Your credit score plays a huge part in your life. It can influence being able to buy a car or home, get approved for a credit card, rent an apartment, and can even prevent you from getting a job. If you have bad credit, or none at all, accomplishing normal tasks like finding a place to live or getting a job can become very difficult.
Having bad or no credit can be fixed, and we want to help by offering our members our Credit Builder Loans. Whether you’re suffering from bankruptcy, missed payments, or just never built credit, Pioneer can help you get your credit to a high score.
How it Works:
- Pioneer loans you the money and uses those funds as the collateral for the loan while you repay it
- Loan funds are deposited into a Pioneer Savings Account where you’ll earn dividends at the current dividend rate for the account
- Your payment history is reported to the credit bureaus to help you rebuild a favorable credit score
- Once the loan is successfully paid, the money becomes available in your account
- No money or credit history is required
- We give you flexible payment amounts and terms
- You save money while building your credit
If you borrow $500 over 12 months and make on-time payments of approximately $44 per month, you will have established a new positive trade line with the credit bureau. Once the loan has been paid off, Pioneer will release the hold on the $500, and those funds will become available for you to use. You will have 'saved' $500 while you established or re-established good credit!
If you are looking to build your credit and want to learn more about Pioneer’s Credit Builder Loan program, stop by your local branch, apply for one online, or use the myPioneer Personal Assistant App to get started.
Apply for a Credit Builder Loan!