Cheese: Credit Builder Account 2.0.28

Extra Financial Inc. – Freeware – Android iOS
out of 1788 votes

Unlock Your Financial Future with Cheese: Credit Builder Account

David Fischer

01/02/2025

Cheese by Extra Financial Inc. offers a straightforward solution to building your credit score while managing your finances effectively.

With a Cheese Credit Builder account, individuals are able to save and build credit simultaneously. This solution is ideal for those looking to rebuild their credit score or establish a credit history. Whether you have plans to make a major purchase, need credit repair, or simply want to start building credit, Cheese provides the best credit-building solution to help you achieve your goals.

Here’s how it works:

Apply for an account: No credit check or admin fees are required.
Build payment history: Each on-time payment is reported to all three major credit bureaus and contributes to your savings.
Get your money back: At the end of the loan term, you receive your paid-off principal minus the interest.

You can start building credit history from day one as we promptly report your first payment history to all three credit bureaus (Experian, Equifax, TransUnion). This accelerates the credit-building process significantly.

Our repayment plans offer flexibility. The total repayment amount ranges from $500 to $2000 with term lengths of 12 or 24 months. You can select a plan that suits your needs, with monthly payments starting as low as $24.

The auto-save feature ensures that you never miss a payment. With automatic payments, you can stay on track and achieve positive credit reporting even while you sleep.

We believe in transparency, which is why we don't have any hidden fees. There are no upfront deposits or membership fees. We only charge a fixed and low Annual Percentage Rate (APR).

If at any point making payments becomes challenging, you can cancel anytime without penalty.

Improving your credit score is an important step towards achieving financial freedom. With a Cheese Credit Builder account, you can grow your credit easily and stress-free. For further information, please contact us through email at [email protected].

Note: The APR may vary based on your state of residency, starting from 5%. Our banking services are provided through Synapse, our banking software provider.

Overview

Cheese: Credit Builder Account is a Freeware software in the category Business developed by Extra Financial Inc..

The latest version of Cheese: Credit Builder Account is 2.0.28, released on 10/11/2023. It was initially added to our database on 10/11/2023.

Cheese: Credit Builder Account runs on the following operating systems: Android/iOS.

Users of Cheese: Credit Builder Account gave it a rating of 5 out of 5 stars.

Pros

Helps build credit history for individuals with little or no credit.
No credit check required to open the account.
Offers a straightforward and user-friendly mobile app for managing finances.
Accounts are FDIC insured up to applicable limits.
Automatic reporting to major credit bureaus helps establish a credit profile.

Cons

Requires a monthly fee which can add up over time.
Limited features compared to traditional credit cards or banks.
Users may find usability issues in the app.
Refund policy or account closure processes can be unclear.
Some users report slow customer service response times.

FAQ

What is a Credit Builder Account?

A Credit Builder Account is a type of account designed to help individuals build or improve their credit scores through responsible financial behaviors and regular payments.

How does the Cheese: Credit Builder Account work?

You deposit an amount into the account, which is held securely. You then make monthly payments, which are reported to credit bureaus, helping to improve your credit history.

Who can open a Cheese: Credit Builder Account?

Anyone looking to build or improve their credit score can apply for a Cheese: Credit Builder Account, regardless of their current credit status.

Are there any fees associated with opening the account?

There may be minimal fees involved, including a setup fee or monthly service charge. It's essential to review the terms and conditions for detailed information on any fees.

Is there a minimum deposit required for the Cheese: Credit Builder Account?

Yes, there is a minimum deposit requirement which usually varies based on the account terms. Check with Extra Financial Inc. for specific amounts.

How long does it take to see improvements in my credit score after opening this account?

Improvements can vary by individual, but generally, you might start seeing changes in your credit score within a few months of consistent payments.

Can I withdraw my funds from the Credit Builder Account at any time?

The funds in a Credit Builder Account are typically locked until the end of the term or until certain conditions are met, as they are meant to encourage saving and consistent payment.

Do my payments get reported to all major credit bureaus?

Yes, your payment history is usually reported to all three major credit bureaus: Experian, Equifax, and TransUnion.

What happens if I miss a payment?

Missing a payment can negatively affect your credit score. It's essential to make payments on time to benefit from the Credit Builder Account.

Is there an option to transition to a regular checking or savings account after building my credit?

Many times, yes. After successfully building credit with this account, Extra Financial Inc. may offer options for transitioning to other types of accounts.

David Fischer

I am a technology writer for UpdateStar, covering software, security, and privacy as well as research and innovation in information security. I worked as an editor for German computer magazines for more than a decade before joining the UpdateStar team. With over a decade of editorial experience in the tech industry, I bring a wealth of knowledge and expertise to my current role at UpdateStar. At UpdateStar, I focus on the critical areas of software, security, and privacy, ensuring our readers stay informed about the latest developments and best practices.

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