How Credit Works

How to Start Building Credit

So you’ve made the decision to take control of your credit but you’re not sure how to start building?

Whether you have no credit history or are simply looking to strengthen your credit, there are two options almost anyone can use to start building credit.

Secured credit cards

Secured credit cards work like normal credit cards, but they require a deposit up front.

However, there are a few catches with these cards. Many are not open to someone who has a recent bankruptcy or foreclosure on their credit report. And many secured cards require a hard pull to your credit.

The Self Visa® Credit Card, however, doesn't do a hard pull on your credit. And, since the only way to access this card is through the Self Credit Builder Account, you essentially split your security deposit up into several monthly payments.

Perhaps the best part for people with a recent bankruptcy or foreclosure on your credit record who are looking for a way to build credit history? You don't need good credit – or any credit – to get started with Self.

Learn more about the Self secured credit card here.

Self Credit Builder Account

The Self Credit Builder Account is almost like a savings plan that helps you start building credit history (minus interest and fees). Imagine that someone gives you a loan, but you’re forced to save it until the account is done; that’s how the Credit Builder Account works.

Each month, you pay into your Credit Builder Account and we report your payments to the three major credit bureaus, helping you build credit history.

At the end of your account, you unlock your savings and the money inside is yours (minus interest and fees).

Looking for more ways to build your credit? Read this in-depth guide.