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Self Lender Reviews: Building Credit With a Loan from Self Inc

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Self Lender reviews

Self-lending via credit builder loans has typically been programs managed by small community banks and credit unions. Self Lender or Self Inc as it is known today, is the first company to launch a nationwide, online Credit Builder Account, and has cemented itself into the credit-building loan market providing services to the masses via several digital financial services. Is Self the right option for your credit building journey?

 

About Self Inc.

Self Inc. is an innovative financial institution that can help build your credit and save money at the same time. With over 1 million users, Self Inc understands the struggles that many individuals face when trying to improve their creditworthiness. That is why they have created a unique platform that allows users to take control of their financial future by better positioning themselves when applying for credit.

By offering credit builder loans, Self Lender helps establish a positive payment history, while also locking away money for your future goals. With their easy-to-use Self App and personalized support, Self Lender takes the guesswork out of credit building, making it accessible and achievable for everyone without spending hundred or thousands on credit repair services that lack transparency.

 

Self Lender vs Traditional Credit-Building Methods

When it comes to building credit, there are various methods available. However, Self Lender offers a unique and effective approach that sets it apart from traditional methods. Unlike secured credit cards or credit builder loans offered by banks, Self Lender’s credit builder loans don’t require an upfront deposit or a hard credit check. This makes it accessible to individuals who may not have the means or credit history to qualify for traditional credit-building options. Additionally, Self Lender’s loans are specifically designed to build credit, whereas traditional loans may come with other requirements or restrictions. With Self , you have a dedicated partner on your credit-building journey, guiding you every step of the way.

If you meet the credit requirements, have the discipline, and looking for a credit card to build credit payment history and enjoy some additional card perks, I highly recommend the Chase Freedom Unlimited. You earn a $200 bonus after spending $500 on purchases in the first 3 months from opening your account. Other highlights are a 3% cashback on dining at restaurants, including takeout and eligible delivery services, drugstore purchases, and 1.5% cashback on all other purchases.

 

Self Credit Builder Account

We’re more familiar with credit building credit cards known as secured credit cards, but credit building loans have also been available through traditional banks such as LeadBank and financial institutions for years. They’re often called “CD-secured loans” or “savings-secured loans,” since they’re secured by a Certificate of Deposit (CD) or some other form of savings account.

By opening a Credit Building Account with Self Inc, you are commit to putting a certain amount of money into an account each month. Think of it as a CD account where your payments are reported to the three major credit bureaus (Equifax, Experian and TransUnion) in order to establish or build credit.  Why is this key to your credit building strategy? Well, credit payment history makes up 35% of your credit score. 

Key Elements

✅ Free to join Self Inc. One time $9 non-refundable fee to open a Credit Builder Account.

✅ Self’s bank partners (LeadBank, Sunrise Bank) lends you a small loan in the form of a FDIC-insured CD which is held until it is paid in full.

✅ You start repaying your Credit Builder Account the following month by making equal payments over the term of the loan.

✅ Your  payment history is reported to the three major credit bureaus, Experian, Equifax and TransUnion each month.

✅  When you pay off your loan, you will receive the funds you put in over the 24 month period minus the interest and fees.

✅ Account is available online or via Self App in all 50 states.

 

 

Self Inc Credit Builder Plans

Self Inc offers 4 different credit builder plans to fit your budget and credit goals.  Similarities among the 4 plans are the flat $9 administrative fee and 24-month term. 

Your final cost and interest rate will vary based on the specific plan you choose.

self lender inc plans

 

How Will Self Credit Builder Show up on Your Credit Report?

A Credit Builder Account will show up as a “secured-installment loan” from one of  Self Inc.’s bank partners such as Sunrise Bank.

 

 

Self Inc Banking Partners: Is Your Money Safe?

Self Financial partners with several banking institutions to provide a variety of credit building services. Credit Builder Accounts held in a Certificate of Deposit (CD) at one of these institutions below are FDIC insured. 

