Credit Builder CD
Resource Name: Southern Bancorp Credit Builder CD
Description:
Whether you are new to credit or have made mistakes in the past, the Credit Builder CD (Certificate of Deposit) is an easy way to start building good credit history.
How it Works:
Choose an amount. You may choose $500 or $1,000.
Get a Loan and CD. Southern Bancorp loans you this amount and puts the money in either a 12 month CD ($500 loan) or an 18 month CD ($1,000 loan) until you complete the program.
Make Monthly Payments and Build Credit. You make monthly payments on the loan and they are recorded and become part of your credit history.
Get Money Plus Interest. After making all loan payments, you'll receive the full value of the CD, plus interest.
Payments Improve Your Credit Score. Payments are reported on your credit history and could improve your credit score.
Get Loans. Improving your credit score increases the chance of being approved for a credit card, car loan, home mortgage, or small business loan.
Save Money. Improving your credit score saves you money by decreasing the interest rate you will pay on future loans.
Contact:
Website: https://banksouthern.com/project/credit-builder-cd/
Or go to the nearest Southern Bancorp! It's easy! Stop by any Southern Bancorp location and speak to one of our friendly staff members. Just bring a photo ID and your social security number.