can effectively demonstrate their creditworthiness and build a solid credit history over time.

Rates and fees for this credit card

When applying for this credit card, it is important to be aware of the fees charged. See which ones below:

• $9 administration fee;
• 15,97% variable APR;
• $125 finance charge.

The good news is that you simply pay your balance in full each month and you are free to pay all these fees. The only fee that will affect your credit limit will be the $9 annual fee.

As the Self Credit Builder Secured Card is intended for people with a low credit score, anyone can be eligible for it, without the need for a credit check.

How to Apply for the Self Credit Builder Secured Card

The Self Credit Builder Secured Card is a great option for individuals looking to build or improve their credit score. Designed for those who may not qualify for traditional credit cards, this secured card allows you to build a positive credit history by using your savings as collateral. Follow this step-by-step guide to apply and start building your credit today.

Step 1: Open a Self Credit Builder Account

To qualify for the Self Credit Builder Secured Card, you must first open a Self Credit Builder Account. Here’s how:

1. Visit the Self Credit Builder Account page.
2. Click on “Start Building Today” and follow the prompts to create an account.
3. Choose a payment plan that works for you, ranging from $25 to $150 per month.
4. Make your first monthly payment to begin building your savings, which will serve as your deposit for the secured card.

The Credit Builder Account is essential, as it allows you to build savings while establishing a credit history.

Step 2: Meet the Requirements for the Secured Card

To become eligible for the Self Credit Builder Secured Card, you must meet the following conditions:

• Have an active Credit Builder Account in good standing.
• Accumulate at least $100 in your savings account, which will act as your security deposit.
• Make three consecutive on-time payments on your Credit Builder Account.

These conditions ensure that you are on the right track toward responsible credit use before applying for the secured card.

Step 3: Apply for the Self Credit Builder Secured Card

Once you’ve met the eligibility requirements, you can apply for the secured card. Here’s how to do it:

1. Log into your Self Credit Builder Account.
2. Navigate to the secured card section, where you’ll see the option to apply.
3. Confirm that you meet the eligibility criteria and have at least $100 saved.
4. Submit your application, and Self will use your savings as the deposit for your secured card.

There is no credit check required for this application, as you’ve already established creditworthiness through your Credit Builder Account.

Step 4: Receive and Activate Your Card

If your application is approved, Self will send your Credit Builder Secured Card by mail. It typically takes 7-10 business days to receive the card. Once it arrives, follow these steps to activate it:

1. Log into your Self account or use the Self mobile app.
2. Navigate to the “Credit Cards” section and follow the prompts to activate your card.
3. Start using your secured card responsibly to build credit.

Step 5: Use Your Card to Build Credit

Now that your Self Credit Builder Secured Card is active, you can use it to make everyday purchases. Here are a few tips to help you build credit effectively:

• Keep your credit utilization below 30% of your credit limit.
• Make payments on time, every month.
• Monitor your account regularly through the Self app.

As you build positive credit habits, Self will report your on-time payments to the major credit bureaus, helping you improve your credit score over time.

Conclusion

The Self Credit Builder Secured Card is a powerful tool for anyone looking to improve their credit. By following these steps, you can easily apply for the card and start building a stronger financial future. Ready to begin? Open a Self Credit Builder Account today and take the first step toward better credit.

CREDIT CARD

SELF CREDIT BUILDER SECURED

$0 FRAUD LIABILITY PROTECTION ACCEPTED THROUGHT THE US

APPLY NOW Upon clicking you will be redirected to a new website