Sunrise Bank  –  Credit Builder Accounts

First Century Bank  –  Self Visa® Credit Card and certain Credit Builder Accounts

Lead Bank  – Secured credit card and certain Credit Builder Accounts

Atlantic Capital Bank  – Self Visa® Credit Card and certain Credit Builder Accounts

 

Closing Your Self Credit Builder Account Early

If you must complete an early withdrawal and close your account, you can cancel your account at any time as long as your account in good standing.  Before making a withdrawal request, login to your account and ensure your address and bank account information is up to date. This will prevent any delays in processing your request as it may take up the 3 weeks.

 

 

Self Lender Reviews: Is Self Inc the Answer to Your Credit Challenges?

 

Self Inc is fairly transparent with its customer reviews. As of August 2023, the Self App has 4.6 stars, 7000+ reviews and over 1 million downloads on the Google Play Store. On the Apple App Store, Self App also boast an impressive 4.9 stars from over 240,000 reviews.  Review portal Shopper Approved has Self Inc at 4.7 stars with over 2500 5-star reviews.

Some users have seen a big improvement in their credit scores; some show more modest gains. It is also not exactly clear when credit improvements kick in as many factors beyond Self’s control are at play here. In some cases, the benefits are immediate. In other cases, it takes could take 6-9 months to see improvements. While credit results may vary, Self Inc is a legit BBB-accredited financial technology organization that provide positive results to most of its customers. On average you can expect a credit score increase of 49 points.

One other important factor to consider is frankly, your personality. Some individuals perform better with an enforced method to improve their credit. However, if you prefer a more independent and flexible approach to your personal finances, their credit builder loans might not be the optimal option for you. Try this biweekly 26-week savings challenge instead. If you’re looking for extra income to keep up with your payments, there are a large number of side hustle opportunities out there.

Late Fees and Penalties

Self Inc is not an accountability-free method of possibly increasing your credit score. You are still required to make your payments on time, and failing to do so can leave you in a state that is worse than when you started to use the service.

✅ A Late equivalent to 5% of your monthly payment amount is charged 15 days after payment due date.

✅ A late fee of 5% of your monthly payment amount if your payment is at least 15 days past due.

✅ Failed payment made via bank account will be charged a $15 return fee.

✅ Expedited payment charge is you make payments with debit card (charge will vary based on your Credit Builder Plan).

✅ A small fee less than $1 for closing your Credit Builder Account early.

 

Self Visa Credit Card

The Self Visa Credit Card is another financial offering by Self that is aimed at assisting individuals in building or repairing their credit. This secured credit card requires a refundable security deposit as collateral while allowing users to establish credit history responsibly. With a Self Visa Credit Card, cardholders gain access to the extensive network of Visa benefits, enabling secure online transactions with everyday purchases. By making timely payments and maintaining good credit behavior, users can gradually improve their credit scores It serves as a valuable tool for those seeking to build credit or recover from past credit challenges.

Once you are eligible for the Self credit card, you will receive a notification inviting you to sign up for the card when you login to your account. However, eligibility does not guarantee approval. To be eligible for the secured credit card through Self, you must meet the following requirements:

✅ Have an active Credit Builder Account for at least 3 months and have made at least 3 monthly payments on time

✅ Have reached at least $100 savings progress in your Credit Builder Account (after interest and fees)

✅ Have your Credit Builder Account in good standing

✅ A permanent US residency or citizenship with a Social Security Number

✅ Login and add your income and expenses to your account

 

Self Lender Phone Number and Customer Service Contact

Self Lender offers personalized support through their Self App, website, and customer service channels. If you have question or concerns about any of their credit building services, Self Inc.’s customer support can be reached at 1 877- 883-0999 Monday-Friday from 7am-6pm CT

 

If you’re looking to build slow and steady wealth, also check out Raisin for single sign on access to FDIC insured institutions offering high-yield interest rates above 5%. I like Raisin.com for its easy to use interface and access to multiple institutions to diversify your funds without creating multiple accounts across different banks.

