{"id":2857,"date":"2023-04-25T17:35:00","date_gmt":"2023-04-25T17:35:00","guid":{"rendered":"https:\/\/content-hub.stackcommerce.net\/guide\/?p=2857"},"modified":"2023-06-16T22:10:29","modified_gmt":"2023-06-16T22:10:29","slug":"self-credit-builder-review-2023-build-credit-and-savings","status":"publish","type":"post","link":"https:\/\/content-hub.stackcommerce.net\/guide\/credit-cards\/self-credit-builder-review-2023-build-credit-and-savings","title":{"rendered":"Self Credit Builder Review 2023: Build Credit and Savings"},"content":{"rendered":"<div class=\"share-slot none \"><div class=\"addtoany_shortcode\"><div class=\"a2a_kit a2a_kit_size_30 addtoany_list\" data-a2a-url=\"https:\/\/content-hub.stackcommerce.net\/guide\/credit-cards\/self-credit-builder-review-2023-build-credit-and-savings\" data-a2a-title=\"Self Credit Builder Review 2023: Build Credit and Savings\"><a class=\"a2a_button_copy_link\" href=\"https:\/\/www.addtoany.com\/add_to\/copy_link?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Copy Link\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_facebook\" href=\"https:\/\/www.addtoany.com\/add_to\/facebook?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_twitter\" href=\"https:\/\/www.addtoany.com\/add_to\/twitter?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Twitter\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_email\" href=\"https:\/\/www.addtoany.com\/add_to\/email?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Email\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_linkedin\" href=\"https:\/\/www.addtoany.com\/add_to\/linkedin?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"LinkedIn\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_facebook_messenger\" href=\"https:\/\/www.addtoany.com\/add_to\/facebook_messenger?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Messenger\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_dd addtoany_share_save addtoany_share\" href=\"https:\/\/www.addtoany.com\/share\"><\/a><\/div><\/div><\/div>\n\n\t<div class=\"entrepreneur-authors\">\n\t\t<div class=\"images\">\n\t\t\t<a href=\"https:\/\/content-hub.stackcommerce.net\/guide\/author\/hannah-emerson\"><img loading=\"lazy\" src=\"https:\/\/content-hub.stackcommerce.net\/guide\/wp-content\/uploads\/2023\/03\/IMG_3867-150x150.jpg\" width=\"48\" height=\"48\" alt=\"Hannah Emerson\" class=\"avatar avatar-48 wp-user-avatar wp-user-avatar-48 alignnone photo\" \/><\/a>\t\t<\/div>\n\t\t<div class=\"members\">\n\t\t\t<span class=\"member\"><a href=\"https:\/\/content-hub.stackcommerce.net\/guide\/author\/hannah-emerson\">Hannah Emerson<\/a><\/span>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\n\n\n<div class=\"wp-block-entrepreneur-guide-commission-notice wp-block-entrepreneur commission-notice-block\"><p class=\"text\"><em>This article is sponsored by\u00a0<\/em><strong>Self<\/strong><em>\u00a0and does not reflect the views or opinions of our editors.<\/em><br><br>We may earn an affiliate commission from partner links on the Entrepreneur Guide. These do not affect our editors\u2019 opinions.<\/p><\/div>\n\n\n\n<p><a href=\"https:\/\/clicks.trx-hub.com\/xid\/stackcom_faf36_stackcom?q=https%3A%2F%2Fself-lender.3qcw.net%2FbaObYM&amp;p=selfcreditreview&amp;event_type=click&amp;business_unit=ENTG&amp;publisher=ENTG&amp;globalmerchant=self\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Self<\/a>, formerly known as Self Lender, offers a way to build credit for those with a non-existent or low credit score. Since its creation in 2015, Self has helped more than 2 million customers build their credit. Building from a low credit score can be tough. If your credit score is preventing you from achieving your business dreams, Self could help.&nbsp;<\/p>\n\n\n\n<h2 id=\"h-self-at-a-glance\">Self at a glance.<\/h2>\n\n\n\n<div class=\"wp-block-entrepreneur-guide-pros-cons section-pros-cons\"><div class=\"columns\">\n<ul><li>Build credit and savings all at once with Self<\/li><li>Choose from 4 plans to fit your budget and savings goals<\/li><li>No hard credit checks or hard inquiries on your credit<\/li><li>Your money stays secure in a bank-held certificate of deposit (CD)<\/li><li>Target the <a href=\"https:\/\/www.myfico.com\/credit-education\/whats-in-your-credit-score\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">#1 factor for credit score<\/a> &#8211; payment history<\/li><\/ul>\n\n\n\n<ul><li>Since it is technically a loan, you do pay non-refundable interest and fees<\/li><li>Credit score bumps can vary<\/li><li>Fees for paying with debit card as opposed to bank account<\/li><\/ul>\n<\/div><\/div>\n\n\n\n<h2 id=\"h-how-does-self-work-to-build-credit\">How does Self work to build credit?