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One Easy Way to Build Great Credit

Portrait of a young couple
One of the things that makes adulting challenging is credit. You’ve probably heard you need to build good credit, but that can be challenging if you have a low credit score, or don’t have any credit at all. So, what can you do? You can open a secured credit card and adult super hard! (see what we did there?) What’s the difference between a secured and an unsecured credit card? Oh, thanks for asking. We were just about to answer that question. An unsecured credit card is one like our Visa Secured Platinum. The Centra Visa Secured Platinum has a low maximum ($2,000) and requires a cash deposit equal to the card maximum to open. The deposit is required so just in case you can’t make the payment as expected, there’s already money in your account to cover your expense. It’s a safe way for us to let you build your credit. The big difference between secured and unsecured credit cards is not only the down payment required to open, but also the fact that you can’t buy things you don’t already have the cash to purchase anyway. That can be tough, we know. Enter the Credit Builder Loan. A Centra Credit Builder Loan could be a great option for you if you don’t have much credit, but also don’t have the cash you need for a deposit and first month’s rent on an apartment (or whatever the case may be). You can get a Credit Builder Loan for between $1,000 and $5,000 and fixed monthly payments. Sounds like a win, huh? It is! If you want to talk to a Centra Team Member about your options for building great credit, swing in to your nearest Centra location or call our Contact Center at 1-800-232-3642. We truly can make adulting easy!

*The Credit Builder Loan (CBL) may be a loan for any amount between $1,000 – $5,000 with a 12.99% annual percentage rate and fixed monthly payments. The maximum term for a CBL between $1,000 – $2,500 is 18 months. The maximum term for a CBL between $2,501 – $5,000 is 30 months. Monthly payments include single life and disability debt protection. This coverage is optional. No modifications will be made to the loan amount, rate, or repayment terms. Use of funds is unrestricted. CBL requires auto debit from an active Centra checking account, as well as a valid email address. There is no loan application fee. Individuals may hold only one CBL at a time. All loans are subject to credit approval. This is a limited time offer subject to change at any time.

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