About This App
For those looking to establish or improve their credit standing, managing finances can often feel like a challenge, especially without a prior credit history. Self offers a comprehensive approach by integrating credit building with savings, providing a structured path for users to achieve their financial goals.
Navigating the complexities of credit scores and credit cards can be daunting for newcomers. This app aims to demystify the process, offering tools and guidance to help individuals build a positive credit history and gain access to financial products they might otherwise be excluded from.
Best For
- Individuals with no credit history
- People looking to improve a low credit score
- Renters who want to leverage their payments
- Anyone seeking a credit card builder solution
- Users interested in combining credit building with savings
- Those who need credit reporting for utility bills
Key Features
Rent Reporting
Report your monthly rent payments to the major credit bureaus at no extra cost. This allows your on-time rent payments to contribute to your credit history, potentially improving your score without a credit check.
Credit Builder Account
Save money while building credit through a dedicated account. You make regular payments into a savings account, which then unlocks for you once the term is complete, minus interest and fees.
Self Visa Card
Qualify for a secured Visa credit card after successfully managing a Credit Builder Account. This card helps you continue building credit responsibly with a manageable credit limit.
Editor's Notes
- The app provides a clear and accessible pathway for credit building, particularly beneficial for those starting from scratch. Reporting additional bills like utilities is a valuable added feature, though it comes with a small monthly fee.
- While the average credit score increase is highlighted, individual results can vary based on payment history and other financial activities.
User Feedback
Users appreciate the accessibility for credit building and the combination of savings with credit growth. Some mention the utility reporting fee.