What are the best credit-builder loans with no credit check? This question is about Credit-Builder Loans Guide

What are the best credit-builder loans with no credit check?

Answer Question Report Abuse

This question is about Credit-Builder Loans Guide

Grace Enfield, Content Writer

@grace_enfield • 12/06/21 This answer was first published on 12/06/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

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 Check

Self

Self offers four credit-builder loan plans to choose from. They have monthly payments as low as $25, term lengths from 12 to 24 months, a typical APR of around 16%, and an administration fee of $9. Additionally, a credit-builder loan from Self can help you get access to the Self Visa Credit Card in as little as three months.

MoneyLion

MoneyLion offers a service called Credit-Builder Plus. This service has credit-builder loans of up to $1,000 with a payment timeline of 12 months and an APR range of 5.99% to 29.99%. Unlike other services, MoneyLion offers a portion of your loan funds right away. There is a $19.99 monthly membership fee for Credit-Builder Plus eligibility, though.

If a credit-builder loan isn't right for you, there are other options available. For example, you can compare the best credit cards for building credit as well as personal loans with no credit check on WalletHub.

Answer Question

Will a credit builder loan hurt my credit?

How can I build my credit if I have no credit?

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.