 TITLE: Everything You Need to Know About Credit-Builder Loans CONTENT: How Can a Credit-Builder Loan Help My Credit?\n---------------------------------------------\nA credit-builder loan is a type of installment loan, which has fixed monthly payments. Paying off installment loans on time contributes to healthy credit scores. In fact, payment history across all your accounts—including credit cards, student loans, auto loans and credit-builder loans—makes up 35% of your FICO® Score☉ , the largest share.\nCredit-builder loans help you build credit if you don't yet have any accounts, and they can help restore credit if you have negative marks, like missed payments, on your credit report. By making on-time payments, you'll show lenders you can be trusted to take on other lines of credit in the future. A good credit score—one that's 670 or higher, according to FICO's model—can get you access to rewards credit cards or loans at more favorable interest rates. END