Instal credit builder accounts report $1,000 or more of installment credit to the 3 major credit bureaus and build your savings while you build credit.
Open your Instal account in just minutes.
No hard credit pull on your credit profile. Accounts are FDIC insured.
Pick your plan.
Pick your plan: Choose to build credit over 24, 36, or 48 months with a payment that fits your budget.
Make on-time monthly payments to build positive credit history.
Free FICO score monthly to track your progress.
Unlock savings when account is paid off or closed.
Cancel anytime without penalty or keep open to build length of history.
Instal accounts can positively impact factors that determine 90% of your FICO Score
What is installment credit?
Installment credit is typically a loan with an amount, interest rate, term (the length of the loan in months or years), and a set monthly payment.
How will this help me?
Instal accounts build installment credit on your profile and demonstrate to lenders your ability to consistently make on-time fixed monthly payments over the term of a loan.
Works great with other products.
Your credit mix matters – having a diverse blend of credit accounts builds your profile. Adding a Revolv account to Instal can enhance your credit mix.
- Save up to $1,010 in just 48 months
- $1,010 installment account reported
- Build 48 months of credit history
- Save up to $1,100 in just 36 months
- $1,100 installment account reported
Build 36 months of credit history
Your credit profile and your associated credit score are uniquely you. How quickly your credit profile improves and the impact on the score will vary, but the best thing you can do is make on-time payments and keep building your profile.
Occasionally, adding a new line of credit to your credit profile will cause a slight temporary dip in your credit score because it may reduce the overall age of your credit history. In this case, it’s typical for your credit score to quickly rebound and increase with on-time payment history for the CreditStrong account loan.
You may cancel or close your CreditStrong account at any time with no prepayment or early termination fee. Please note that any payments received more than 30 days late will be reported as ‘late’ to the credit bureaus.
When canceling or closing your account you should be aware that payment history is the most important factor for your FICO credit score and by closing your account early you will reduce the number of payments reported to the credit bureaus, potentially reducing the positive impact of the CreditStrong Account loan on your credit score.