 

Conclusion

Building your credit requires patience, discipline, and the right tools. There is no question as to whether or not Self Inc is legit. With Self, you have a trusted partner that can help you build credit and save money at the same time. Their credit builder loans are designed to establish a positive payment history, improve your credit score, and provide you with savings for your future goals. Whether you’re starting from scratch or rebuilding your credit, Self Lender’s user-friendly app and personalized support make the process accessible and achievable for everyone.

 

 

Ready to start building your credit? Apply at Self Lender today!

 

 

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Throwing an Epic Kids Birthday Bash on a Shoestring Budget? Try These Creative Cost-Saving Tips

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<p>Your little one's birthday only comes once a year, so you want to make it extra special. But between venue costs, entertainment, food, supplies and more, expenses can quickly spiral out of control. With some creative planning though, you can throw an epic kids' party that feels luxurious without draining your bank account.In this article, we'll explore top tips for celebrating your child's big day in style on a budget. From picking the perfect theme to scoring décor deals, you'll learn how every parent can pull off a pint-sized birthday bash kids will remember forever – without going broke. Let's get this party started!</p>::Pexels

 

 

Planning a Budget Birthday? Check Out These Money-Saving Ideas

 

Your little one’s birthday only comes once a year, so you want to make it extra special. But between venue costs, entertainment, food, supplies and more, expenses can quickly spiral out of control. With some creative planning though, you can throw an epic kids’ party that feels luxurious without draining your bank account.

 

In this article, we’ll explore top tips for celebrating your child’s big day in style on a budget. From picking the perfect theme to scoring décor deals, you’ll learn how every parent can pull off a pint-sized birthday bash kids will remember forever – without going broke. Let’s get this party started!

 

Rockin’ Theme Sets the Stage

A fun theme kicks the party off right while offering direction for decorations and activities. Brainstorm favorites like outer space, under the sea, jungle safari or tie-in children’s movie themes. Visit Pinterest for inspiration on bring any chosen motif to life inexpensively.

 

With basic art supplies, you can craft signs, photo backdrops, confetti cones and garlands to transform any space into a wonderland. Use paint, construction paper, tissue paper and ribbons sourced from the dollar store. That handmade touch makes for an unforgettable party compared to store-bought kits.

 

Cake Hack: Costco to the Rescue

No need to stress perfecting a homemade cake when Costco bakeries make gorgeous, delicious options starting at just $15.99. Their wide selection lets you match any theme from pirates to princesses. A sheet cake easily feeds 30+ guests with money left over versus ordering a specialty cake.

 

Costco’s cakes use quality ingredients for long-lasting freshness, so you can buy up to a week in advance. Let their in-house designers decorate masterpieces that avoid hours of frustrating decorating. Kids only care about devouring sugary goodness anyway!

 

Venue Hunt: Keeping it Local

Finding party space doesn’t have to break the bank either. Start by scouting your own backyard, if weather permits. To add pizzazz, adorn the yard with balloons, streamers and lawn games. For indoor fun, look into nearby community centers or school venues which offer affordably priced party packages.

 

Parks hosting covered picnic areas provide sheltered spots for minimal cost – just review reservation policies. Wherever you celebrate, embracing a venue that simplifies setup makes hosting smoother. Focus time on fun versus logistics!

 

Trim the Guest List

To control headcount and cut overall costs, limit invited guests to your child’s closest friends. For a first birthday, cap the list around 10-15 to keep things manageable yet lively. Get RSVPs early to accurately plan for food, seating and favors. Resist pressure to invite everyone by emphasizing this event is all about celebrating your birthday boy or girl.

 

Dazzle with Budget Décor

Dollar stores are your best friend when it comes to decorations on a dime (Or a dollar). Load up on packs of solid color plastic tablecloths, bundles of balloons, rolls of streamers, and festively patterned plastic plates, cups and utensils. All can be found for just $1-2 per pack.

