Credit Building Loans

Credit Building Loans

A credit-builder loan holds the amount borrowed in a bank account while you make payments, building credit. With a credit-builder loan, the “borrower” actually pays the lender in monthly installments and then receives the money in a savings account at the end. During the process, the lender reports the monthly payments to the credit bureaus, which builds the borrower’s credit history.

So, you can think of a credit-builder loan as a series of savings-account deposits that help improve your credit standing. The difference is you will owe the lender interest, and you may need to pay a fee to open an account. Nevertheless, a credit-builder loan can be a great choice for people with bad credit or no credit history.

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Offered by: Austin Capital Bank


A Credit Strong account is the fusion of a secured consumer installment loan and a savings account. During the life of your Credit Strong account you build both credit history and savings.


$15/month to $198/month

Reports to

TransUnion, Equifax & Experian

Credit Score

FICO Score 8


  • Open an Account in Minutes - When you open your Credit Strong account, our bank instantly gives you a loan and places the loan funds in a FDIC insured savings account in your name. The savings account funds are locked to secure the loan.

  • Make On-Time Payments - Make small monthly payments of principal and interest on your loan. The principal is a payment to yourself and is credited towards the lock on your savings – the interest is what we earn for providing the service.

  • Track Your Progress - We provide a free FICO® Score monthly so you can track your progress. 90% of top lenders use FICO Scores when making lending decisions.

  • Unlock Your Savings - When your loan is repaid in full, the lock is removed from your savings account. You’ve built both credit and savings.

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