Applying for a Self Credit Builder Loan is a simple process. You start by visiting the Self website, selecting your desired credit builder plan, and providing basic personal information such as your Social Security number, employment details, and bank account information. After submitting your application and agreeing to the loan terms, you can begin making monthly payments to build credit. The entire process is designed to be accessible and helps users improve their credit over time.
How to Apply for a Self Loan
Visit Website. Go to the Self website.
Click Start. Select the "Start Building Today" button.
Choose Loan. Select loan amount and term.
Personal Info. Enter your name, email, and phone.
Create Password. Set a password for your account.
Mailing Info. Provide your address and Social Security number.
Employment Info. Enter job and income details.
Confirm Age. Agree to terms and confirm you're 18+.
Conditions
Small Builder plan requires a $25 monthly payment for 24 months, with a total payment of $600 and a final return of $511, resulting in a cost of $89. The interest rate is 15.92%.
Medium Builder plan involves a $35 monthly payment, totaling $840, with a return of $717 and a final cost of $123, at an interest rate of 15.69%.
Large Builder plan requires $48 per month, leading to a total of $1152 with a return of $985, resulting in a final cost of $167 and an interest rate of 15.51%.
X-Large Builder plan includes a $150 monthly payment, totaling $3600, with a return of $3069, leaving a final cost of $531 and an interest rate of 15.82%. These plans provide flexibility for users aiming to build credit while managing their finances.
Requirements
Citizenship. Must be a U.S. citizen, permanent resident, or non-resident alien.
Age. Must be at least 18 years old.
Social Security Number. Must have a valid Social Security number.
Bank Account. Must have a valid bank account.
Reasons for Rejection
Insufficient Income. If your annual income is below the required minimum, your application may be rejected due to an inability to meet the repayment obligations.
Lack Of Required Documentation. Failure to provide necessary documents, such as a copy of your paycheck stub, can result in your application being denied.
No Bank Account Or Credit Card. Not having a bank account or credit card as an alternative payment method can lead to rejection since it is a mandatory requirement.
Employment Verification Issues. Inaccurate or unverifiable employment information, such as discrepancies in your employer's details or job title, can cause your application to be rejected.
Age Restriction. Applicants under the age of 18 are not eligible for the program, and any application from individuals below this age will be automatically rejected.
Self works with Lead Bank, Sunrise Banks, and SouthState Bank. These financial institutions are Member FDIC and Equal Housing Lender.
How long does it take to get money from Self?
When your account is finished, it can take up to three weeks for the money to arrive, depending on the payment method you've chosen.
How long does it take for Self to report to credit bureaus?
Self reports to the three credit bureaus for each of your payments. It waits for 30 days in case you made a late payment to report. So, it generally takes a month for the company to report. You will be able to see the report on your credit in one or two months.
