If you are looking to rebuild your credit chances are you have ran across a Self lender (Self) ad by now.
For those who are skeptical if self really works, I will give you my honest review of the program.
First let’s discuss what exactly is Self?
Self is a program designed to help you establish credit or rebuild your credit,
Self lender plans vary in length and payment amounts.
How does Self Lender Work?
The self lender program helps you build credit while saving money.
The way it works is, you apply for a self lender account. Once approved you will choose the dollar amount, and the loan term that fits your budget.
Once you start making your monthly payments on time, the payments are reported to the credit bureau.
The monthly payment that is paid to Self is placed in a Credit Builder Account, which you will receive once the loan is paid in full.
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For me, this was a great option because I was able to save money, as well as build my credit.
I’ve used Self twice, once for myself and once for my husband.
My credit score increased by 46 points within the first 3 months of opening my account.
Click Here to Sign Up and Start Rebuilding Your Credit
Self Lender Plans
Self has several plans that you can choose from.
|$25.00 plan for 24 months. After 24 months you have established credit and receive $520.00|
|$35.00 per month for 24 months. After 24 months you have established credit and will receive $724.00|
|$48.00 per month for 12 months. After 12 months you have established credit and will receive $539.00|
|$150 per month for 12 months. After 12 months you have established credit and will receive $1663.00|
I picked the $48.00 plan because that is what worked for my budget. However, I decided to pay my loan off early.
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Make sure when choosing your plan that it works for your budget because Self lender does report late payments.
How Does Self Early Withdrawal Work?
As I said, I paid my loan off early. I was not penalized for paying the loan off early and was sent my $539.00 within 7 business days.
My credit score did not drop after I completed the loan, my score actually increased by another 32 points.
I read a few self lender reviews on Reddit, which were mostly good. I have referred several people to Self, and I could not have been happier with my results.