Best Credit Builder Loans in Virginia
Published: 12 February 2024
Author: Noah Gomez
Finding the right credit builder for your needs is not easy. You have to consider size, length, interest, and availability in your state.
Virginia is surprisingly sparse in credit builder loans. In fact, we scoured over 30 different banks and credit unions to find a transparent offers, but we only found one: CommonWealthOne Credit Union.
Virginia borrowers can leverage a number of nationwide offers, including our top pick below.
Best Overall
Cheese
Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months
It's tough to find a credit builder at the national level under 12% APR within the accessible $1,000 - $2,000 range, especially one with terms ranging over 12 months, but Cheese's 12 - 18 months builder takes the cake for most borrowers.
Borrowers with excess cash or those who need to offset larger derogatory amounts can use one of the alternatives listed below.
Best from Bank (Physical)
M&T Bank
Avg. Principal: $51,000
Avg. APR: 8.37%
Avg. Length: 36 months
Best from Credit Union
Common Wealth One
Avg. Principal: $1,000
Avg. APR: 16.24%
Avg. Length: 12 months
Best from Digital Lender
Cheese
Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months
Best Virginia-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Virginia
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