The best credit-builder loans in Alaska are from Sunrise Banks because it offers low APRs, loan amounts from $300, and monthly credit-bureau reporting. Sunrise Banks will also put the money into an interest-bearing account, which could make up for the cost of your APR slightly. If you make on-time payments with a Sunrise Banks credit-builder loan, your credit score will increase.
Best Credit-Builder Loans in Alaska
Sunrise Banks offers credit-builder loans with an APR range value between 15% to 21% and term lengths of 12 to 18 months. Sunrise Banks does put your money in an interest-bearing account.
You can apply for a credit-builder loan from Sunrise Banks if you are at least 18 years old, have a bank account and have enough income to make monthly payments and are a member of Sunrise Banks.
Affinity Plus offers credit-builder loans with an APR range of 6% fixed rate and term lengths of 6, 12 or 18 months. Affinity Plus does put your money in an interest-bearing account.
You can apply for a credit-builder loan from Affinity Plus if you are at least 18 years old, have a Membership Savings account, have enough income to make monthly payments and are a member of Affinity Plus. To qualify for a membership, you must work for an organization listed by the credit union, be a student or alumnus from a university listed by the credit union, live in a city listed by the credit union or be a relative or roommate of a member.
Self offers credit-builder loans with an APR range of 16% fixed rate and term lengths of 12 to 24 months. Self does put your money in an interest-bearing account.
You can apply for a credit-builder loan from Self if you are at least 18 years old, have a bank account and have enough income to make monthly payments and are a member of Self.
You aren’t guaranteed to get all of your money back when your credit-builder loan term ends, due to interest payments and fees. But the improvement in your credit is worth it.
If you’re having a hard time getting approved for a credit-builder loan in Alaska, there are other options available to you. For example, you can check out WalletHub’s editors’ picks for the best credit cards for building credit, as well as the best personal loans for no credit or bad credit.
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