Best Credit Builder Loans in New Mexico
Published: 6 July 2024
Author: Noah Gomez
Finding
the right credit builder loan can be challenging. You may be tempted to
choose a popular national offer, but local institutions often propose better terms.
In New Mexico, we looked at
over 20 banks, credit unions, and digital lenders to find the most
competitive options on the market.
Best Overall
ZIA Credit Union
Avg. Principal: $1,000
Avg. APR: 17.5%
Avg. Length: 12 months
ZIA is the only true "New Mexico only" credit builder loan we identified. It's a standard 12 month $1k offer from a trustworthy institution. That said, the APR is about 10% above the national average at 17.50%.
Best from Bank (Physical)
Magnum
Avg. Principal: $6000
Avg. APR: 7.42%
Avg. Length: 66 months
Best from Credit Union
GECU Credit Union
Avg. Principal: $750
Avg. APR: 5.5%
Avg. Length: 12 months
Best from Digital Lender
CreditStrong
Avg. Principal: $1050
Avg. APR: 15.62%
Avg. Length: 36 months
Best New Mexico-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in New Mexico
Thick Credit is not a credit repair organization, a credit conseling agency, or a debtor education providor. It does not act on your behalf to communicate with credit reporting agencies or provide pre-bankruptcy credit counseling and pre-discharge debtor education for bankruptcy.
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