Credit-builder cost calculator
Put in your own numbers and see the arithmetic laid out line by line, in dollars.
- Monthly payment$28.14
- Interest over the term$350.77
- Fees$0.00
- Released to you at the end (the loan amount)$1,000.00
With a credit-builder loan you repay money you only receive at the end. The cost is the interest and fees, not the payments themselves. Missed payments are reported too.
US prices read 29 October 2026. Default: a $1,000 credit-builder loan at 15.61% APR over 48 months (an illustration, not a quote; an APR already includes the lender’s fees).
How it works
The calculator uses only figures each provider publishes. Where a fee is not published, the row says so and the figure leaves it out, which is why such a row ranks after every fully priced one. Introductory discounts are ignored because they end; tax is excluded because it depends on you.
This is a planning tool: it works on the numbers you enter and does not rank providers. The comparisons explain how their lists are ordered, and the full method is on how we rank.
Credit-builder apps and loans in the US (2026): costs compared
Credit-builder loans, plans and reporting tools compared on yearly cost, the bureaus they report to and whether they run a credit check.
Guide · US & UKHow credit-builder loans work, and what they really cost
A credit-builder loan holds the money you borrow as savings until you have repaid it. Here is how it works, what it costs, what the research found, and the alternatives.