Routing# 262275835
At first glance, building credit can seem like a challenge. How can you get the credit you need when you have little or negative credit history to start with? Don’t get discouraged; there are many ways you can build, rebuild, or improve your credit. The more you practice good credit habits, the more your credit history will improve – helping prepare you for the future financing you may need.
Redstone has great ways to help you build your credit. These loans have no minimum credit score required and no prepayment penalties.
A secured credit card works just like an unsecured card, but it’s guaranteed upfront by a cash deposit. For example, if you deposit $500, that’s your credit limit. Making on-time payments and keeping a low credit card balance helps your credit-building.
Borrow Up To |
Variable Rate as Low as |
Annual Fee |
Ideal For Those Who |
|---|---|---|---|
|
$5000 |
% |
$0 |
Want immediate access to funds and can pledge savings upfront. |
When you take out a credit builder loan, you'll gain access to the funds after the loan is paid off in full. This is the reverse of traditional personal loans, which disburse the money up front in a lump sum. Credit Builder Loans help you establish a payment history (which makes up 35% of your credit score).
Borrow Up To |
Fixed Rate as Low as |
Flexible Terms |
Ideal For Those Who |
|---|---|---|---|
|
$1500 |
% |
12-24 months |
Don’t need immediate access to funds and want to earn dividends on their savings |
A Secured Loan gives you the freedom to fund anything you want without having to dip into your savings or withdraw your certificate. The money in your account or certificate will continue to earn dividends, and you get a great low rate.
A Short-Term Loan from Redstone helps you get by when cash is tight. You don’t have to pay the high rates and fees that payday lenders often charge.
Your credit score is used by lenders to decide if they’ll approve you for a credit card or loan and is an indicator of how likely you are to repay debt. Credit scores are generated using information from your credit report and proprietary scoring models. FICO is a credit score model used by most top lenders. If you are enrolled in online banking with Redstone, your FICO score3 is available for FREE. You can check it an unlimited number of times without it impacting your score.
Also, remember to review your credit report annually to ensure the information is accurate and correct any potential inaccuracies that may impact your credit score. You can get one free credit report each year at annualcreditreport.com.
Membership required. Click here for details. All loans subject to credit approval. Rates, terms, and conditions are subject to change without notice. Other restrictions may apply. Annual Percentage Rates current as of October 2024. Visa is a registered trademark of VisaInternational Services Association.
1Share Secured Visa: Co-borrowers are not permitted. Up to three authorized users may be named. See rates, fees, and other cost information.
2Credit Builder Loan: Minimum loan amounts may apply. Payment example: For $1,500 borrowed over 24 months Annual Percentage Rate (APR), you'll pay 23 payments of $66.05 and a final payment of $65.88.
3FICO score availability based on account status.
Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.