Self Credit Builder: How It Works
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

at Self
How Self — formerly Self Lender — works
How to qualify for a credit-builder loan with Self
- Be at least 18 years old.
- Be a permanent U.S. resident.
- Have a Social Security number.
- Have either a bank account or debit card; a prepaid card is OK.
Self fees and penalties
Self secured credit card
Credit-builder loans vs. secured cards
- You don’t need money upfront to get the loan. With a secured card, you typically have to pay a deposit upfront, and that amount is generally your credit limit.
- You cannot access the money on deposit until the loan is paid off. With a secured card, you can use up to your credit limit anytime — though doing so will increase your credit utilization and hurt your credit until the balance is low again.
Disclosure from Self
Sample product: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. See self.inc/pricing. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.
Article sources
- 1. National Credit Union Administration. Payday Alternative Loans Final Rule. Accessed Apr 17, 2025.
- 2. Consumer Financial Protection Bureau. What Is a Debt Relief Program and How Do I Know if I Should Use One?. Accessed Jan 16, 2025.
- 3. Consumer Financial Protection Bureau. Truth in Lending Act (TILA) examination procedures. Accessed May 2, 2025.
- 4. Internal Revenue Service. Canceled debt – Is it taxable or not?. Accessed Apr 1, 2025.
- 5. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 17, 2025.
- 6. Center for Responsible Lending. Payday and Other Small Dollar Loans. Accessed May 2, 2025.
- 7. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 24, 2025.
- 5. Consumer Financial Protection Bureau. What is a payday loan?. Accessed May 2, 2025.
- 9. Angi.com. How Much Does It Cost to Make My Home Accessible?. Accessed Nov 12, 2024.
- 10. Internal Revenue Service. Home energy tax credits. Accessed Mar 6, 2024.
- 11. Solar Energy Industries Association. Solar Power Purchase Agreements. Accessed Mar 7, 2024.
- 7. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 27, 2025.
- 13. SolarReviews.com. Homes with Solar Sell for 6.8% More [2024 Zillow Data Study]. Accessed Dec 10, 2024.
- 5. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 4, 2025.
- 15. The Pew Charitable Trusts. Payday Loans Cost 4 Times More in States With Few Consumer Protections. Accessed Apr 4, 2025.
- 16. Federal Reserve. Military Lending Act. Accessed Apr 4, 2025.
- 17. Internal Revenue Service. Retirement Topics - Plan Loans. Accessed Apr 8, 2025.
- 18. National Bureau of Economic Research. Prodigals and Projecture: An Economic History of Usury Laws in the United States from Colonial Times to 1900. Accessed May 2, 2025.
- 19. Federal Register. Federal Interest Rate Authority: A Rule by the Federal Deposit Insurance Corporation on 07/22/2020. Accessed May 2, 2025.
- 20. Federal Reserve Bank of St. Louis. Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan. Accessed May 23, 2025.
- 21. Experian and Oliver Wyman. Financial Inclusion and Access to Credit. Accessed Jan 23, 2025.
- 22. National Credit Union Administration. Credit Union and Bank Rates 2024 Q4. Accessed May 23, 2025.
- 16. Federal Reserve. Military Lending Act. Accessed May 2, 2025.
- 24. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Installment Loans. Accessed May 2, 2025.
- 25. Internal Revenue Service. Retirement topics: Exceptions to tax on early distributions. Accessed Apr 8, 2025.
- 26. Administrative Office of the U.S. Courts. Bankruptcy Basics. Accessed Apr 8, 2025.
- 27. Consumer Financial Protection Bureau. What are the costs and fees for a payday loan?. Accessed Jun 6, 2025.
- 28. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Lending. Accessed Jun 6, 2025.
More like this