Get a Credit Builder CD, a beautiful thing!
Pulaski Bank has a great program for building or rebuilding your credit score! It is called their Credit Builder Loan or CD Program. Here’s how it works, you can do either a $500 or $1000 investment in a CD. Payback terms or either 6 or 12 months and payments will be in the $80 range a month. Your payments will be reported to all 3 credit bureaus and be reported as an installment loan, like your car or home reports. In simple terms you are putting money in a savings account every month for 6 or 12 months that helps raise your credit score and at the end of that time you have either $500 or a $1000 saved you can spend on what ever you want!
Like I said, it’s a beautiful thing!! Also there are no prepayment penalties and you are being paid interest on your money. To get stated today call Elizabeth Wade at 314-317-4745. She can get you signed up and answer any questions you have or you can always call us at 314-485-9940.
P.S. If you don’t currently have an installment loan and are trying to build your credit this program will help. 35% of your credit score is making payments on time (Payment History) and when you don’t have any kind of monthly payments occurring the credit bureaus algorithms see that and your score doesn’t advance like it could if you had scheduled monthly payments.
