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Credit Builder
Credit isn't just a number--it's your money responsibility score. It can impact where you live, what you drive, and even job opportunities. If you are just starting out with no credit or have a poor credit rating, we can help with our Credit Builder Program.
Credit Builder is a short-term loan offered to individuals who are either trying to establish good credit or repair poor credit. It's easy to set up and get started.
Why do I need credit?
Credit acts as a reputation report. Good credit gives you access to better rates on loans for homes and cars, it influences your ability to rent, and can even affect job opportunities.
What if my credit score is low?
You can help you credit by:
- Paying bills on time
- Not opening too many credit accounts
- Keeping old credit accounts open
- Checking your credit score often
- Using Altabank's Credit Builder program
Who should use Credit Builder?
Credit Builder is designed for anyone who wants or needs to establish good credit or might have a poor credit rating. A good credit score is considered to be 700 or above.
HOW IT WORKS
- The bank makes a loan to the individual.
- Loan proceeds are deposited into a savings account under the borrower's name and available upon full repayment of the loan.
- Take advantage of Altabank's Financial Foundations program to receive a reduced rate on your loan.