Before recommending any credit-building strategies, we analyze your credit file to identify areas that need improvement. We focus on enhancing key factors that make up your credit score:

Additionally, we assess fundability by examining factors like positive payment history, low utilization, credit length, credit mix, and high limits. This thorough analysis ensures we target the right areas to boost your credit profile effectively.

How It Works: Credit Strong plans function as a savings account while acting as a secured installment loan. The bank provides an installment loan and reports it to all three bureaus. The loan amount is placed in a savings account in your name.

They also have a revolv plan as well. Revolv Plans functions as a Revolving account but they also give you an upgrade to savings account as well, $1,000 revolving credit immediately added to your credit file. Every payment builds payment history while adding to your savings. Make 3 on-time payments in a row and they increase your credit limit from $1000, up to $3,000.

Improve, Optimize, and Enhance your credit profile with Credit Strong. You can also Schedule a meeting with us to learn more and get any and all questions you may have. 

So Each month you make a single, fixed monthly payment of principal and interest on the loan. But you’re really making payments to the savings accounts, which can be canceled at any time. The principal portion of the payment is credited towards the savings account and the interest portion goes to them.

An offshoot of Credit strong is Magnum Credit Builder. Magnum Plans also functions as a savings account while acting as a secured installment loan. Their Bank gives you an installment loan, and reports that full amount to all 3 bureaus. With the Loan they “give you”, they place the “borrowed funds” in a savings account in your name. 

Strategy: For CSMAX plans, Client pays the monthly payment(s) until the account reports on their file + 1-2 months. Could take 1-2 months to report, and we would minimum 3 months of payments reporting on average. Once it does, we ask the client to cancel. There is NO prepayment penalty for “paying off” or canceling your subscription. The kicker is, now you have that installment loan paid reporting on your file. 

After cancellation, Client will receive back a portion of the money from the savings account, the principal. So around 70-90%. Credit Strong will keep the interest portion. For the Magnum plan, they keep 90-95%.

How It Works: BoomPay reports current and past rent payments by adding rent details and connecting the bank account that pays the rent. Build credit with your regular rent payments. $10 enrollment fee.

How It Works: RentReporters verifies and reports your rent payments. This service helps you build credit using your existing rental history.

We don’t. But we’ve added it here as a resource.

We prefer BoomPay because it adds & enhances the following:

This is by far one of the coolest cards on the market. This credit builder reports limits up to $1,500. It shows on your credit report as a credit card, but operates and functions as a credit card but functions as a debit card. You can only spend the amount you deposited in the account. It’s literally a debit card. There’s also a ton of additional features that you can use 100% complimentary, like their stealth card, which allows you to virtually regenerate a new “Credit card” number on demand. To be clear, credit builders do not negatively affect credit score or file- they only build positive history, payments, and usage. 

How It Works: Credit Ai reports as a revolving credit card but functions as a debit card. It only allows spending the deposited amount.

This credit builder reports up to 25k for Prime members. Using utilities or streaming service subscriptions, and reporting them to the credit bureaus. You must connect a bank account that you normally use to pay those bills. The more bills (and larger bills), your reported limit increases. Keep in mind you must have the capital for these bills in your linked bank account

How It Works: StellarFi reports utilities and subscription payments to credit bureaus. Connect your bank account to track and report these payments.

How It Works: Kikoff offers a $750 line of credit for financing purchases with monthly payments, reported to Equifax and Experian.

This credit builder works best when the client has cash/ constant income. It reports as a Loan but acts as a savings account. The amount they can pay x 12 =  (yearly) would be the amount “loaned”. For example:The client would have a Loan reporting of $240 on your file while paying back the loan in $20/mo payments. 

After the 12 months, they’re given the $240 back, hence acting as a savings account. Loqbox is free If the client agrees to put the savings into a new savings account with one of their partner banks. Can opt for their add-on and unlock into an existing account for $40.

How It Works: Similar to Credit Strong, Loqbox reports as a loan while acting as a savings account. After 12 months, the saved amount is returned to you.

How It Works: Ava reports a credit limit of up to $2,500 for financing purchases with no interest or fees.