Image: Credit Karma Money logoBetter credit is on the horizon.
With Credit Builder,1 it’s easy to build credit while saving as little as $10 per paycheck.2 You could improve a low score by an average of 21 points in 4 days.3
Image: Group-6122Here’s how it works:
Image: VectorGet Started
Create your free Credit Karma Money™ Spend account.4
Then create a Credit Builder plan by choosing how much and how often you want to save. We’ll deposit the amount into a locked savings account for you.
Image: Vector-1Build Credit
Here’s the cool part: you simply repay as little as $10 per paycheck and we will report that payment to the three major credit bureaus.
For those of us with less-than-perfect credit, it could be a powerful credit building tool. In 4 days, you could improve a low score by an average of 21 points.
Image: Vector-2Grow Savings
Once you accumulate $500 in savings, those funds will be available to be deposited into your Credit Karma Money™ Spend account.
You’re eligible to apply if your TransUnion credit score is 619 or below at the time of application. We expect members with a credit score of 619 or under could see an increase in 4 days of activating the plan. Late payments can have a negative effect on your score, and other factors can impact it, including activity with your other credit accounts.
Ready to start building credit the easy way?
You could grow your credit by an average of 21 points in 4 days while saving as little as $10 per paycheck. All you need is a connected paycheck5 or a Qualifying Direct Deposit6 to get started.
Image: SpeedSave at your own pace
You can even pause your progress at any time until you are ready to continue saving.
Image: Free-3100% Free
Credit Builder has no account setup fees or interest fees.7
Image: Money-Shield-Score-DialIt won’t hurt your credit
No credit check. No messy paperwork. In just a couple of clicks, you can be on your way to increasing your credit score.
Image: Hero-Spot-DesktopStart taking your credit score to new heights!
1Credit Builder plan requires you to open a no-fee line of credit and a no-fee savings account, both provided by Cross River Bank, Member FDIC. Credit Builder is serviced by Credit Karma Credit Builder. You’re eligible to apply for Credit Builder if your TransUnion credit score is 619 or below at the time of application. A connected paycheck or QDD is required. For QDD, must be received in the current or prior month before application, or 90 days after application submission.
2You may enroll in the optional AutoSave Program, which allows you to automatically save as little as $10 per paycheck if you contribute biweekly or semimonthly and as little as $20 per paycheck if you contribute monthly. If you do not enroll in AutoSave, any contribution you make to Credit Builder may not be less than $10. 3Members with a TransUnion credit score of 619 or below who opened a Credit Builder plan and had it reported on their TransUnion report saw an average credit score increase of 21 points in 4 days of activating the plan. Late payments and other factors can have a negative impact on your score, including activity with your other credit accounts.
4Banking services for your Spend account is provided by MVB Bank, Inc, Member FDIC. Maximum balance and transfer limits apply per account. Credit Builder is not provided by MVB Bank.
5We partner with Pinwheel to securely connect you with thousands of payroll providers.
6A Qualifying Direct Deposit (“QDD”) is a single deposit into your Credit Karma Money Spend Account that is initiated from outside of the Credit Karma Money Platform. Transactions that are not QDD include: Promotional deposits into your Spend account made by Credit Karma; transfers from your Save account; or transfers initiated from the Credit Karma Money platform.
7There are no fees for the Credit Builder plan. For Credit Karma Money Spend: Third party fees may apply. Please see Spend Account Terms & Disclosures for more information.