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Credit Rebuilder Loan

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JennaD075
Contributor

Credit Rebuilder Loan

Does anyone out there know of a credit rebuilder loan in Washington State? I saw another poster talk about these but they were for people in Texas. 

 

It was a loan where they put the balance of the loan in a savings account for you and after you have paid off the balance you get the money of the loan.  The one she was talking about doesn't do a HP. 

 

I have not been able to find one for my area and was wondering if anyone has any info on this. 

 

Thank you!

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Credit Rebuilder Loan

Try Secured Loan through SDFCU, as long as you are not on chex systems you can open an account with them. Take 300 dollars and place it in the account to secure the loan. It only take a couple of days to go through and then you'll have the loan money back to use however you need it. Its secured even though you didn't really have to tie up any money. The money thats on deposit will be freed up with each payment. Once you make a couple of payments, you can set it up to auto-pay from the amount thats been released. 

Message 2 of 7
Imperfectfuture
Super Contributor

Re: Credit Rebuilder Loan

The minimum for sdfcu is 500. I have one with Alaska USA. It's for 48 months, and deposit is 500. They are in WA state,
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Message 3 of 7
Anonymous
Not applicable

Re: Credit Rebuilder Loan

Yeah, you're right - I was thinking of the Secured credit card which is like $250 minimum.

Message 4 of 7
CH-7-Mission-Accomplished
Valued Contributor

Re: Credit Rebuilder Loan

BECU does them.  No credit check.  3% interest.  48 mnths max.

Message 5 of 7
Anonymous
Not applicable

Re: Credit Rebuilder Loan

Please explain how these work never heard of these credit building loans
Message 6 of 7
JennaD075
Contributor

Re: Credit Rebuilder Loan

Thank you all for your help!

 

Message 7 of 7
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