 TITLE: Can a Lending Circle Help You Build Credit? CONTENT: Alternatives to Lending Circle Loans\n------------------------------------\nMany loans and credit cards can also help you establish or build credit. When researching options, make sure the loans and cards you're considering report payments to the credit bureaus. If you're just getting started or rebuilding your credit, you could look into:\n*   **Secured credit cards****:** Secured credit cards work like regular credit cards, but the issuer requires a refundable security deposit in case the cardholder stops making their payments. You can get the deposit back after closing your account if it's in good standing. Some cards, like the Secured Mastercard® from Capital One, may refund the deposit as a statement credit and let you upgrade to an unsecured version after you've used the card responsibly.\n*   **Credit-builder loans****:** A credit-builder loan is an installment loan that lets you build savings and credit. When you take out a credit-builder loan, the loan proceeds are typically set aside in a savings account. Your loan payments get reported to the credit bureaus, and you'll receive the set-aside funds once you pay off the loan.\nIf you're looking for a loan because you want to borrow money (and not just build credit), an unsecured personal loan could be an option. Some lenders, such as Avant and LendingPoint, work with borrowers who have fair credit. Repaying the loans on time can help you improve your credit.\nIt's generally best to avoid other options that don't require a credit check, such as payday loans. In addition to being much more expensive than other options, payday loans don't get reported to the credit bureaus—meaning they won't help your credit even if you repay the loan on time. END