Self - Credit Builder 4+

So happy to build my credit

A couple of years ago I got injured. Lost my job without getting fired and I’m still technically on CVS’ payroll system because they send me checks whenever there is a lawsuit against them. I have alerted their team as well as my old store manager of this several times. I’m still on it, whatever I don’t care. I’m just happy that after I had to max out all of my credit cards until I got another steady job a year later. I am now back up to 534 (which isn’t great but) after the pandemic hit it made it harder. Self has been helping tremendously, that 534 is coming back up from 289... I was disgusted seeing that after getting my score up to 702 at 20 years old. 289 at 23 and now 534 at 25. Thank you self, thank you for reading this if you did. I hope it helps you as much as it has helped me. I can’t wait to get the loan at the end of the term. It’s honestly kind of like getting a tax return when you think about it while boosting your credit. There’s no drawback. Even if you think about it in a negative way, your paying into boosting your credit and getting 95% of your money back? What’s negative again? By the way. It also has APR/APY. So at the end of the term you get more money than what you put in. I just noticed this. It started out at $1663 it now has more in it.

Helpful Tool

If you use this correctly it will help you. But you have to put in the minimal amount of work it’s asking you to do. Set a reminder and make sure you pay your monthly amount if you don’t set up an automatic payment plan (that’s the easiest). The first time I used self I didn’t realize there was a set amount that you have to pay off, and paying it off slowly and with the same amount is the most helpful for your credit. I got it in my head that I would use the app to save money and started making payments to myself all the time but it did nothing but pay myself off earlier and ended the what’s supposed to be a year long contract early. I had to wait over a month to finally get my check which sucked because I wanted to make sure they actually paid me. I spent time making calls to them finding out where the check was. Pros. You’re essentially paying yourself to improve your credit score. Cons. Takes a while for check to come. You really screw yourself over if you miss a payment (I would imagine, so don’t miss a payment). I am about halfway through my second term and making the automatic payments.
When you end the contract your credit drops a Little bit so I started a new one and am making all on time payments to help it even more. It’s a pretty cool system. Just don’t pay it off early.

Wouldn’t Recommend

At first, it seemed like a good idea and I’m not saying it’s a bad idea, but I’m gonna give you the warnings of using this process to build your credit. You have to pay a fee I think 25 and then they also take out an interest percentage out of your payments as well so I think I paid around 600 and got 521 back so it cost me about $100 to use this throughout the time of two years I had a 24 month payment plan to do the credit builder account and it raised my account by 24 points and I know everyone’s is different but once I paid it off, they automatically close the account for me and lowered my score by 39 points so basically I am 15 points lower than when I started even using this app! They also opened a rent and bills one too that I don’t remember opening myself and I once I told him I didn’t want that. They canceled it automatically after me saying that and it hit my credit report for that as well. So be very weary when you go to use this and pay attention to literally everything. I’ve also heard of other people not even getting their money back. I got mine back within 2 1/2 weeks, but I’m very upset at the fact that they close the account and they say they automatically deal with the credit builder account, which is dumb. I think that should be our choice. I spent two years working on this for it to be lower than when I started. I will never use again and I will never recommend!

Developer Response ,

We definitely want to help make this right. When you get a chance, please contact us so we can learn more and assist.