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Credit-builder loans and accounts compared

A credit-builder loan or account helps you start or rebuild credit when you have little or none. You make small monthly payments, the company reports them to the credit bureaus, and on-time payments build your history. Late payments get reported too and can hurt. These are what each provider says on its own page.

Self

What it is
Credit-builder loan (money held, paid out at end)
Monthly cost
Plans shown from $25/mo (example: $35/mo for 24 months returns $717)
Other fees / interest
APR up to about 16% depending on plan; $9 nonrefundable admin fee (per Self)
Reports to
All 3 bureaus
Credit check to apply
not found

Source: Self page (checked 2026-10-12)

Chime Credit Builder

What it is
Secured credit card
Monthly cost
No annual fee
Other fees / interest
No interest
Reports to
All 3 major bureaus
Credit check to apply
No credit check

Chime describes it as a secured card; requirements to open (such as a Chime account) are set out on Chime's page.

Source: Chime Credit Builder page (checked 2026-10-12)

Kikoff

What it is
Credit-builder plans
Monthly cost
From $5/mo
Other fees / interest
No interest; no hidden fees (per Kikoff)
Reports to
All 3 bureaus
Credit check to apply
No credit check

Source: Kikoff page (checked 2026-10-12)

Credit Strong

What it is
Credit-builder loan (installment) or revolving line
Monthly cost
From $15/mo (revolving, $1,000–$10,000) or $16/mo (installment, $1,000–$25,000)
Other fees / interest
No hidden fees (per Credit Strong)
Reports to
not found
Credit check to apply
No credit check

Source: Credit Strong page (checked 2026-10-12)

MoneyLion Credit Builder Plus: its page returned 404 when we checked (2026-10-12), so it's not listed.

Compare two

Facts copied from each provider's own page on the date shown; “not found” means we couldn't confirm it there. Prices change, so check the provider before you sign up. No paid placement.

FAQ

How does a credit-builder loan work?

You pay a fixed amount each month; the provider reports the payments to the credit bureaus. With Self, the money is held and you get it back at the end (Self's example: $35/month for 24 months, then you get $717).

Can a credit-builder hurt my credit?

Yes, if you pay late. Self and Credit Strong both say missed payments may be reported as delinquent and hurt your score.

Credit-builder loan or secured card?

Both report to the bureaus. A secured card adds a credit card (revolving) account and needs a deposit; a builder loan adds an installment account. See our secured card list to compare.

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.