How do I cancel my credit builder account?
If an unforeseen circumstance, such as a job loss or death of a family member, has caused you to be unable to make your next monthly payment, then you have options.Our bank partner requires two forms of confirmation to cancel a credit builder account:
- Log into your self lender dashboard
- Click on the "Contact" option
- Send us a message that says "CANCEL my account"
Next, please choose one of the following three methods to confirm your cancellation:
- Send an email to email@example.com stating that you would like to cancel your account with a short explanation of your reason for cancellation; or
- Send a text message from the phone number listed in your account, to 877-883-0999, with the phrase “YES, CANCEL”; or
- Call 877-883-0999 during normal business hours, and to confirm via phone by speaking directly to a customer service representative
You have two ways to close your credit builder account before the end of the 12-month term. The first option is to pay the full remainder of the loan balance. Please note that the certificate of deposit (“CD”) account funds will mature and be available 12 months after the original credit builder account start date. In order to withdraw the funds early from the CD, you will need to pay an “early withdrawal fee” equivalent to 90 days of CD interest. For example:
- $550 credit builder account will incur a fee of $0.14
- $1,100 credit builder account will incur a fee of $0.27
- $2,200 credit builder account will incur a fee of $0.54