Building Credit and Savings with Self Financial
Self Financial, Inc. (formerly known as Self Lender) offers innovative solutions to help you improve your financial health. Let’s explore how Self can benefit you financially:
1. Credit Builder Account
- How It Works: Self’s Credit Builder Account is designed to help you build or repair your credit. Here’s how it works:
- You open a Credit Builder Account with Self.
- You make monthly payments into the account.
- Self reports your payment history to all three major credit bureaus (Experian, Equifax, and TransUnion).
- Over time, your credit score improves as you demonstrate responsible payment behavior.
- Benefits:
- No Hard Credit Check: Self doesn’t perform a hard credit inquiry when you open an account.
- Reports to All Three Bureaus: Your positive payment history is reported to all major credit bureaus.
- Credit Score Increase: On-time payments can lead to a credit score increase.
2. Secured Self Visa® Credit Card
- How It Works: Self offers a secured credit card that’s linked to your Credit Builder Account. Here’s why it’s beneficial:
- You use the secured card for everyday expenses.
- Your payment activity is reported to the credit bureaus.
- Responsible card usage further boosts your credit score.
3. Financial Education and Support
- Self’s Resources: Access educational content, financial tips, and tools to improve your financial literacy.
- Customer Support: Self provides customer support via phone and chat.
4. Success Stories
- Real Results: Self’s approach has helped customers improve their credit scores and achieve financial goals.
- Average Outcome: Customers who opened a 12-month Credit Builder Account in Q1 2021 saw positive results, even if they started with a VantageScore 3.0 under 6001.
Remember, building credit takes time, but with Self’s tools and commitment, you can take control of your financial future.
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