Grace Enfield, Content Writer
@grace_enfield
The best credit-builder loans in Florida are from Alive Credit Union because it offers low APRs, loan amounts from $2,000 and monthly credit-bureau reporting. Alive Credit Union 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 an Alive Credit Union credit-builder loan, your credit score will increase.
Best Credit-Builder Loans in Florida
Alive Credit Union
Alive Credit Union offers credit-builder loans with an APR of 12% and term lengths of 12 months. Alive Credit Union does put your money in an interest-bearing account.
You can apply for a credit-builder loan from Alive Credit Union if you are at least 18 years old, have a bank account, have enough income to make monthly payments and are a member of Alive Credit Union. To qualify for a membership, you must be living or working in Duval, Clay, Nassau, Baker or St. Johns Counties, affiliated with or working in healthcare services, real estate professional.
Self
Self offers credit-builder loans with an APR of about 16% 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.
Sunrise Banks
Sunrise Banks offers credit-builder loans with an APR range of 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, have enough income to make monthly payments.
Final Thoughts
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.
2022 Best Personal Loans in Florida
Compare OffersPeople also ask
What are the best credit unions for credit-builder loans?
The best credit unions for credit-builder loans are Alltru Credit Union and Digital Federal Credit Union because of their low APRs and affordable monthly payments. Alltru offers 50% of all the interest paid on the loan back, while an account through Digital Federal earns dividends. You must be a member … read full answer
show less
What are the best credit-builder loans with no credit check?
The best credit-builder loans with no credit check are from Self and MoneyLion. Both companies perform only a soft pull of your credit to determine eligibility, which will not damage your credit score or affect it in any way. There is no hard inquiry.
Best Credit-Builder Loans with No Credit … read full answer
show less
Did we answer your question?