Build your credit without a credit card. The Credit Builder Account is a loan that can help you build credit and savings. The money from your loan is deposited into a secured savings account. As you pay down your loan, each payment increases your savings. Your payment history is reported to the credit bureaus, which can help you build credit.
Targeting/Knockout Criteria (Not to be displayed on websites.):
- Min. age 18
- All credit scores are welcome to apply.
- Target Profile: No/thin credit profile. Ideally, anything below 600-650 (including no score).
- No checking required to sign up. However, it is required in order to use the product and make payments.
- User needs to provide proof of income of at least $1,000 per year ($84/month).
- States Allowed: AK, CA, CO, CT, GA, IL, IN, KS, KY, MI, MN, MO, NC, NY, PA, TN, VA, WI.
Commissions are payable for any consumer who submits their application, gets approved and passes KYC/OFAC/Fraud. At that point, the loan is "created." Only thing the applicant will need to do is sign-up and get approved, which just involves submitting the simple application.
If you are interested in marketing this program, please contact us.