Self Financial Public Community (2024)

FAQs

Why is my self card being declined? ›

Your minimum payment is past due.

The card balance is over the credit limit. Log in and pay the card balance down below the credit limit to use your card again. It may take up to 5 business days for your available credit to update and your card to unlock.

Accounts may be deemed inactive if there aren't any new purchases on the card for a certain period of time.

Self Credit Builder Loan Overview

Self claims that the average customer raises their credit score by 49 points. Self's credit builder loan is one of the few credit-builder loans available in all 50 states. Self offers four payment plans between $25 - $150 monthly, all of which take 24 months to complete.

While we'd hate to see you go and miss out other credit-building tools like potentially accessing the Self Visa® Secured Credit Card, you can close your Credit Builder Account via our automated phone system.

You've reached your daily purchase limit. Your debit card expired or is inactive. The bank finds the purchase suspicious. Your card is suspended.

Self doesn't have income restrictions to apply, but you may be denied if you have negative marks on your ChexSystems report.

While we're not able to reopen a closed Self Credit Builder Account, you are welcome to log in and apply for a new account, with a few exceptions.

Log in and pay the card balance down to below the credit limit to use your card again. We detected unusual activity and locked your card to protect you from unwanted charges. You may receive a phone call, text message, or email asking you to verify transactions. Please reply to that message to unlock your card.

How to activate your credit card by phone. If you prefer to activate your credit card via phone, call the number on the activation sticker attached to your card — or, if the credit card issuer doesn't provide a separate activation phone number, call the number on the back of your card.

Does paying more on self build credit faster? ›

Choose a payment plan that's right for your budget

With the Self Credit Builder Account, you can typically choose to deposit $25, $35, $48 or $150 per month over a 24-month term (length may vary). However, taking on a larger loan doesn't necessarily mean you'll build or rebuild your credit faster.

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.

Self loan fees and penalties

Payments 15 days late or more incur a fee of up to 5% of the scheduled monthly payment. Payments that are 30 days or more past the due date will be reported to the credit bureaus, likely damaging your score.

Closing early could limit the potential benefit of building payment history to your credit score, and your score could fluctuate.

Your length of credit history, which includes the average age of your credit accounts, is a major factor in your credit score. By paying off your Self loan early, you limit the length of credit history that gets added to your credit report.

The phrase “when your card declines at therapy” has opened up conversations about trauma among TikTok users. In a new trend on the app, users describe the hypothetical situation of their payment method getting declined at therapy – prompting their therapist to “give back” the trauma they've shared in the session.

You may have reached the $350 daily limit. The maximum amount for a single transaction is $250 and you may be exceeding this limit. You may have had insufficient funds available in your funding source at the time you attempted the transaction with the merchant using your virtual card.

If a user enters the wrong card number, expiration date, or CV value, the card payment system cannot verify the type of card used. As a result, the system may fail to recognize the card issuer or the card type, resulting in a Card Type Verification Error.