Best Credit Builder Loans in North Carolina
Published: 8 February 2024
Author: Noah Gomez
Finding the right credit builder loan takes time and effort, and sometimes local institutions offer better terms than national offers. In North Carolina, we looked at over 20 banks, credit union, and online providers to find the most cost-effective and quality options in the market.
Best Overall
Summit Credit Union
Avg. Principal: $3,000
Avg. APR: 9.5%
Avg. Length: 36 months
At 36 months and an average principal of $3,000, Summit Credit Union's credit builder is slightly more powerful than the national averages, but it's coverage of over 300+ organizations across the state and 9.5% APR make it a much more competitive offer than other credit unions that have limited membership potential, such as Duke credit union and it's association with the university.
Best from Bank (Physical)
Regions Bank
Avg. Principal: $1,625
Avg. APR: 5%
Avg. Length: 12 months
Best from Credit Union
Summit Credit Union
Avg. Principal: $3,000
Avg. APR: 9.5%
Avg. Length: 36 months
Best from Digital Lender
Magnum
Avg. Principal: $6000
Avg. APR: 7.42%
Avg. Length: 66 months
Best North Carolina-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in North Carolina
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