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The Credit Builder Loan allows you to build your credit score safely and securely with little to no effort. GUASFCU disburses a loan in your name and freezes the funds in your account. While you cannot touch or modify the funds, GUASFCU makes monthly payments on the loan on your behalf until it’s paid off and reports those payments to the credit agencies each month. Only GUASFCU can offer this kind of student-centered service!
Given that credit scores are affected by a variety of factors, we cannot guarantee what your credit score will be.
However, on average, GUASFCU members with Credit Builders go from having no credit score to a credit score in the 700s.
➤ Good credit helps students qualify for apartments, car loans, and lower interest rates after graduation.
➤ The Credit Builder is simple and transparent, with no hidden fees and predictable monthly payments.
➤ Students can begin building credit while still in school, even with no prior credit history.
➤ Many students reach 700+ FICO scores with no debt, no stress.
GUASFCU sets up a $1000 line of credit for you in your name (no co-signer needed)
The money is placed in a secure account and held for you. You don’t receive the cash. It’s frozen and used only to build credit.
GUASFCU pays interest and principal on your line of credit each month, automatically, and always on time.
Each month, we report on-time payments to the major credit agencies. That’s how your credit history gets built.
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