What Is a Credit Builder Loan?

A credit builder loan is a financial product that can help consumers establish a positive credit history. Unlike a traditional loan, borrowers will receive a

Brand

loans like lendumo
Lendmo is an online tribal lender that offers installment loans. Similar lenders to Lendmo include River Valley Loans, Mawka Finance, and Plain Green Loans, which…
Bright Lending
Key Takeaways Loans like Bright Lending are tribal loans with high APRs, appealing to those with poor credit needing fast cash, but their costly repayment terms…

Budgeting

what is suspense balance
Key Takeaways A suspense balance is money temporarily held in a suspense account, typically due to incomplete, partial, or unclear payments—common in mortgage loans but not…
wrap your car for money
Key Takeaways You can wrap your car to earn money—typically between $100 and $500 per month—by allowing companies to display advertisements on your vehicle using vinyl…
How to Get a loan with no income
Key Takeaways Getting a no income loan is possible if the borrower shows proof of other forms of income, such as Social Security, rent, or unemployment…

Credit

personal loans for credit score under 600
Key Takeaways Loans for a 600 credit score are available, including payday loans, secured loans, and peer-to-peer loans, though they often come with higher interest rates…
why did my credit score drop when my balance decreased
Key Takeaways Your credit score may drop when your balance decreases due to related factors like closed accounts reducing your credit utilization limit, loss of credit…
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Debt

How to Get a loan with no income
Key Takeaways Getting a no income loan is possible if the borrower shows proof of other forms of income, such as Social Security, rent, or unemployment…
pros and cons of debt relief
When you have more debt than you know how to pay back, it can be incredibly anxiety-inducing. Monthly debt payments might be taking over your…
payday loan vs cash advance
A payday loan vs. cash advance are both ways for people to borrow money from their next paycheck. A payday loan is essentially one type…

Interest Rates

interest rates explained true cost
An interest rate is the amount lenders charge for borrowing money. It’s typically expressed as a percentage of the principal on an annual basis. Interest…
explain the difference between simple interest and compound interest
Simple interest is a way of calculating the interest charge on a loan or investment based on the original principal amount and the interest rate….

Loans

getting a $5,000 loan with bad credit
Key Takeaways If you need $5,000 now with bad credit, your options consist of personal installment loans, secured title loans, and high-interest payday loans, but the…
personal loans for credit score under 600
Key Takeaways Loans for a 600 credit score are available, including payday loans, secured loans, and peer-to-peer loans, though they often come with higher interest rates…
does 401k loan affect credit
Key Takeaways A 401(k) loan does not affect your credit score because it is not reported to credit bureaus and does not require a credit check…

Quick And Easy Personal Loans Up To $2500*