Best Credit Builder Loans in Minnesota
Published: 3 July 2024
Author: Noah Gomez
Finding the right credit builder loan is not easy. In addition to amount, APR, and duration, you have to consider to which bureaus the loan reports, cancellation penalties, and more.
It's easy to look for nationwide offers because they're well-known, but Minnesota has several strong offers right at home in the Gopher state.
Best Overall
Affinity Plus Credit Union
Avg. Principal: $750
Avg. APR: 6%
Avg. Length: 12 months
At 6%, Affinity Plus's credit builder APR is well below the national 7+% average. Given that they offer 6 - 12 month terms on amounts from $500 - $1,000, this option is one of the more flexible and inexpensive ones in the nation.
Best from Bank (Physical)
Sunrise Banks
Avg. Principal: $625
Avg. APR: 17%
Avg. Length: 15 months
Best from Credit Union
Affinity Plus Credit Union
Avg. Principal: $750
Avg. APR: 6%
Avg. Length: 12 months
Best from Digital Lender
Prosper
Avg. Principal: $26,000
Avg. APR: 21.49%
Avg. Length: 42 months
Best Minnesota-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Minnesota
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