Credit Builder Loan
Unfortunately, most of us don’t grow up learning a lot about credit – period. It’s not uncommon to learn too late the value of earning and keeping a good credit score.
In conjunction with our Credit Check-Up service, BenchSmart also offers just the right loan to help establish good credit or rebuild poor credit. Our Credit Builder loan is a savings-secured loan, and every member qualifies. Here’s how it works:
At the start, the proceeds of the loan ($250-$500) are placed into a restricted savings account. Then over a period of twelve months, your successful payment history will be reported to the credit bureaus, which can positively impact your credit score.
The funds on deposit will become available to you at the end of the 12 month period. In the end, you have built a great savings plan and improved your credit score all at the same time!