08-06-2012 04:43 PM
08-06-2012 05:03 PM
This might be a dumb question, but is there any kind of penalty for "paying of early?" I know you said minimum 24 months, but just as paying off an unsecured loan early will save you interest, will paying off a secured loan COST you interest earned?
Pay ealry but make sure u have at least 6 months of payment history unless u defeat the purpose of what your trying to do.
08-06-2012 05:32 PM
The only thing about the credit builder is it is a CD and generally CD's have a minimum of 24 months regardless of what you are trying to do. I would call the bank.
08-12-2012 06:42 AM
I would love information on where to get a cd as a credit builder.
08-12-2012 12:12 PM
Spire Credit Union also offers this and, of course, it is with a credit union!
08-12-2012 02:51 PM
M&I/BMO Bank has the credit builder that was mentioned but it is limited to certain states. I understand Spire Credit Union offers something similiar but have not recearched.
08-12-2012 02:58 PM
Researched M&I/BMO they are located in AZ,FL,IN,MO,WI,IL, and spire is out of Minnisota but they may allow you to do the account even if you are out of state.. I know M&I you have to reside within one of their states.
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