Self Lender is one of the well-known online lenders to build personal credit or restore damaged credit.
Hey, this is Tony, and today we are going to review Self Lender. In this in-depth review, we will explain all the pros and cons of Self Lender, alternatives, payback terms, interest rates, fees, is Self Lender safe or not, how to apply, and more.
And we hope our in-depth review will help you to make the right decision after comparing all the upsides and downsides of Self Lender.
Table of Contents
- Upsides Of Self Financial, Inc
- Downsides Of Self Lender
- What is Self Lender?
- How Does the Self Lender Work?
- How much money does Self Lender give a loan?
- When I Can Withdraw From Self Lender?
- How Much Does Self Lender Raise Your Credit Score
- Is Self Lender Legitimate Or A Scam
- How To Apply For Self Loan?
- Self Lender Visa Credit card
- Customer Service Number
- Self Lender Competitors/Alternatives
- Self Lender VS Credit Strong
- Self Lender Dropped My Credit Score
- Freferral Program
- What is the credit score or FICO score?
Upsides Of Self Financial, Inc
As a financial company, they will sell money to you and you have to pay it off with a simple charge. So you may not like all the features of Self. And almost every thins some upsides and downsides. At first, let’s take a look at the upsides of Self Finacical Inc.
1. Improve Your Credit Or FICO Score
The best part of Self Lender is they help your repair and restore your damaged FICO score. You just need to make payment one time.
2. No Upfront Fee
Another upside of Self lender is to get a loan you don’t need to pay any upfront fee or deposit any security money or other stuff.
3. Fewer Documents Needed
You need to submit a lot of paperwork and other documents to get a traditional or business loan. But Self lender requires fewer documents than other loan providers. So I think it’s hassle-free.
4. Easy Process
The loan process is easy and simple. You just need to apply online and fill up a simple application form with basic information. Then select a plan. Get approval and start paying. That’s all.
5. Multiple Options
Self Lender offers multiple financing options for you. They have four different payment plans from 12 months to 24 months. The monthly commitment starts from only 25 dollars (monthly).
6. Clean Dashboard
Self got a pretty simple and user-friendly dashboard. There you are allowed to check your monthly payments, monitor your saving, and track your credit history. Besides they have great customer care service.
7. Early Payment
Early payment is a great option when someone has sufficient money to pay off their loans. You may have extra money and you want to pay off your current loan. You are allowed to pay off earlier.
Downsides Of Self Lender
Besides upsides, they also have some downsides. Let’s take a look at the cons of Self Lender:
Like other people, you may not like this feature also. Until the loan amount is paid off you can not access or use the money you get as a loan. There have some extra fees also.
2. Suspending account
You may want to stop or suspend your self account for a certain time or permanently. If you want you can not do it. You have to wait for the months you selected when you open your account.
3. Extra Fess
Besides paying your credit repair loan amount you need to pay some extra fees as well. There have some extra fees; a one-time refund administrative fee, a finance charge.
General FAQs and answers about Self Financial Inc
I hope you guys already get some basic ideas about the credit repair loan provider company. Now you may have some questions in your beautiful mind. Well, no worries about that I am here to answer all of your valuable questions.
What is Self Lender?
Self Financial, Inc is mostly known as Self Lender. It is an online loan provider company that offers you a loan to build your credit (FICO) or restore your damaged credit. Self Lender is based in Austin, Texas, US. They have 12 and 24-month term loans. They also provide Visa Credit Card.
How Does the Self Lender Work?
After getting approval of the loan application. Self Lender will deposit the approved loan amount into your savings account or certificate of deposit (CD). Once the loan balance is paid off the service provider (loan provider) will unlock the CD or your savings account and return the total money and they will deduct some administrative fee. So the thing is you can not use the money today.
How much money does Self Lender give a loan?
Self Financial, Inc lends a minimum of 520 dollars and a maximum of 1663 dollars loans to build up your credit score or restore your damaged credit. The monthly payment starts at 25 dollars a month and up to 125 dollars. Once the loan is paid, the savings account or the CD will be yours, including interest.
When I Can Withdraw From Self Lender?
Once your loan amount is paid off the Self Finacical Inc will unlock your certificate of deposit account and you will receive a check with interest.
How Much Does Self Lender Raise Your Credit Score
This is one of the most common questions about Self lender, how much does Self Lender raise your/my credit score. The answer is simple- generally, it increases 30 to 60 points but it could raise as high as 100 points.
Is Self Lender Legitimate Or A Scam
Self-Lender is 100% legit not a scam. Besides credit builder loans they also have Self Visa Credit Card. Self Financial, Inc was founded in 2014 by Conor Swanson and James Garvey. They are based in Austin, Texas, US.
How To Apply For Self Loan?
The application process is pretty simple and easy. You have to do everything online. No need to worry about that. If you want to apply for a Self Loan you must have 18 or more years old and a US citizen. Just visit Self.inc and enter some basic information like email address, phone number, SSN or Social Security Number, a valid permanent US resident, and physical address.
Remember, it will ask you to link your account for electronic payment for monthly payment purposes. If you accept their invitation I mean if you use a debit card, they will charge a convenience fee of 0.30 dollars, plus 2.99% of the amount of the payment.
Self Lender Visa Credit card
Self offers visa credit card. But if you want to own a Self Visa Credit card you must have a Self Credit builder account and you have to make at least 3 payments on time. You can get your first credit card with a minimum 100 dollars security deposit.
Customer Service Number
Self Lender provides customer support via Facebook Page, email, live chat (8 AM to 5 PM). Email Address is: firstname.lastname@example.org
Self Lender Competitors/Alternatives
There have dozens of Self Lender alternatives that will help you to build or repair your FICO score. The best alternatives of Seld Lender are Credit Strong, NerdWalle, Credit Sesame, Nav.
Self Lender VS Credit Strong
Though Credit Strong and Self-Financial INC help you to build or repair your personal credit score or FICO score. The main differences between Self Inc and Credit Strong are The Self-deposit loan into the certificate of deposit (CD) and a Credit Strong account deposit into a savings account.
Self Lender Dropped My Credit Score
Is Self Lender dropped your credit score? Well, I hear some Self account holders claim that Self Lenderdropped their credit score. No worries we have solutions for you. There has some reason to drop your credit score. The first reason is if you don’t pay in time you will lose your credit score. So if you forget about your payment you can set up a reminder to get rid of this problem.
If you don’t pay your debt lender may see it as risky behavior. Always try to pay your debt first. A hard credit poll is one of the main reasons for dropping your credit score. If you shop around for loans lenders will pull your credit and you will lose your credit score. But Self Lender uses a soft credit check.
This is another upside of Self Finacical Inc. They have a referral program. It means if you refer your friends and if they create an account to Self you will earn 10 dollars when they complete their first successful credit-builder account payment. To join the Self-referral program you must have an existing account. Just share your unique URL with family and friends. In this method, you can earn some extra referral income.
What is the credit score or FICO score?
Fico Score is a three-digit number based on the information in your credit reports. It is also known as a personal credit score. Generally, a FICO score helps lenders to find out how likely you are repaying your previous loans.
This was about Self Financial Inc. If you really wanna improve your personal credit score or restore your damaged credit score you can take this credit to reair a loan today. Whatever, if you guys have any questions feel free to ask me.
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