Best Credit Builder Loans in Washington, D.C.
Published: 8 July 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 the nation's capital, 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
DC Credit Union
Avg. Principal: $2,500
Avg. APR: 8.99%
Avg. Length: 12 months
DC Credit Union's unsecured credit builder is surprisingly competitive. Borrowers with subprime credit essentially tap into a "normal" loan for $2,500 over a 12 month period, providing them not only access to funds but also a viable tool to boost their score.
Best from Bank (Physical)
BMO Bank
Avg. Principal: $1000
Avg. APR: 12.24%
Avg. Length: 42 months
Best from Credit Union
DC Credit Union
Avg. Principal: $2,500
Avg. APR: 8.99%
Avg. Length: 12 months
Best from Digital Lender
Cheese
Avg. Principal: $1,250
Avg. APR: 10.5%
Avg. Length: 12 months
Best Washington, D.C.-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Washington, D.C.
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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