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Build credit,build savings.

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Build is a financial technology company, not a bank

How It Works

How it works
Create a Credit Builder Account
Build gives you access to a loan
to create a bank account & store
your credit builder savings. No
credit check required.
How it works
Build Savings Over Time
Choose a plan that fits your
monthly budget & savings goals.
Each contribution increases your
ownership of the bank account.

What You Get

How it works
Improve Your Credit Profile
Each payment into the account
is reported to the three major
credit bureaus and enhances
your credit history.
How it works
Enjoy Your Savings
The accumulated savings are
yours, less interest and fees.

Why it works

Positive payment history is the LARGEST driver of credit score.
We can help.
Payment History
35%
Amount Owed
30%
Credit Mix
15%
Length of Credit History
10%
New Credit
10%
fico
The CFPB has seen 60+ point improvements using credit builder products.¹

FAQ

What is Build?

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Build is a financial technology company that believes everyone should have the opportunity to improve their financial health. We’ve worked hard to provide you credit-building products like the Build Credit Builder Loan, which will allow you to add positive credit history to your credit report while also building personal savings. In addition, we give you access to articles and content that further educate you about personal finances.

What is a credit builder loan?

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A credit builder loan is a secured installment loan that is designed to help you demonstrate your creditworthiness while accumulating savings for a rainy day. When you make regular payments on your credit builder loan, the lender reports your positive credit history to the credit bureaus, which is a key ingredient for boosting your credit score. One thing to know about credit builder loans is that, unlike other loans, they provide access to the money upon fully paying the loan. In other words, at the end of the loan period you will receive your money and the benefit of having all credit bureaus notified of your positive credit history.

How does a credit builder loan work?

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You pick a Build Credit Builder loan that works for you, apply, and get approved. Then your account is established and you will have aBuild Credit Builder loan. As you make monthly payments on that loan, that activity is reported to the credit bureaus at the beginning of each month, which adds to your positive credit history. Keeping up with payments on your Build Credit Builder loan is important because it shows your ability to make timely payments on a credit account. The most commonly used credit scores, such as FICO and VantageScore consider this timely repayment history as the biggest determinant of your credit score. When you finish making your payments, you receive your money and your credit score will reflect your positive credit history.

How fast can I raise my credit with Build?

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This varies based on your individual circumstances. The lender will report your positive payment history to the credit bureaus each month, however the time it takes to affect your credit score varies based on other factors like your history with credit, other outstanding debt, and your payment history. We have seen through the Consumer Finance Protection Bureau’s 1 study of credit builder loans that credit scores of those without existing debt can increase by an average of 60 points 1 over the course of 6 to 24 months.

Does Build charge fees?

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Yes. We charge a one-time, non-refundable account opening fee of $9.