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Build your credit while you save.

  • No credit approval
  • No interest or upfront deposit
  • Just $9.99/mo. Cancel anytime
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“ I saw my credit score jump by 79 points with Credit Builder—in just the first month! I’d recommend Wolleta to any of my friends as an easy way to build credit. ”
Seamless experience

Why Wolleta !?

Designed for everyone

Whether you have no or bad credit, you can start building your credit in seconds with instant approval. No credit check needed.

Built to save you money

Forget about paying upfront fees, deposits, or interest. Members build credit by saving as little as $1 a month.

Made to build your credit fast

Build positive payment history – the single most important factor for your score.

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Get started in seconds

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Open a Credit Builder account

We’ll help you apply for a 24-month loan and keep the funds in a locked deposit account in your name. This starts building your credit history and improves your credit mix.

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Set aside as little as $1 a month

Choose how much you’d like to contribute towards your monthly payment. If you choose less than $25, the rest will be paid from your deposit account with the loan proceeds. Your contribution will become savings.

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Build payment history

Each payment is reported to the three major credit bureaus—Experian, Equifax, and TransUnion. On-time payments build positive payment history and your credit.

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Better credit, more savings

After 24 months, you’ll have paid off the loan. You’ll have shown positive payment history, built credit, and had access to all the money you contributed with your Credit Builder payments.


Frequently Asked Questions

Wolleta arranges a credit builder installment loan for you and deposits it into a brand new deposit account with Coastal Community Bank. Each month, the minimum loan payment is split in two: you choose an amount of your choice to contribute (any amount between $1 and $50), and the rest is paid from your new deposit account, which holds the loan proceeds. Each successful monthly payment is reported to the three major credit bureaus, building positive payment history. The portion of the payment that you contribute each month also adds to your savings, which you can access once your loan is repaid. Once the loan is repaid in full, you’ll have built positive credit history! You will also get back all the monthly payments you put in!
A credit builder loan with Wolleta is an installment loan that helps you build positive payment history, the most crucial factor for your credit score. The difference between a credit builder loan with Wolleta and a traditional loan is that the loan proceeds are held in a secure deposit account that we open in your name and can be used to help pay a portion of each monthly payment. This allows you to minimize the amount of money you need to contribute each month while still demonstrating positive payment history against a larger loan. We report every payment you make to the three major credit bureaus, helping you build up your credit by establishing positive payment history.
No. There is no credit check done as part of opening your Wolleta credit builder loan (and no minimum credit score required). Every month, we will report to the credit bureaus all account and payment information related to your loan, which will impact your credit score.
When you first open your credit builder account, you might see a small dip in your score. This is normal; it happens whenever new credit accounts are added to your report. As you start making monthly payments towards your credit builder loan, we report them to the three major credit bureaus, building positive payment history, the most crucial factor for your credit score
Wolleta’s credit builder account is designed to help you build your credit score fast by showing the credit bureaus positive payment history, the most crucial factor for your score. It also helps you grow your savings, as each payment that you make towards your minimum monthly payment is added to your newly established deposit account at Coastal Community Bank and given back to you once your loan is repaid in full.
Yes! Your credit builder payments and current credit builder loan balance are reported to all three bureaus, TransUnion, Experian, and Equifax, every month.
In order to open your credit builder loan, you must sign up for Wolleta Plus, which costs $9.99 a month, and commit to contributing at least $1 a month towards your monthly credit builder loan repayment. There are no other additional costs. No interest. No late fees. Nothing.
No. Wolleta does not perform a credit check when you open your credit builder account, and get your credit builder loan. We collect some personal information (like name, address, date of birth and SSN) in order to verify your identity, but we do NOT perform a hard credit inquiry, and there is no minimum score required to open the account.
Yes. Sometimes financial circumstances change, so we do allow you to cancel your credit builder account at any time. Should you choose to do so, any remaining loan balance will be paid from your deposit account, and any amount remaining may be sent to your connected bank account.
Your loan proceeds get deposited into an FDIC-insured deposit account in your name that only Wolleta is able to access. Wolleta uses these funds to pay the remainder of your monthly loan balance. Your contribution can be as little as $1—the difference between the amount you contribute and the amount that is due comes from the $600 loan in the locked deposit account. At the end of the loan term, your monthly contributions come back to you as savings. The $600 loan will show up on your credit report although you are not receiving the proceeds. This is how Wolleta helps you build your credit!
No. Unlike traditional personal loans or Wolleta Instant Cash, you do not have access to the money from your Wolleta credit builder loan. When your credit builder account is opened, the loan proceeds are held in a new, secure deposit account that we open in your name. You can access any funds remaining in your deposit account once your loan is paid off in full. Why? Your Wolleta secure deposit account is designed to facilitate on-time payments and establish a positive payment history, the most important factor for your credit score If you need access to money immediately, consider using Wolleta Instant Cash instead.
You can access your Credit Builder savings at any point by heading to the Credit Builder section in the Wolleta app and tapping on “Withdraw Funds.” From there, select the amount you’d like to withdraw, either a partial amount or the entire amount that you have saved up to this point. Keep in mind that the savings will be transferred to the checking account you have linked to your Wolleta Plus account.

Still have questions?

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