You don’t need good credit — or any credit — to get Credit Builder Prime.
How to build credit with a SeedFi Savings Account
SeedFi adds money to your locked savings account1 every pay period
This is a small interest-free loan. You select the amount we add, as little as $10.
You repay SeedFi for the savings we gave you in Step 1
Pay us back the next time you get paid. These payments help you build your credit! 2
Repeat and access your $500
Every time you save $500, we give you access to it. Repeat these steps and keep your plan active to maximize impact.
The best part — These steps can happen automatically.
Want more details?
Here's an in-depth explanation!
When you sign up
Commit to saving at least $10 every time you get paid. We open up two SeedFi Savings Accounts and a SeedFi Line of Credit in your name and encourage you to enroll in our AutoSave program3.
Before each of your paychecks
We fund one of your SeedFi Savings Account with money borrowed from your line of credit. This creates a short-term, interest-free debt equal to the amount you committed to save from each paycheck.
Each time you get paid
We use your savings commitment to pay back the money you borrowed from your line of credit. Now the money is in your savings account, and your line of credit is paid off.
We report your line of credit account, its balance and status, and your payments to all three credit bureaus.
Everytime you've successfully saved $500
We give you access to the $500 you saved.
This can all happen automatically with our optional AutoSave program so you don’t have to worry about it.
Credit score impact
average increase after making on-time payments on all your credit accounts for 6 months.4
Credit Builder Prime targets the most important factors5that contribute to your credit score.
Why Credit Builder Prime is the best
No interest or fees
That's right! You keep 100% of the money you save. No interest, no fees, no hidden costs of any kind. Why? Because we think you'll like us enough to use our other financial products when you need them.
Keep your bank account
Unlike other credit builders, you don't have to switch your checking account or your direct deposit. We’ll give you a SeedFi Savings Account to use with your plan.
No up-front deposit
Unlike secured cards, which typically need a deposit of hundreds of dollars, our Credit Builder Prime doesn’t require an up-front deposit.
Real benefit through saving
When you use Credit Builder Prime, you generate meaningful savings that you didn't have before. That's savings to finally have an emergency fund and peace of mind. That's savings to make a down payment on a dependable car or a nicer place to live. And, it's savings to kickstart your stronger financial future.