Self Financial Public Community (2024)

FAQs

Is self-financial legit? ›

Additionally, the Better Business Bureau gave Self an F rating for the high volume of complaints the company received. Customers on Self's BBB page gave the company an average of 3.37 stars out of five across nearly 600 reviews. The company fares worse on Trustpilot, receiving an average of 1.8 stars.

If you're wondering, “why is my self credit card declined?” here are a few possible reasons. There's a hold on your card, placed by a rental car provider, hotel, restaurant, gas station, or other merchant.

On average, consumers see a 32-point increase in their credit score from the Self Credit Builder Account. But the change in your credit score may be more or less significant. It depends on your credit profile, credit history, how long you keep the Credit Builder Account open and if you make timely payments.

Seen in Public Community. Many people who are young, new to the U.S., or those who have never applied for a loan or credit card do not have a credit score. If you do not see a credit score in your Self dashboard, then it could mean you are one of the 26 million “credit invisible” adults in the U.S.

(If you need access to money immediately, consider getting a personal loan instead.) Once you finish your account, it takes up to 3 weeks for your money to arrive, depending on the payout method you chose.

The maximum secured credit limit you'll be able to get with the Self Visa credit card is $3,000. That means the maximum amount of money you're allowed to move from your Credit Builder CD to your Self Visa is $3,000.

Cash advances are not available on the Self Visa ® Credit Card or Self Plus Credit Card. Instead, buy something directly using your Self card anywhere in the U.S. Visa is accepted, then pay your credit card balance by the due date.

Your card may be declined for a number of reasons: the card has expired; you're over your credit limit; the card issuer sees suspicious activity that could be a sign of fraud; or a hotel, rental car company, or other business placed a block (or hold) on your card for its estimated total of your bill.

Can I end my self-loan early? ›

After all payments are made, you get access to the money minus the finance charges (the administrative fee and the interest you are charged). If you decide to close your account before it's paid off, you can access the money in the CD, minus fees and interest, and the amount you still owe.

How long does it take to build credit from 0? The time it takes to build good credit can be different for everyone. But it generally takes about three to six months to get your first credit score. The timing depends on factors like what your credit scores are now and how you're managing your debt.

Credit isn't a one-and-done thing, so if you finish your Self account and don't keep building credit after, your credit score may take a hit.

Since the Self Visa Credit Card account is separate from the Credit Builder Account, we report it as a separate tradeline to the 3 major credit bureaus — Experian, Equifax, and TransUnion.

A poor FICO credit score might be considered less than 580. A poor VantageScore credit score might be 600 or less, with very poor scores being 499 or less. It's possible to improve a bad credit score by using credit responsibly. That means doing things like paying bills on time and reducing overall debt.

Self helps you to build or rebuild your credit by reporting your timely payments to all three credit bureaus, but it reports late payments, as well. If you're not careful, you may find yourself in a situation where you're paying fees and interest to build your credit, only to find your credit score plummeting.

After all payments are made, you get access to the money minus the finance charges (the administrative fee and the interest you are charged). If you decide to close your account before it's paid off, you can access the money in the CD, minus fees and interest, and the amount you still owe.

Self Financial is a credit-building platform that works to increase economic inclusion and financial resilience through easy-to-use products that make building credit accessible."

Self reports on-time payments to the three major consumer credit bureaus, Equifax, Experian and TransUnion, which makes its credit-builder loan a good way to build credit — as long as you make payments on time and in full. Self says this loan is ideal for anyone with fair to poor credit.