BUILD A SOLID CREDIT FOUNDATION
A healthy credit history is critical to your financial future and ability to access loan options for life’s major purchases, including a home. For those with little or no past credit use, earning a positive credit score can be a challenge, even with a clean financial history. Overcome this barrier with a Credit-Builder Loan, available to Fidelity Bank checking customers.* This is an easy way to take a big first step toward establishing a positive record of repayment with documented on-time payments.
Here's how it works
Fidelity Bank checking customers can apply for a Credit-Builder Loan of up to $2,500 repaid over a 24-month period. The borrowed funds are placed in an interest-bearing certificate of deposit. Each month, your loan payment is automatically debited from your Fidelity Bank checking account. After your final payment, you have the option of depositing the balance of the certificate of deposit, including the accrued interest, into your checking account or renewing the certificate of deposit at the current rate.
With a Credit-Builder Loan, you’ll:
- Establish and build a healthy credit history to help with future lending needs.
- Avoid the high interest rates and fees associated with credit cards.
- Enjoy the convenience of automatic monthly payments.
Start building your credit foundation the right way. Talk to a banker or apply online.
*Subject to credit approval.