 

Transform any space through strategic use of these dollar store finds. Mix and match balloons, streamers and plastic banners in the party’s colors. Drape plastic tablecloths over folding tables for instant style. Arrange decorative embellishments like curling ribbon, pom poms, garlands and scene setters.

 

Construct a photo booth backdrop by mounting bold wrapping paper or fabric from the dollar store on cardboard. Craft papier mache shapes of key theme items like rocket ships or flowers using newspaper and flour. Let your creativity shine with budget materials without going broke on store-bought kits.

 

Mix and Match Affordable Eats

Satisfy guests with crowd-pleasing snacks and pizza delivery versus a catered spread. Do your own food prep ahead of time to save money. Slice fruit kabobs, assemble veggie platters with ranch dip, make sandwich wraps and chilled pasta salads. Get creative decorating your own homemade cupcakes instead of splurging on a full custom cake. Hit up Costco or Sam’s Club for trays of cookies and other baked treats at bulk rate deals.

 

Provide juice boxes, bottled water and soda as drinks. For easy self-serve, arrange all food in a buffet style. Set up labeled food stations if hosting outdoors. Doing a potluck with parents pitching in on homemade side dishes and desserts also helps cut catering costs considerably. Get their help with setup and cleanup too!

 

Host High-Energy Fun

Involve kids in active games and crafts that bring the party’s theme to life. For an ocean party, play fish bowl fishing for prizes or hold a sandcastle building contest. Hand out foam aquatic animal hats for kids to decorate themselves.

 

Jungle safari parties could feature limbo, bean bag toss, or making animal masks or binoculars. Use brown paper bags as the mask base and attach cutout eyes, ears and snouts. Space themes offer opportunities for an astronaut training obstacle course or decorating galactic space ship hats.

 

No need to spend on expensive entertainment. Provide inexpensive grab bag favors like bubbles, crayons and small toys to take home. By tapping into creative theme-based activities, you’ll keep young guests engaged without breaking the bank. The birthday child will love celebrating their special day through games designed just for them.

 

DIY Favors on the Cheap

Instead of purchasing trinket favors, make your own utilizing supplies on hand. Fill brown bags with candy, stickers and party hats. Or help kids plant their own seed packets as a nature-inspired gift.

 

Printable coloring sheets and bookmarks require just paper and crayons for hours of entertainment. Handing out playdough or sidewalk chalk lets children get creative. Thoughtful party favors made yourself show guests extra appreciation.

 

Final Thoughts

Pulling off the perfect bash on a budget just takes a bit of resourcefulness. Dazzling décor, activities, food and favors can all be done affordably if planned out.

Follow these tips to make your child’s celebration a memorable one without overspending. The real magic comes from celebrating your little one surrounded by family and friends.

 

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Why Debt-Free People Should Look To Online Marketplaces To Save Money During The Holidays

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saving money shopping in online marketplaces

I’m not debt-free yet, but I am always looking for ways to save money, especially around the holidays. This year, I really needed to get a new dining table. My other table was getting unsafe with my baby around it and we genuinely hated it. So, that sent me on a search for something affordable. I landed myself on Facebook Marketplace and if you aren’t already using platforms like this, you’re missing out. Here’s why.

The Table Story

When we moved back to North Carolina two years ago we didn’t have anything. We slept on an air mattress until we could get a mattress here and I stacked up boxes to serve as a desk until I could afford to buy a new one. Thankfully, some people came through with some free furniture to help us get by.

Unfortunately, the furniture definitely wasn’t our style (but hey, it was free). It served its purpose, but once we had a baby, we noticed that the furniture wasn’t only an eyesore to us, but it started getting dangerous for the little one.

My toddler nearly pulled the glass table down on herself one day and I’d had enough. It was out by the curb the next day, but we had a dilemma. Now, we had no table, and I’ll be hosting Christmas Eve in a few weeks. Yikes!

One of my good friends mentioned looking on Facebook Marketplace. After having dealt with bed bugs a few years ago, I’m weary about buying anything secondhand or from garage sales. However, she assured me we could check things out before we paid for them and take everything case by case.

