Who is Self Lender? A New Age of Credit Building

Who is Self Lender? A New Age of Credit Building

Jan, 17th 2017

Before I begin on my quest to work with Self Lender, I must clarify my position regarding doing online business. I am naturally skeptical of any company looking to capture my business especially when it involves my personal identifiable information. I usually ask, “What type of business model are they using to show how they can help me, but creatively siphon money out of my pocket?” Cautiously, I engage their model to determine if my question is answered or if I can check them off as credible. 

Initially, my first impression of Self Lender is an inviting site, with easy to digest information, and a clear label of what their intent is. “Build credit while you save,” is the first text I read. Fair enough, so I engage. 

One common theme I can immediately recognize is how remarkably simple the entire process is. Since this is a credit building system, information regarding social security number, questions about past history to verify identity, and current contact information is requested; nothing new here. What I found enjoyable though is the ease of moving through each page with clear and concise instructions. At no point was I stuck on how to answer or move forward. 

Once finished with the initial setup, Self Lender then gives me a personal dashboard to review information about my credit score, tabs to update information, and even an instant contact pop up to communicate directly with a support member in real time. The dashboard is user friendly and the layout is ascetically pleasing to maneuver through. “Okay Self Lender,” I think to myself,  “my defense shields are down and you have piqued my interest.”

So far I have received my credit score for free (well they do have my PII, but I’m confident in their company now), I have access to the national and the state average credit score, access to a  section dedicated to what appears to be news regarding financial tips and information, and lastly a giant, green, inviting button asking if I will be willing to sign up for their credit building program. Upon the initial profile setup, I was not automatically enrolled, allowing me to reconsider my decision to move forward. I can walk away if I so choose, giving me a way out. But again my interest is piqued! 

Next is my credit building enrollment adventure. I click the giant, green, inviting button. I go through a series of prompts which educate me on the process of how my credit will be built in the coming year. In short, I have applied for a loan of $1,100 from an outside Texas Bank, enrolled to automatically pay $97 per month for 12 months, and a nominal fee of $12 to start. At the conclusion of the 12 month program, my credit will likely increase and I will have saved $1,100 which will be accessible exactly one year from now. Note* the $1,100 is actually placed in a CD and not accessible until the conclusion of the term. It was easy, safe and a true “Win-Win.”


Self Lender has opened a new avenue for those with marginal to bad credit. The idea is to develop good repayment habits while paying a small fee to essentially increase your credit score in a secure manner. Even people with good credit could apparently get a score bump using the service. Self Lender’s model is a great concept, it’s easy to enroll and has the flexibility of different loan amount options. I have actually found their method of engaging me as a user incredible and refreshing amidst the traditional banking method. I am looking forward to how Self Lender will impact my credit score and will report back periodically on my trek to increase my credit score.

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