Credit Builder
Build or rebuild your credit with ClapPay Credit Builder.
What Is Credit Builder?
A tool to build credit history:
- Make small monthly payments
- We report to credit bureaus
- Your credit score improves
- At end, you get your money back
How It Works
Step 1: Choose Amount
Pick your goal:
- $300 over 12 months ($25/mo)
- $600 over 12 months ($50/mo)
- $1,200 over 12 months ($100/mo)
Step 2: Make Payments
Each month:
- Payment amount debited from your account
- We report on-time payment to bureaus
- Money held in savings
Step 3: Build Credit
Over time:
- Payment history builds
- Credit score typically improves
- Average improvement: 30+ points
Step 4: Get Your Money
At the end:
- Receive your saved payments
- Minus small fee
- Use for anything
Who Is It For?
- No credit history
- Rebuilding after issues
- Thin credit file
- Young adults starting out
No Credit Check
We don't check your credit to apply:
- Anyone can join
- No impact on score
- Approval based on bank account
What Gets Reported
To all three bureaus (Equifax, Experian, TransUnion):
- Monthly payment history
- On-time or late
- Account status
Cost
| Plan | Monthly | Fee | You Get Back |
|------|---------|-----|--------------|
| $300 | $25 | $6 | $294 |
| $600 | $50 | $12 | $588 |
| $1,200 | $100 | $24 | $1,176 |
The fee covers admin and credit reporting.
Tips for Success
Pay on Time
Most important factor for credit:
- Set up autopay
- Never miss a payment
- On-time = positive report
Complete the Program
Best results come from:
- Full 12 months
- Consistent payments
- Don't cancel early
Monitor Progress
Track your score:
- Free credit score in app
- Watch it improve monthly
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