<\/h2>\n\n\n\n<p>With Self, you choose from four plans that determine your monthly payments. If you\u2019re approved for <a href=\"https:\/\/clicks.trx-hub.com\/xid\/stackcom_faf36_stackcom?q=https%3A%2F%2Fself-lender.3qcw.net%2FbaObYM&amp;p=selfcreditreview&amp;event_type=click&amp;business_unit=ENTG&amp;publisher=ENTG&amp;globalmerchant=self\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Self\u2019s Credit Builder Account<\/a>,<sup>1<\/sup> you\u2019ll be charged a $9 administrative fee<sup>2<\/sup> and the first payment the following month. As you make payments towards the loan, your funds are held in a Certificate of Deposit (CD). Your payments will stay the same every month, but if your circumstances change, you can pay off or close your account early for a withdrawal fee. This helps to avoid a delinquent account if you can no longer make payments.<\/p>\n\n\n\n<h2 id=\"h-credit-builder-plans\">Credit Builder Plans<\/h2>\n\n\n\n<p>Self has 4 different plans starting as low as<a href=\"https:\/\/docs.google.com\/document\/d\/1N2WRa_IG6m9WqVOvI57Tpjb7Kh1jQAva52FEcytY3OI\/edit#bookmark=id.ruhfdqrhh2sn\"> <\/a>$25 a month<sup>2<\/sup> to fit your budget and goals. After paying a one-time $9 administrative<a href=\"https:\/\/docs.google.com\/document\/d\/1N2WRa_IG6m9WqVOvI57Tpjb7Kh1jQAva52FEcytY3OI\/edit#bookmark=id.ruhfdqrhh2sn\"> <\/a>fee<sup>2<\/sup>, the next month you\u2019ll start contributing to your savings and building credit with all three credit bureaus. At the end of your loan term, you can unlock your savings, minus interest and fees.<\/p>\n\n\n\n<ul><li>$25 per month for 24 months with a payout of $520<\/li><li>$35 per month for 24 months with a payout of $724<\/li><li>$48 per month for 24 months with a payout of $992<\/li><li>$150 per month for 24 months with a payout of $3076<\/li><\/ul>\n\n\n\n<h2 id=\"h-how-much-can-self-build-your-credit-score\">How much can Self build your credit score?<\/h2>\n\n\n\n<p>Self uses an intuitive approach to help you build your credit and savings simultaneously. First, when checking eligibility for the Self Credit Builder Account<sup>1<\/sup>, Self doesn\u2019t do a hard inquiry that could negatively impact your credit score. <a href=\"http:\/\/www.myfico.com\/credit-education\/whats-in-your-credit-score\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">They focus on targeting the largest contributing credit score factor &#8211; payment history, which accounts for 35% of your score<\/a>. Self reports to three major credit bureaus, which could take anywhere from 1-3 months to start building your credit score. On average, customers that start with a credit score under 600 and make on-time payments see a *49 points increase<sup>3<\/sup> in their credit score. However, if you make late payments or neglect other accounts, you won\u2019t see full results and could even have negative impacts.<\/p>\n\n\n\n<p><strong><em>* <\/em><\/strong><em>Average outcome for customers who opened a 12 month Credit Builder Account in Q1 2021, starting VantageScore 3.0 under 600, who made on-time payments. Other factors, including activity with your other creditors, may impact results.&nbsp;<\/em><\/p>\n\n\n\n<h2 id=\"h-how-to-apply-for-self\">How to apply for Self<\/h2>\n\n\n\n<p><a href=\"https:\/\/clicks.trx-hub.com\/xid\/stackcom_faf36_stackcom?q=https%3A%2F%2Fself-lender.3qcw.net%2FbaObYM&amp;p=selfcreditreview&amp;event_type=click&amp;business_unit=ENTG&amp;publisher=ENTG&amp;globalmerchant=self\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Self<\/a> makes the loan application process easy even for those with no credit score. There\u2019s also no hard credit check or hard inquiry that would hurt your credit score. However, there are some basic requirements that you need to qualify:<\/p>\n\n\n\n<ul><li>You need a bank account, debit card, or prepaid card to make your payments<\/li><li>You must be at least 18 years old and be a permanent U.S. resident or U.S. citizen, but Self\u2019s credit builder is available in all 50 states<\/li><li>There is no hard credit inquiry or income restrictions<\/li><\/ul>\n\n\n\n<h2 id=\"h-bottom-line\">Bottom line.<\/h2>\n\n\n\n<p>Self is one of the best credit building tools of 2023, and for good reason. With monthly payments that fit your budget and features like payment automation, it\u2019s a clear winner for anyone wanting to build savings or build their credit score in the future.<\/p>\n\n\n\n<p>Whether you struggle to save or just want to build your credit score, Self is the best option to help you get back on track. With minimal fees and a reasonable APR, they offer the tools to help you build the future &amp; finances of your dreams.