Other Credit Building vs BetterFi
Upfront deposit?
Sometimes
Always
No
Typical APR
15 - 36%
25 - 29%
11 - 15.32%
3 Bureau Credit Reporting
Yes
Yes
Yes
Example payment:
$42 every 2 weeks
Depends on Usage
$50 every 2 weeks
Cost of borrowing
$167
Depends on Usage
$50
Total paid in
$1,092
Depends on Usage
$1,050
Term
1 year
Open Ended
10 months
Receive at end
$925
Nothing
$1,000
$1,500 in 10 months
Total paid
~$174 / month
~$1,736
N/A
N/A
~$158 / month
$1,575
Online Credit Builder
Secured Credit Card
Often Monthly
Recurring fees?
Often Annual
No
~$217 / month
$1,000 in 5 months
N/A
~$205 / month
~$2,168
Total paid
N/A
$1,025
~$579
Total paid
N/A
$525
~$53 / month
$500 in 10 months
~$58 / month
N/A
Ready to build credit and your
Actual amounts could vary based on the frequency of and number of days before or between payments. Exact amounts rounded to the nearest dollar.
“Cost of borrowing” and “Paying down the loan” amounts estimated for first monthly payment.
BetterFi terms typically vary between 6 and 18 months. BetterFi’s maximum effective APR is 28% but rates vary between 10% and 28%.
Terms and conditions apply for any credit extended by BetterFi, and approval is not guaranteed. Nothing contained on this page constitutes a quote.