How It Works

HOW IT WORKS

To reach your financial goals, start by showing the world you can be trusted.

After you’re approved and your loan is funded, make sure to make each on-time payment according to your payment schedule. Over time, your payment history can be your greatest asset––but beware, missing a payment can also be your biggest liability!

Becoming a member allows you to choose from one of our many primary tradeline packages. Each tradeline package reports to the credit bureaus.
Accounts that will be reported are include but not limited to:

Utility bills, light bill, gas bill, landline phone bill, cable bill, internet bill, rent

Cell phone bill, sprint bill, t-mobile bill, boost mobile.

BlaccBankers credit builder loans are the type of loans that are created specifically to help people build credit. It’s actually like a reverse loan.

With most installment loans, like personal loans, you get the money up front to make big purchases. Then, you start paying the same amount (an installment) each month until its paid off.

Our credit builder loan is a type of installment loan, which means you pay the same amount of money each month. However, it’s unique and is really just used to build credit.

Rather than giving you some quick funds like a regular loan, credit builder loans simply give you an opportunity to establish a positive payment history on your credit reports. Making every payment on time shows that you can handle a credit account responsibly. This will likely have a positive effect on your credit (all other things being equal), making it easier to qualify for better credit cards and loan terms in the future.

In most cases, you can pay off a credit builder loan early. But this will likely put a dent in the amount of growth your credit scores will see as a result of the loan. In general, the longer you make on-time payments, the better it is for your scores.

HOW IT WORKS

Build strong credit

while you save.