Here is a list of credit builder accounts offered by one of our bank partners, Sunrise Banks, N.A., Lead Bank or Atlantic Capital Bank, NA:

Monthly paymentHow many months?Amount1Activation cost2Loan interest rateAPR3
$25/month24 months$525$913.16%14.92%
$48/month12 months$545$1510.34%15.65%
$89/month12 months$1000$1212.33%14.62%
$150/month12 months$1700$1210.69%12.03%

So, in simple terms, what does the credit builder account actually cost?
Monthly paymentHow many months?Activation cost2Your total cost5You get at end6
$25/month24 months$9$609$525 plus CD interest
$48/month12 months$15$591$545 plus CD interest
$89/month12 months$12$1080$1000 plus CD interest
$150/month12 months$12$1812$1700 plus CD interest
1 By “amount”, we mean the amount of the loan proceeds that are placed into the certificate of deposit (CD) account. The CD earns interest at a lower rate than what you pay on the loan

2By "activation cost," we mean a non-refundable administrative fee to open the credit builder account. In other words, you pay it one-time to open the account. 

3 APR is annual percentage rate

5 By "your total cost," we mean: if you successfully pay on-time during the course of the term, and you include your one-time non-refundable administrative fee ("activation fee")

6 By “you get at the end”, we mean if you make on-time payments, then it’s the amount of money that you get at the end of your term. This amount does not include interest that you earn on the CD, which is less than the interest you pay on the loan.

Pricing Details: