How It Functions
Throughout the lifetime of your Credit account that is strong develop both credit score and cost cost savings.
Once you start a Credit Strong account:
- Austin Capital Bank provides you with an installment loan and places the borrowed funds in a family savings in your title
- You don’t get the funds on one, they are instantly deposited into the savings account day
- A lock is put from the funds within the family savings to secure the mortgage every month you make just one, fixed month-to-month payment of principal and interest in the loan
- The major part of your loan re re payment is credited to the lock on the checking account as well as the interest percentage of your re payment is exactly how we cover the expenses of supplying the solution for you
- Through the term of one’s account we report your loan re re payment history to all the three major credit agencies and you also make interest on your own family savings balance
- If the loan is paid in-full, the lock is taken away through the family savings plus the funds become open to you