Cheese Credit Builder shut down in February 2024. If you’re looking for a similar credit-building loan with no credit check and that reports to all three credit bureaus, we recommend Self.
Credit Builder Loans (no longer available)
- Payments reported to all three major credit bureaus
- No admin or membership fees
- No credit check to apply
- Charged interest rather than a flat monthly payment
- Larger deposits don’t necessarily build your credit faster
| Rates (APR) | 5%, 9%, 12%, or 16% (varies by state) |
| Initial deposit | $500, $1,000, or $2,000 |
| Repayment terms | 12 or 24 months |
Cheese Credit Builder shut down in early 2024, so you can no longer apply for a loan through the app. But if you’re looking for a similar way to build credit with no hard check and payments reported to all three credit bureaus, several great options are available.
In this guide, we’ll explain how Cheese worked, why it shut down, and which credit builder apps offer the same (or better) features in 2026—including Self, Chime, and MoneyLion.
Best for Added Benefits
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Credit check?
None
Reports to all 3 bureaus?
Yes
Monthly cost
~$25
Savings-style loan?
Yes
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Best Credit-Building Card
Credit check?
None
Reports to all 3 bureaus?
No
Monthly cost
No fees
Savings-style loan?
No (offers secured card)
Best for Banking + Credit Building
Credit check?
Yes (soft pull)
Reports to all 3 bureaus?
Yes
Monthly cost
From $19.99
Savings-style loan?
No
Is Cheese Credit Builder still available?
No, Cheese Credit Builder is no longer available. The company stopped accepting new applications in early 2024 and ceased operations shortly after. Existing customers were notified of the shutdown and promised a return of their secured funds.
Why did Cheese shut down?
Cheese shut down due to what appear to be business and operational challenges. While the company didn’t publicly announce a reason, it quietly discontinued its credit builder product and removed public-facing application links in early 2024. Customers with active loans were notified via email and instructed on how to access their funds.
This isn’t uncommon—smaller fintechs may struggle with profitability or scaling regulatory compliance.
How Cheese worked (while operational)
Cheese offered a credit builder loan, a savings-based installment loan that helped users improve their credit.
- Loan funds were held in a secured savings account instead of disbursed to the borrower.
- Borrowers made fixed monthly payments (with interest) over 12 or 24 months.
- On-time payments were reported to all three credit bureaus: TransUnion, Equifax, and Experian.
- At the end of the term, users received the loan amount back, minus interest.
Cheese required a connected bank account and Social Security number but did not run a credit check.
Pros and cons of Cheese Credit Builder (while operational)
Pros – What we liked
- Easy-to-use mobile app
- No credit check required
- Low interest rate
- No fees
- Multiple loan options
Cons
- Limited availability
- Checking account required
- Customer service
Alternatives to Cheese Credit Builder loans
Cheese Credit Builder helped many borrowers build credit without a credit check—but the service shut down in early 2024.
If you’re searching for an alternative, we recommend these options:
Best for Added Benefits
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Credit check?
None
Reports to all 3 bureaus?
Yes
Monthly cost
~$25
Savings-style loan?
Yes
Terms & Disclosures
- Sample loans: $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. Variable admin fee of $1-$5 may apply. See self.inc/pricing.
- Self is not a bank. Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC, see more at FDIC coverage. Subject to approval.
- Secured Self Visa Credit Card issued/held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., each Member FDIC. See self.inc/visa-secured-credit-card for details including important rate and fee information. Qualification for the secured Self Visa Credit Card is based on meeting eligibility, including income and expense requirements and establishment of minimum $100 security interest. Criteria subject to change.
- Results may vary. You may not receive an improved credit score based on your financial behavior, including missed payments with Self credit products and activity with other creditors. The ability to obtain a loan/mortgage may be dependent on a number of factors. Credit score is only one of those factors.
- The Credit Builder Account is not a savings account. This figure reflects the amount of money 678K Self customers got back (minus interest and fees) after making monthly payments to Credit Builder Accounts that reached full term between 8/6/18 to 7/16/23.
- Average outcome after 12 months for customers who opened a 24 month Credit Builder account, starting VantageScore under 600, who made on-time payments. Other factors, including activity with other Self products and other creditors, may impact results. See details.
- Other factors, including activity with other creditors, may impact results. Failure to make monthly minimum payments by due date may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. Self is not a Credit Repair Organization. Self does not remove negative credit history from credit reports. Self products are not intended to provide advice or assistance related to a consumer’s credit record or history.
Best Credit-Building Card
Credit check?
None
Reports to all 3 bureaus?
No
Monthly cost
No fees
Savings-style loan?
No (offers secured card)
Best for Banking + Credit Building
Credit check?
Yes (soft pull)
Reports to all 3 bureaus?
Yes
Monthly cost
From $19.99
Savings-style loan?
No
Each of these apps offers core features like no hard credit check, on-time payment reporting, and easy mobile access. They’re great options for anyone looking to improve their credit score affordably and safely in 2026.
How to choose a credit builder app
When comparing credit builder apps, look for these features:
- No hard credit check: Helps you apply safely without hurting your score.
- 3-bureau reporting: Maximizes your chances of boosting your credit.
- Low or transparent fees: Avoid apps with hidden charges or expensive memberships.
- Progress tracking and alerts: Help you stay on top of your credit growth.
- Secured card add-on: Useful if you want to keep building credit after your loan ends.
Check out our best credit builder apps list to compare top-rated options.
FAQ about credit builder loans
Can I get a credit builder loan with no credit check?
Yes, many credit builder apps don’t require a credit check. For example, Self allows you to apply with no hard inquiry, making them accessible to users with poor or no credit history.
Do credit builder loans get reported to all three bureaus?
Not always, but we find that the the best apps do. Reporting to TransUnion, Equifax, and Experian gives you the best chance to build a strong credit profile.
What if I don’t have a bank account?
Most credit builder apps require a linked checking account for payments and security reasons. However, some may allow prepaid debit cards or offer in-app savings accounts. If you’re unbanked, look for alternatives like Chime + Secured Card, or use a fintech account that functions like a bank.
About our contributors
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Written by Rebecca NeubauerRebecca Neubauer is a personal finance and science writer who specializes in writing about managing money, sustainability, entrepreneurship, and alternative living. She has a bachelor’s degree in environmental science, and she learned about personal finance on her journey to pay off $100,000 in student loans.
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Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.