Grace Enfield, Content Writer
@grace_enfield
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.
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