Why was I charged a fee on my Credit Builder Account?
While you lock in your interest rate and pay a non-refundable administrative fee when you open your Credit Builder Account, some other account activities may cause fees, such as:
- 5% late fee, based on your monthly payment amount, if you’re 15 days or more past due
- $15 return fee for a failed payment from a bank account
- An expedited payment fee if paying by debit card
- A fee for closing your account early
Any payments made before your due date will first apply to outstanding fees then to the monthly payment amount. Any unpaid fees will be deducted from your final payout.
Important notes about fees:
- We can’t waive paid or partially paid fees
- We’re not able to waive fees on a closed account
- We do not report fees to the credit bureaus
What if I can’t make a payment? Please contact us so we can review your options.