Updated on July 23, 2022
Those with poor or no credit histories can use the credit builder loans offered by Credit Strong to rebuild their credit and avoid drowning in a sea of debt.
This site’s Credit Strong evaluations can tell you more about the product’s functionality and the advantages it offers.
What Topics Will We Discuss?
Credit Strong reviews provide loans ranging from $1000 to $18,000 with interest rates ranging from 5.85 percent to 14.89 percent.
The applicant must be at least 18 years old and a US citizen, however there is no minimum credit score required.
This is the official website where you can submit an application for a loan. Loan > Apply for a Loan Choose a loan > Give specifics about the situation. Approval is required.
The List Goes On…
Credit Strong Reviews – In a Nutshell
People with no or bad credit can rely on Credit Strong to get them back on their feet. Your savings and financial information are protected because it is FDIC-accredited.
For the past four years, it has been included in the coveted “Inc. 5000 List” of America’s fastest-growing private firms.
Since its inception, Credit Strong has grown to meet the needs of a wide range of customers, including those who had difficulty managing their finances and accounts. A variety of secure lending choices and a few account options are available to them.
Borrowers can get loans ranging from $1000 to $18,000 with interest rates ranging from 5.83% to 14.89%.
Administration Fees range from $8.95 to $25 for a loan term of 12 months to 10 years.
No credit check required; there is no termination fee.
Do you report your payments to the credit bureaus?
Insured by the Federal Deposit Insurance Corporation
Count on Positive Reviews and Feature Highlights.
Credit Strong has made a reputation for itself in the market thanks to its impressive features and overwhelmingly excellent feedback from users around the United States. Here are some of the most important pros and downsides of this loan program that you should be aware of before making a final decision.
Once a month, you can use this free service to check your FICO credit score.
Knowing your present financial situation allows you to keep tabs on whether or not your credit score is rising.
Unlike many other credit card issuers, Credit Strong never runs a credit check on you.
You can take out larger loans with Credit Strong and pay them back over a longer period of time.
It has the potential to do more for your credit score improvement than smaller loans ever could.
Although your savings are locked away, you can terminate or prepay the loan with no penalty if you find yourself in a position where you require access to your money.
You’ll miss out on the accruing interest if you use Credit Strong.
Loans for persons with bad credit are often more expensive than those for people with good credit.
Even while Credit Strong’s loans are substantially larger, they nevertheless come with a high price tag.
For example, as previously noted, a “Subscribe 1000” plan binds you to a 13.50 percent interest rate for nearly ten years.
Strong Credit Eligibility Requirements
To become a member of Credit Strong, you must first meet a number of criteria. It’s not a lot of money; only a few necessities are necessary, and there is no minimum income requirement.
It would be advantageous if you were a lawful permanent resident of the United States.
A person must be at least eighteen years old to participate.
A valid social security number or taxpayer identification number is required to open an account with a financial institution.
You will need to provide personal contact information, including your phone number and email address.
Overview of the Credit Application Process in Brief
Credit Strong’s application process is a cinch to complete. Because the method is simple, you won’t have to spend a lot of time on it.
Go to the official website for more information.
To begin the application process, use the Apply Now button.
You’ll see a product selector screen that can help you narrow down your options based on your specific needs.
Credit Strong performs a quick background check once you submit your application by accessing a database of your prior bank information.
It would take some time for the authority to come to a decision on whether or not to accept you.
Upon selection, you can begin making payments toward increasing your credit right now.
Attention! Background checks conducted by Credit Strong do not take your credit score into account.
To Avoid: Credit-Strong Fees
It offers a variety of programs, each of which has varying fees and interest rates.
Credit Strong’s monthly fees range from $15 to $110, depending on the plan you choose.
The cost of administering the plan is calculated as follows:
Subscribers who pay $1,500 a year save $13.50%
Get 2,500 subscriptions for $15, or 7.75 percent of an annual income.
For $8.95, you can build and save 1,000 dollars for 10 months.
It costs $8.95 a month to build and save 1,000.
2,000$8.9514.43 percent 24 months Build & Save
MAGNUM 5,000 $25 5.92 percent ten-year term
MAGNUM $10,000 $25.86% 10 Years
MAGNUM In a decade, the rate of inflation will be 5.83 percent.
There is no penalty price if you cancel at any time.
As a result, we strongly urge that you first link your checking account to Credit Strong before signing up for the service.
A 14-day grace period is also available, but if you miss it, you’ll be hit with a late fee.
Describe the Credit Builder Loan Process
Credit Strong’s credit builder loans are a great solution for those who have been turned down by other lenders because of their poor credit history. Rather than providing you with a standard personal loan, Credit Strong deposits the borrowed monies into your savings account.
As long as the lent monies are transferred into an eligible savings account, locking the account is a good thing. When you pay the whole amount, it is unlocked. Installment loans are a good way to develop credit.
Until you pay off the debt in full, you pay a predetermined monthly payment and accrue interest on it.
Equifax, Experian and TransUnion are all three main credit bureaus that disclose your loan payment history to earn interest on the balance in your savings account.
The lock on your savings account is removed as soon as the loan is paid in full, so you can immediately access the funds in your account.
Is it possible to raise your credit score using Credit Strong’s solutions?
Your credit score may take some time to improve if your credit history dates back more than ten years.
Dedicated to helping you improve your credit rating, Credit Strong is always there for you.
Credit scores might quickly rise if your credit report has few or no errors.
When and how much your credit scores improve is impossible to predict in advance, but being consistent and timely with your payments can help you build your credit with Credit Strong.
The End of the Story
Credit Strong is a good choice if you want to rebuild your credit. Nonetheless, it’s important to learn about all the pricing options before making any judgments.
Credit Strong may be worth your money if you want to raise your credit score and pay off your debts without incurring interest charges.
To What Extent Do Customers Ask About Credit Strong Reviews?
Is it safe to utilize Credit Strong?
Yes. Using this site is 100% risk free. One of the most trustworthy FDIC-insured banks, it is also subject to government controls.
Is a credit check from Credit Strong going to harm my credit?
Credit Strong doesn’t make any hard inquiries, thus it won’t have any effect on your credit report. You don’t even have to have a stellar GPA to apply here.
Is the interest rate on Credit Strong too high?
Definitely not. When compared to other loan choices on the market, these have extremely low interest rates.
She was known as Hazel Lewis.
Hazel is my name. In my spare time, I enjoy composing articles about technology, software, and more. Football and traveling are two of my favorite pastimes, as well.