Self Lender offers an alternative to secured credit cards as a way to build credit while accruing personal savings. By using a Credit Builder loan, which uses the funds from a small loan to open a certificate of deposit in your name, Self Lender is able to have your monthly payments reported to the credit bureaus helping you build credit history. At the end of the 12- or 24-month term, the money in the CD is yours, along with your new credit score. There’s no credit requirement or security deposit needed to get approved.
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