So, I started looking around and we found a table that looked like it would be perfect for us. It is a four-seater with a leaf in the middle, making it easier for when we have guests. Best of all – it was only $150! Now, I’m a huge fan of marketplace sales and giveaways.

My Favorite Online Marketplaces

Of course, Facebook is one of the main marketplaces you can find things for sale (or free). Here are some of my favorite ways to find things on that platform:

  • Get into local groups. Here in Indian Trail there are local “buy, sell, and trade” groups for all of the neighboring towns and cities. These can be awesome spots to find things for cheap.
  • Mom groups are good too. I have seen a lot of great things being given away in “moms giving to moms” groups. If you are searching for toys, household items, clothing, etc. these can be great places to look.
  • Check the Marketplace itself. Facebook has a marketplace section on its app and you can search locally for specific item like a kitchen table.
  • Post an ‘ISO.’ Facebook is a great place to share an ISO (in-search-of) post. This helps people recommend places where you can find what you are looking for or, if you’re lucky, someone on your friends list may already have it on hand.

Facebook isn’t the only online marketplace where you can grab used, budget-friendly items either. You might want to check these platforms too.

  • OfferUp
  • Mercari
  • eBay
  • Craigslist

No matter what marketplace you decide to peruse for your items, be sure you protect yourself against any scams. Don’t pay for anything before you have seen it and, if possible, make sure the seller is verified.

Readers, what are some of your favorite online marketplaces? Let me know in the comments! I’d love to check them out.

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Save Money on Home Entertainment With These 5 Tips

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<p>It's easy to feel like your entertainment budget is out of control. The things we pay for in this budget category are nowhere near being a necessity, however, everyone needs to have fun, right? If your budget has got you down, here are just a few ways to save money on home entertainment...</p>::Pexels
It’s easy to feel like your entertainment budget is out of control. The things we pay for in this budget category are nowhere near being a necessity, however, everyone needs to have fun, right? If your budget has got you down, here are just a few ways to save money on home entertainment…

How to Save on Home Entertainment

You may have noticed it says “to save money on home entertainment.” While entertainment costs usually occur outside of the home, if you truly want to save cash you’ll want to stay home and have fun (though there are a few here that involve going out). Going out costs more because you pay extra to have someone making your food, and you pay for ambiance as well as convenience. Staying at home is really the way to go.

That being said, here are ten great ways to save on home entertainment:

1. Netflix

Netflix became a great way to save on home entertainment years ago. Before Redbox gained a ton of popularity, Netflix began a monthly DVD mailing subscription. You received a DVD in the mail for your monthly price and once you returned it, you’d receive the next movie on your list. Slowly but surely, Netflix turned into the giant entertainment source it is today. Overall, it is still a great way to keep your home entertainment costs low (especially if it is the only streaming site you subscribe to).

2. Amazon Prime

Amazon Prime is another great way to trim the cost of home entertainment. Many people use Amazon’s video services to replace their current television services. This can save you hundreds of dollars a month if your cable bill was steep enough. Prime offers tons of television and movie options as well as the option to purchase individual channels, like HBO and Showtime, if you desire to do so. If you’d like to watch a new movie, you can rent it through Amazon. You’ll also get free shipping on many items and other great Amazon Prime perks. You can purchase Amazon Prime services for $99 per year.

3. Sling TV

Another great way to trim the cost of home entertainment is joining Sling TV. Sling TV prides itself on being “a la carte” television where you choose what channels you want. Packages start at $20 a month for basic live television. This includes many of the regular television channels you receive with basic cable at a much cheaper price. The more channels you add to your package, the higher the price will be. However, Sling TV can save you a ton of money, especially if you’re switching from traditional cable.

4. Consider a Movie Pass

This doesn’t necessarily pertain to “home entertainment” but you can save a ton of money on monthly entertainment costs by considering a Movie Pass. If you’re an avid moviegoer, Movie Pass may be a perfect option. For $9.99 a month you can attend unlimited movies at various theaters throughout the United States. Of course, you’ll want to be sure that there is a theater near you that accepts the Movie Pass. If they do, you’ll save a ton on going to the movies.

