Your credit score plays a pivotal role in your financial life. Everything from getting approved for loans and credit cards to securing your dream apartment or job often depends on those three little numbers.
Fortunately, in today‘s digital era there are some great credit building apps that make it easier than ever to monitor your score and actively work on improving it over time.
In this comprehensive guide, we will explore the top credit building apps available and provide key guidance on choosing the right one for your needs and goals.
What Exactly is a Credit Building App?
Before diving into the top apps, let‘s briefly go over what makes an app a specialized "credit building" tool.
Credit building apps are specifically designed to help consumers improve their credit scores. They provide tools to:
- Monitor your credit reports and scores
- View your payment history
- Receive alerts about credit report changes
- Access educational resources on credit improvement tips
Additionally, many credit building apps offer ways for you to systematically build positive payment history, which is one of the biggest factors in credit scoring calculations.
For those with no credit or a short history, these apps provide accessible starting points to demonstrate responsible usage and begin shaping your score.
Now that we know what sets these apps apart, let‘s explore some of the top options available in 2022.
Key Features to Look for in Credit Building Apps
When researching credit building apps, keep an eye out for these key features:
⛳️ Credit Monitoring & Reports – The app should give you access to regular credit reports from major bureaus and updates on your latest scores. Monitoring is vital for catching issues early.
📈Score Simulations – The best apps will simulate how certain financial decisions or activities could impact your credit score over time. This helps you make strategic moves.
💲 Budgeting Tools – Features that help you manage spending and track monthly finances allow you to stay on top of payments that impact your score.
🏦 Backup Funds – Some apps partner with banks or have built-in lending options that provide small cash advances if you risk missing payments. This prevents score drops.
📚 Educational Resources – Look for apps that offer articles, videos, guides, and tips to help you better understand credit and maintain responsible financial habits.
🔒 Security – At minimum, the app should use bank-level encryption, multi-factor authentication, and fraud monitoring to keep your sensitive information safe.
The Top 12 Credit Building Apps of 2022
After extensive research on features, user reviews, and industry expert recommendations, here are 12 of the top-rated credit building apps to consider:
1. Self Financial
Self Financial pioneered the credit building space with their unique secured loan model. Here’s how it works:
The app helps you open a new credit account in the form of an installment loan. However, you don’t actually borrow any money upfront.
Instead, the loan proceeds are held in a CD account that earns interest as you make monthly payments over 1-2 years. Self reports these on-time payments to all three credit bureaus.
At the end of the term, the CD unlocks and you get back your initial loan payment amount plus the interest earned. Self remains one of the most effective tools for building payment history from scratch.
Key Features:
✅ Credit Builder Account
✅ Rate Simulations
✅ Credit Resources
Platforms: iOS, Android
2. Experian BoostTM
Experian Boost is a free service from the major credit bureau Experian. Users can safely connect their online banking accounts to add on-time cell phone, utility, streaming service, and other bill payments to their credit reports.
According to Experian, actively using Boost can improve credit scores in a matter of weeks. It‘s simple to set up and easy to use alongside other credit building apps.
The service also provides free access to your latest Experian credit report and FICO® score. Upgrade to their premium product for identity theft monitoring and resolution.
Key Features:
✅ Credit Report Access
✅ Bill Payment Boosting
✅ Premium Identity Protection
Platforms: iOS, Android
3. Credit Sesame
As a certified consumer credit advocacy program, Credit Sesame makes it their mission to improve financial literacy and provide tools for better credit management.
Their well-designed app lets you track your credit score from all three bureaus and get a detailed breakdown of factors impacting your rating. Ongoing monitoring alerts you to any report changes.
Credit Sesame also calculates your approval odds for loans and credit cards, so you know when to apply. Users who sign up for Sesame Cash get up to $100 in no-fee advances to prevent missed payments and score drops.
Key Features:
✅ Credit & Identity Monitoring
✅ Cash Advances
✅ Financial Tips & Education
Platforms: iOS, Android
4. Grow Credit
Grow Credit gives users an interesting opportunity to build credit with the subscription services they likely already use.
The app offers lines of credit for streaming, ride sharing, food delivery, and more. As you use the cards responsibly Grow reports monthly payments to credit bureaus. Over time, users establish payment history and access higher lines of credit.
They also offer financial literacy courses and tools to develop long-term money management skills. Grow is ideal for credit beginners looking to demonstrate responsible usage.
Key Features:
✅ Credit Building Purchase Cards
✅ Financial Education
✅ Spending Summary Dashboard
Platforms: iOS, Android
5. MoneyLion
MoneyLion takes a full suite approach to credit building within a digital financial membership. Along with loans, bank accounts, and investment opportunities, they also provide Credit Builder Plus.
This program offers a $500 line of credit at 5.99% APR. As members make payments, MoneyLion reports activity to the credit bureaus each month.
An Instacash feature also allows members to access small advances before paydays to avoid late payments on other accounts. Credit tracking and financial literacy content come standard as well.
Key Features:
✅ Managed Lines of Credit
✅ Instacash Advances
✅ Mobile Banking & Investing
Platforms: iOS, Android
6. LoanSnap
LoanSnap takes an engaging, community-based approach to understanding credit. Users connect anonymously with groups learning about credit together.
The app provides tools and guidance on building credit through loans, credit cards, or LoanSnap’s own credit-building products. Customized alerts notify you of important changes or adverse impacts detected.
