CreditStrong credit builder loans: 2025 review

CreditStrong is best for building credit

CreditStrong offers a variety of credit-building products, including personal credit-building loans, business credit-building loans and revolving credit accounts. Unlike traditional personal loans, you don't gain access to installment loan funds right away. Instead, each payment you make is held inside an Austin Capital Bank savings account. Once you finish paying the loan, you will receive your loan funds minus any outstanding interest and fees.

Payments are reported to all three credit bureaus — Equifax, Experian and TransUnion. As a result, on-time payments should improve your credit scores and build a positive payment history.

CreditStrong personal loan purposes

CreditStrong's personal credit-builder loans are divided into two products: Instal and CS Max. It also offers a revolving credit line, Revolv, although the funding process is different from other personal lines of credit.

Instal

The Instal product is a credit-builder loan that allows you to borrow between $1,000 and $1,100. Terms range from 24 to 48 months, and as you make payments, funds are deposited into a savings account until the loan is paid off. Each Instal option comes with a nonrefundable $15 administrative fee, which results in an annual percentage rate (APR) from 15.51 percent to 15.73 percent.

CS Max

The CS Max product has higher loan amounts and longer repayment terms. You can borrow $2,500 to $10,000 with a set term of 60 months. CS Max loans also have a higher administrative fee of $25 and an APR between 6.99 percent and 7.31 percent. Like the Instal loan, funds for CS Max are held in a savings account until the loan is paid off. 

Revolv

Unlike Instal and CS Max, the Revolv product is designed to lower your credit utilization ratio by adding a revolving account to your credit profile. There are three plans available, and you will pay an annual fee from $99 to $249 depending on the plan you choose. Monthly payments are optional and go into a savings account. 

This is not a secured loan or a line of credit. Instead, CreditStrong reports your Revolv account to credit bureaus to reduce your credit utilization ratio, which plays a big role in your credit scores. You won't be able to withdraw funds from your Revolv account. However, any monthly payments you make to your Revolv account are reported, helping to build a positive payment history, and you will receive your payments back when you close your Revolv account.

Where CreditStrong personal loans stand out

• Designed to build credit. Your payments are reported to the three major credit bureaus, which means paying on time might help you build or rebuild credit.
• No credit required. You can qualify for a credit-builder loan if you have bad or no credit. CreditStrong doesn't perform a credit check.
• Multiple loans allowed. CreditStrong allows you to have up to two installment loans, business loans and revolving loans at one time. You can select the combination that fits your financial goals and budget.

Where CreditStrong personal loans fall short

• Mostly negative reviews. CreditStrong doesn't receive positive reviews from customers and has a 1.5 out of 5-star rating on Trustpilot.
• Late payments can still harm your credit: There's a 14-day grace period for late payments, but CreditStrong does report late payments if they are 30 days past due, which could lower your credit score.
• Not available in all states. CreditStrong isn't available in Vermont or Wisconsin.

CreditStrong customer resources

Customer support

Customers can reach out to CreditStrong's customer support team via phone or email. Support is available Monday through Friday from 8 a.m. to 5 p.m. CT.

Digital experience

You can open and manage a credit-builder account online. While its website is generally informative, it can be difficult to navigate to find what you need. CreditStrong also doesn't offer a mobile app to manage your account or loans. 

How this lender compares

CreditStrong vs. Upgrade

Upgrade offers unsecured personal loans of up to $50,000. If you are approved, you will have access to your funds immediately. To qualify for a personal loan from Upgrade, you must have at least a credit score of 580. It is a much more expensive product but can be used for just about any expense, unlike a credit-builder loan from CreditStrong, which will only build your savings.

CreditStrong vs. Upstart

Similar to Upgrade, Upstart also offers traditional personal loans. Qualified applicants can borrow $1,000 to $50,000, but unlike CreditStrong, Upstart does have a minimum credit score requirement. It is also a more traditional personal loan product — if you are approved, your loan is disbursed to you within a matter of days. While it can build your credit, you will need to repay the principal and interest. 

Do you qualify for a CreditStrong personal loan?

Since CreditStrong only offers credit-building products, there's no minimum credit score. To qualify, you must meet these requirements:

• At least 18 years old.
• U.S. Citizen with a permanent mailing address.
• A valid checking account or debit card.
• A valid email address and phone number.

In addition, you will need to share your Social Security number or Individual Taxpayer Identification Number (ITIN) in order to sign up for one of CreditStrong's products.

How Bankrate rates CreditStrong

On the other hand, positive reviews mentioned that CreditStrong's product helped to build credit. One reviewer even mentioned that using CreditStrong helped them rebuild their credit enough to qualify for a mortgage.

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