Most Buy Here/Pay Here, Pay Day Lenders, Used Vehicle, and Title Loan Companies don’t report to a credit bureau. Their clients don't build credit.
Credit Builder IDAs
Asset Building organizations around the country are introducing new credit building strategies to help their IDA savers and financial education clients strengthen their credit histories and scores.
Credit Builder IDAs integrate credit building strategies, financial products and services to help IDA savers build credit. These IDAs include:
matched savings to help low-income populations pay back asset-stripping debt
savings to secure small dollar value loans as an alternative to payday and emergency loans
Featured Credit Builder IDA - Citizen Potawatomi CDC
Private funds match IDA savings to pay back debt:
Citizen Potawatomi's credit builder IDA offers Native Americans an opportunity to save and have those savings matched in order to pay back debt and build their credit.