LoanSnap also features a marketplace for easily shopping credit offers tailored to your score. Community support and competitions keep members motivated and accountable.
Key Features:
✅ Community Engagement
✅ Custom Notifications
✅ Credit Marketplace
Platforms: iOS
7. figloans Credit Builder Account
San Francisco-based fintech startup figloans aims to provide credit builder tools accessible to everyone.
Their Credit Builder Account functions similarly to a secured loan. You supply the upfront capital and make payments against it over 6-12 months. Figloans reports these monthly payments to help establish your credit history.
At the end of the term you receive all money paid into the account plus any earned interest. Figloans has flexible options both for new credit participants with no security deposit and those able to put funds down.
Key Features
✅ Credit Builder Account
✅ No Fees
✅ Flexible Payment Terms
Platforms: iOS, Android
8. FutureFuel
FutureFuel.io offers a unique incentive model for credit building. Students using their platform to pay off student loans can earn credits to improve credit scores.
For every $1 paid toward student loans, FutureFuel contributes another $1 to a credit builder account in the user’s name. This period payment history establishes positive lines of credit.
The startup expanded eligibility from just students to all users looking to actively improve their financial health through credit building. Switching payment processors can also earn rewards.
Key Features:
✅ Rewards Credit Building
✅ Student Loan Refinancing
✅ Credit Education
Platforms: iOS, Android
9. Builder Credit
Builder Credit appeals to those with fair credit scores but looking to cross over into good territory. The app offers tools tailored to this middle group.
The program establishes lines of credit to open new tradelines in users’ names. As on-time payments get reported, participants see improved credit scores.
Builder Credit also provides financial education and personalized guidance on optimizing credit mix for maximum impact. Monthly subscription plans are reasonably priced relative to score outcome potential.
Key Features:
✅ Credit Building Tradelines
✅ Financial Education
✅ Customized Consulting
Platforms: iOS, Android
10. Bloom Credit
Bloom Credit aims to make credit building feel more like community and less like a chore. They are pioneering a team-based model for motivation and accountability.
Users join Bloom “Squads” made up of friends, family members, or other users at similar credit levels. All squad members contribute to team targets and encourage each other’s progress.
Bloom handles reporting payments for rented tradelines to credit bureaus and coaches’ participants on healthy financial habits. Squad competitions keeps engagement high for credit milestones.
Key Features:
✅ Team-Based Engagement
✅ Financial Education
✅ Credit Building Tradelines
Platforms: iOS
11. Credit Strong
Texas-based Credit Strong takes a members-centric approach with credit builder tools and financial literacy programs accessible to all stages.
Four tiered plans offer varying access to creditors loan monitoring, payment history boosts, mastery courses, and custom disputes for error resolution. Members also benefit from community forums.
Core subscription services start at just $15 monthly. For credit rebuilding from low scores, more robust plans provide step-by-step guidance from financial experts at affordable rates.
Key Features:
✅ Custom Dispute Assistance
✅ Financial Literacy Courses
✅ Member Forums
Platforms: iOS
12. Surge Credit
Surge Credit establishes revolving lines of credit in users’ names and reports monthly payments to all three credit bureaus.
Their secured card model lets you control how much gets reported each month, allowing flexible management for maximum score improvement. Cash advances are also available for emergency expenses.
For younger participants, Surge Credit Coach aids credit beginners through educational modules and practice scenarios to build fundamental money management skills.
Key Features:
✅ Customizable Credit Building
✅ Cash Advances Available
✅ Interactive Credit Coach
Platforms: iOS, Android
Choosing the right credit building app starts with an honest assessment of your current financial situation and why credit improvement is your goal.
Are you looking for an easy way to demonstrate responsible bill payment? Do you need to increase accounts with positive payment histories? Has life thrown surprise expenses at you and forced unwanted score drops?
Understanding the “why” will help determine which app best fits your starting point and desired path for credit building.
Tips for Effectively Using Credit Building Apps
Here are a few key tips to use credit building apps successfully:
🗓️ Commit to Regular App Check-Ins
Don’t just download an app and forget about it. Set reminders to open the app weekly or monthly. Monitoring credit changes consistently is vital.
📅 Stay On Top of Payments
If using a loan or credit account model, carefully note due dates for payments. Set up automatic transfers if helpful. Perfect payment history is the goal.
i️ Follow In-App Education
Soaking up the financial literacy offerings makes you an informed user and better credit manager over the long run.
🥇 Engage Community Features
Joining groups, discussion boards and competitions drives motivation through accountability and friendly competition.
⚠️ Contact Support If Needed
Reputable credit building companies have helpful customer service teams ready to address any issues with accounts or answer questions.
Combining responsible app usage with ongoing financial awareness equips users to see meaningful credit score lifts over time.
Closing Thoughts on Credit Improvement Apps
Checking your credit can feel intimidating at first. Maybe you’ve avoided seeing that three-digit number because it fills you with dread or uncertainty.
Credit building apps remove that friction through accessibility. Monitoring your score and actively working to improve it can now happen right from your phone.
While the highest tier credit rebuilding services come with fees, many offer free tools as well. Start somewhere. Consistency and commitment day by day is key—whether hitting “pay now” on a small monthly bill or opening an educational module.
Progress fuels motivation to keep going until one day you proudly own a score worth celebrating.
Here’s to more of those 700+ credit celebrations in 2023 and beyond!