<\/p>\n\n\n\n<p>Looking to achieve financial freedom? Check out our other personal finance content, including our <a href=\"https:\/\/www.entrepreneur.com\/events\" target=\"_blank\" rel=\"noreferrer noopener\">webinars<\/a>, <a href=\"https:\/\/www.entrepreneur.com\/bookstore\" target=\"_blank\" rel=\"noreferrer noopener\">bookstore<\/a>, and <a href=\"https:\/\/www.entrepreneur.com\/video\" target=\"_blank\" rel=\"noreferrer noopener\">videos<\/a>.<\/p>\n\n\n<div class=\"share-slot none \"><div class=\"addtoany_shortcode\"><div class=\"a2a_kit a2a_kit_size_30 addtoany_list\" data-a2a-url=\"https:\/\/content-hub.stackcommerce.net\/guide\/credit-cards\/self-credit-builder-review-2023-build-credit-and-savings\" data-a2a-title=\"Self Credit Builder Review 2023: Build Credit and Savings\"><a class=\"a2a_button_copy_link\" href=\"https:\/\/www.addtoany.com\/add_to\/copy_link?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Copy Link\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_facebook\" href=\"https:\/\/www.addtoany.com\/add_to\/facebook?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_twitter\" href=\"https:\/\/www.addtoany.com\/add_to\/twitter?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Twitter\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_email\" href=\"https:\/\/www.addtoany.com\/add_to\/email?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Email\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_linkedin\" href=\"https:\/\/www.addtoany.com\/add_to\/linkedin?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"LinkedIn\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_button_facebook_messenger\" href=\"https:\/\/www.addtoany.com\/add_to\/facebook_messenger?linkurl=https%3A%2F%2Fcontent-hub.stackcommerce.net%2Fguide%2Fcredit-cards%2Fself-credit-builder-review-2023-build-credit-and-savings&amp;linkname=Self%20Credit%20Builder%20Review%202023%3A%20Build%20Credit%20and%20Savings\" title=\"Messenger\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><a class=\"a2a_dd addtoany_share_save addtoany_share\" href=\"https:\/\/www.addtoany.com\/share\"><\/a><\/div><\/div><\/div>\n\n\n<p><sup>1<\/sup><em>Credit Builder Accounts &amp; Certificates of Deposit made\/held by Lead Bank, Sunrise Banks, N.A., SouthState Bank, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.&nbsp;<\/em><\/p>\n\n\n\n<p><sup>2<\/sup><em>Sample loans: $25\/mo, 24 mos, $9 admin fee, 15.92% APR; $35\/mo, 24 mos, $9 admin fee, 15.97% APR; $48\/mo, 24 mos, $9 admin fee, 15.72% APR; $150\/mo, 24 mos, $9 admin fee, 15.88% APR. See self.inc\/pricing<\/em><\/p>\n\n\n\n<p><sup>3<\/sup><em>A.Average outcome for customers who opened a 12 month Credit Builder account in Q1 2021, starting VantageScore 3.0 under 600, who made on-time payments. Other factors, including activity with your other creditors, may impact results.<\/em><\/p>\n\n\n\n<p><em>B.Average outcome for customers who opened a 12 month Credit Builder account in Q1 2021, starting VantageScore 3.0 under 600, who made on-time payments. Other factors, including activity with your other creditors, may impact results. On-time payments does not mean full program completion and past performance based on this study does not guarantee future results. A credit score increase is not guaranteed.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Self, formerly known as Self Lender, offers a way to build credit for those with a non-existent or low credit score. Since its creation in 2015, Self has helped more than 2 million customers build their credit. Building from a low credit score can be tough. If your credit score is preventing you from achieving [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":3346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_jail":false,"hero_heading":false,"post_description":""},"categories":[13,7,9],"tags":[17],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.3 (Yoast SEO v20.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Self Credit Builder Review 2023: Build Credit and Savings | Entrepreneur Guide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/content-hub.stackcommerce.net\/guide\/credit-cards\/self-credit-builder-review-2023-build-credit-and-savings\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Self Credit Builder Review 2023: Build Credit and Savings | Entrepreneur Guide\" \/>\n<meta property=\"og:description\" content=\"Self, formerly known as Self Lender, offers a way to build credit for those with a non-existent or low credit score. 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