Credit Strong: The Cheapest Installment Loan/Savings account on the Market

A few days ago I wrote about KOVO Credit, a financial institution that will report your payments to all 3 credit bureaus for $10 a month on a 2-year commitment. By far, it is the cheapest option for anyone looking to establish or rebuild credit on a small budget.

This week, we'll dig a little deeper into the installment loans I used to rebuild my credit file that helped my score improve from a 510 to a 640 in less than 6 months!

Introducing Credit Strong

Credit Strong's best benefit is how accessible to anyone who might be on a tight monthly budget and how you may get most of the money back that you contribute towards your monthly payments! $15 a month. Yes, you read that right. Fifteen dollars is the total monthly cost of this credit-building loan.

The best part is that you get most of your money back! What the company does is grant you a loan and place it in a savings account under your name. They'll make their profit off of the interest that accumulates in the savings account and the payment processing fees. Whenever you're ready to cancel they'll give you back what you have accumulated in your account with a small fee.

To top it off, there is no term commitment. You can cancel at any time.

All in all, I recommend Credit Strong to anyone who might be wanting to take baby steps towards their credit goals and whoever might be on a tight budget.

Check them out at www.creditstrong.com