Why you should Avoid Credit Builder Accounts

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Credit Builder Services are new to the credit score improvement scene
Most of these services fall into the category of Predatory Loans or Services
Paying a company a fixed fee of 15% to have these companies hold your money for you is insane
If you already have more than 1 open account, your credit score will DROP 15-30 points as soon as you open the account.
Read the Reviews, 63% of the reviews are 1 Star for Self Credit Builder Loans
Read the Reviews for Kikoff Credit Builder APP, they are very predatory
Read the Reviews, 61% of the reviews are 1 Star for Credit Strong Credit Builder Loans

At the end of the so called loan, the account is marked as paid and closed
This will cause your Credit Score to drop, loosing all the points you had gained
All positive effects of the account disappear
You would have just taken 2 steps backwards
The amount of money you get back will be 15% less than what you paid

One well know credit builder loan service claims to have returned $500 Million in funds to credit builders.
This means they have profited close to $100 Million of your money