5. Skip Redbox

When most people think about skipping the movies, they think Redbox. However, Redbox can actually cost you more money than it saves you. Sure, it’s only $1 and some change to rent the movie for one night. More often than not, you keep the movie for multiple days or until you have a chance to drop it off again. This usually winds up costing you $5 or more (up to $35 if you keep it out long enough). Skip Redbox and rent movies online, through Amazon or YouTube.

Whether you decide to take these tips on how to save money on home entertainment or find new ways to save for your home, discovering ways to trim your budget and save is always great!

You may also enjoy this article on Free Home-Based Workout Videos.   

 

 

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Save Money on Recipes Using These Sites

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<p>I'll be the first to admit that I have a soft spot for cookbooks. There is nothing like cracking open a dusty book and finding your favorite recipe to make from scratch. For years, cookbooks were what I collected when I traveled. Then I realized that, with the internet, it is easy to save money on recipes. In fact, you can find almost any recipe you want for free. (You can workout for free too!)</p>::Pexels

I’ll be the first to admit that I have a soft spot for cookbooks. There is nothing like cracking open a dusty book and finding your favorite recipe to make from scratch. For years, cookbooks were what I collected when I traveled. Then I realized that, with the internet, it is easy to save money on recipes. In fact, you can find almost any recipe you want for free. (You can workout for free too!)

Places to Get Recipes Online

There is no doubt the easiest way to save money on recipes is to hit the internet. If you’ve been reading regularly, you know I just tried out Aldi for the first time and have been looking for ways to cut my food budget. Finding great recipes for free has been a huge part of that. Here are some of the best places to find recipes online:

All Recipes

AllRecipes.com is one of the best recipe sites available and it has a few extremely helpful tools. All Recipes allows its users to search for specific recipes, like “sugar cookies.” You can also use the search function to input ingredients that you have in your kitchen. By adding your ingredient list, All Recipes will give you a meal to cook with what you have. By creating an All Recipes account, you can create a taste profile to allow the site to give you recipe recommendations. Additionally, you can submit your own recipes to be used by people all around the world.

Food Network

The Food Network is another great place to get free material and save money on recipes. Not only will you get a recipe from famous chefs, you’ll also be able to watch helpful videos and get tips on recreating these dishes. You can search Food Network’s site as a whole for recipes or you can search for your favorite cook and scan what they have to offer. However, keep in mind, not all Food Network chefs allow all of their recipes to be published.

Simply Recipes

Simply Recipes is exactly what it sounds like: simply recipes. The site is very simple and easy to navigate. You can search for any recipe (they have just about everything) or if you’re less sure of what you’re looking for, you can look at the recipe index. The index holds every recipe the site has and you can search by dish type (i.e. chicken, beef, seafood). They even have a “budget” section of the index.

Yummly

Yummly is a great resource for those viral recipes. Usually, you scroll up to them on Facebook and pause a moment with your mouth watering. Chances are, the recipe probably came from Yummly. While they have some traditional dishes, they are known for having delicious treats like “Baked Apple Pie Rollups” and “Smores Nachos.” So, if you’re looking for something different without having to shell out cash for a recipe, check out Yummly.

MyRecipes

MyRecipes.com is another great free recipe resource. While My Recipes is similar to the other resources listed, it is different in many ways as well. My Recipes provides articles for users, how-to videos, and easy recipes. Users can also enjoy a weekly show where My Recipes creates a recipe live (sparked by Pinterest fails). The site also has the great tool All Recipes provides where you can enter your ingredients and allow the site to find recipes. Another great My Recipes perk is the fact that the site includes the same viral treats Yummly has, traditional dishes, and beginner recipes.

Finding recipes on the cheap is easy and fun. Sometimes I wonder why, and even how, I managed before. Do you have other ways to save money on recipes? Let us know in the comments.