Credit Builder Account

Self Financial Inc. (2020) says "Self is a financial technology company with a mission to help people build credit, particularly those who are new to credit or who might not have access to traditional financial products.

Right now, we do this through offering our Credit Builder Account, which is an installment loan that enables people to build positive payment history (if they make their monthly payment on time) while they save money for a rainy day.

Here’s how it works: 

1. Apply for a loan that’s held by our bank partners. Your money is secured and protected in a bank account.1 
2. Pay off the loan in 12-24 months.* You can choose a repayment plan that fits your budget.
3. Each payment builds credit history and adds to your savings.1 Your payments are reported to all three credit bureaus."

Source: https://help.self.inc/article/384-what-is-self