Self app is a mobile app that helps users build credit and savings at the same time. It is owned and operated by Self Financial, Inc., a fintech company based in San Francisco, California. The app was launched in 2016 and is available in all 50 states.

Updates

Self app is constantly being updated with new features and improvements. In 2023, the company added the following updates:

• Credit score monitoring and alerts: Users can now track their credit score and receive alerts when there are changes.
• Self Pay: Users can now use Self Pay to pay their rent, utilities, and other bills with a credit card. This helps users build credit without having to take on new debt.
• Self Credit Builder Account: The Self Credit Builder Account is now available to users with credit scores as low as 300.

Brief

Self app is a great option for people who are looking to build their credit or improve their credit score. The app is easy to use and offers a variety of features to help users reach their financial goals.

Features

• Credit Builder Account: The Self Credit Builder Account is a secured credit card that helps users build credit. Users deposit money into the account, which is then used as their credit limit. On-time payments are reported to the credit bureaus, which can help improve a user's credit score.
• Self Pay: Self Pay allows users to pay their bills with a credit card. This helps users build credit without having to take on new debt.
• Credit score monitoring and alerts: Self app users can track their credit score and receive alerts when there are changes.
• Educational resources: Self app offers a variety of educational resources to help users learn more about credit and how to build it.

Pros

• Easy to use: Self app is easy to use and navigate.
• Affordable: The Self Credit Builder Account has no monthly fees and a low minimum deposit.
• Flexible: Users can choose how much money they want to deposit into their Credit Builder Account and how long they want to repay their loan.
• Educational resources: Self app offers a variety of educational resources to help users learn more about credit and how to build it.

Cons

• High interest rates: The Self Credit Builder Account has a high interest rate, so it is important to pay off the loan in full as soon as possible.
• Limited features: Self app is a relatively new app, so it does not have as many features as some other credit-building apps.

Conclusion

Self app is a good option for people who are looking to build their credit or improve their credit score. The app is easy to use and offers a variety of features to help users reach their financial goals. However, it is important to be aware of the high interest rates associated with the Self Credit Builder Account.

Overall, Self app is a good option for people who are looking for a convenient and affordable way to build their credit.