How It Works
CreditStrong offers two kinds of accounts: Installment and Revolving. These accounts are a fusion of a savings account and either a secured installment loan or a secured revolving line of credit.
CreditStrong installment accounts are cash-secured installment loans for building your credit.
When you open your installment account, the loan proceeds are originated by Austin Capital Bank and placed in a locked savings account, securing the loan. Each month, as you make payments, your activity is reported to the three major credit bureaus, building payment history that accounts for 35% of your FICO score.
Just like any other conventional loan, each payment is divided into principal and interest, with the principal portion going towards paying down your loan balance and the interest being the cost we charge for the service. Click here to review our installment product pricing.
At the end of your term, the principal portion of your payments is returned to you minus any unpaid interest or fees.
CreditStrong Revolv is a secured revolving line of credit designed to lower your utilization and build your credit while you save.
When you open a Revolv account, Austin Capital Bank extends you a secured revolving line of credit at 0% utilization, increasing your total available credit and lowering your overall utilization.
Set an optional monthly payment at 0% interest to maximize the benefits of your Revolv account by adding usage and payment history to the line of credit, all while you build savings.
Making three consecutive on-time payments of $10 or more will increase your total line of credit by $250, allowing your Revolv account to reach a maximum of $3,000.
CreditStrong installment accounts require a non-refundable administrative fee to start, and interest is charged on your principal balance. Administrative fees and interest rates vary by account. To view our installment pricing, head over to our Instal page.
Revolv accounts cost $99 per year*, and 100% of your optional monthly payments go towards building your savings. Read more on our Revolv page.
*Revolv is $99 per year, every year. Not just the first year, with no interest and no hidden fees.
Everyone’s credit profile is different, and knowing which account type is best can be hard, but here’s a quick guide on what you need to consider:
- If your credit is being hurt by high credit card balances, Revolv was designed to lower your utilization.
- If you only have one type of credit account (either revolving or installment), it’s good to add another type to improve your credit mix.
The most important thing, regardless of the types of accounts you have, is to pay them on time! Payment history is the largest factor in your credit score.
CreditStrong installment accounts have set terms. When you have paid your installment account off, your savings account is unlocked! You can either leave your money to earn interest or request a transfer of the funds.
CreditStrong Revolv accounts renew once per year. If you choose to close early or not to renew, your revolving line of credit will be closed, and you may request any savings balance you’ve built up to be transferred to you or leave your money to earn interest in your FDIC-insured savings account.
No problem! There are no prepayment penalties. Make additional monthly payments to shorten your term and save on interest, but keep in mind that payment history is the most important factor of your FICO credit score, and you may not get all the benefits by paying off early.
Rome wasn’t built in a day, and neither is strong credit!
Sure, though your $99 subscription pays for a full year, and monthly payments are optional! Log into your customer portal to set your monthly payment down to $0 if you want to take a break.
We’ve got you covered! CreditStrong accounts may be closed at any time.
When Installment accounts are closed early, we use the loan funds from your locked savings account to pay off your remaining balance. The savings account then unlocks;any leftover is yours to keep, and the loan is reported as paid and closed.
Revolv accounts may be closed early, though your subscription covers your entire year and monthly payments are optional. Log into your customer portal to set your monthly payments down to $0 if you need to take a break!
CreditStrong is a division of Austin Capital Bank, an FDIC-insured Texas State Savings Bank located in sunny Austin, Texas.
As an FDIC-insured financial institution, Austin Capital Bank is subject to rigorous federal and state oversight and is routinely examined by the FDIC and Texas Department of Savings and Mortgage Lending.
Of course! You may have up to two installment loan accounts, two Revolv accounts, and two business accounts at a time. Just log into your customer portal with your existing login information and look for the “Explore our Products” section to see what’s on the menu.
During the term of your installment loan, the savings account is locked, securing the loan. The funds are not available for withdrawal; however, when your loan matures or is paid off, the lock is removed, and you may request to have the available balance transferred to you.
No, the lines of credit and savings accounts created when CreditStrong accounts are opened are individual accounts and cannot be co-owned or transferred.
Trying to build credit for your dependent? Check out our newest innovation, FreeKick, designed to give families ID protection and credit building for teens to give them a head start.
A secured credit card can be a good way to build revolving credit. If you’re having a hard time getting an unsecured card, you’ll need a cash deposit to open one. Your secured credit card works just like a regular credit card, meaning you pay high interest on the balance you carry, and you need to manage your utilization, so you don’t hurt your score.
CreditStrong offers solutions to build installment and revolving credit without needing to put down a large deposit, and because Revolv can only be spent on your savings account, you can build payment history by saving, not spending.
Did you know it is illegal to operate some types of credit repair businesses in Georgia?
If you’re trying to repair your credit fast, credit repair services may seem like a great option. Even though credit repair agencies make big promises, they can’t guarantee results and often require you to pay up front for services you can probably do for free on your own.
Even after you pay hundreds, even thousands of dollars up front, nobody can remove correct information from your credit report, even if it reflects negatively on you.
CreditStrong offers the best way to strengthen your credit, empowering you to add bank credit and positive payment history to your credit profile at a low cost.
Applying for a CreditStrong Account
Applications only take a few minutes! If for some reason you aren’t able to complete your application, you can always pick up where you left off by coming back and logging in. Your application will remain open for 30 days from the day you started.
CreditStrong accounts are available in most states with the exception of Vermont and Wisconsin.
As an added note, as of July 15, 2021, CreditStrong is the only deposit-secured consumer credit building account for residents of New York that has been approved by the New York Department of Financial Services!
Nope! We don’t perform a credit check when you apply, so being denied for a CreditStrong account won’t do any harm.
If you’ve previously declined SMS alerts, text “START” to 850-850 to resubscribe.
You can also contact us via online chat or by phone at 833-850-0850 to review your account with you and ensure your phone number is correct.
If you continue to have trouble receiving SMS alerts, there may be an issue with your cell phone carrier. We recommend you contact your cell phone carrier to report the issue.
When opening a CreditStrong account, you are opening a bank account with Austin Capital Bank. We require your SSN/ITIN so we can verify your identity, provide your credit score to you, report your payment history to the three major credit bureaus, and pay you interest on your CreditStrong savings account.
Your password must be at least 8 characters long and include:
- At least one number
- Upper and lowercase letters
- At least one special character (e.g. #@$!)
- Cannot include spaces
- Cannot be the same as your username (email address)
The short answer: Yes! We report your payments and credit history to the three credit bureaus using your ITIN instead of an SSN. If you want to view your credit score with an ITIN, you must mail in a physical request to at least one of the three credit bureaus.
To request this information from Experian, they require the following information in writing.
The letter should include:
Personal information
Your full name as it appears on legal documents
Date of birth
Complete addresses for the past two years
Proof of your Identity:
A government Identification Card such as a driver’s license or state ID
A copy of one of the following documents:
Current utility bill
Bank statement
Insurance statement
Please mail your request to:
Experian
P.O. Box 9701
Allen, TX 75013
You will then receive your requested information via mail.
Questions? You can view more information here.
Eligibility
The following requirements are needed to open a CreditStrong account:
- You must be at least 18 years old and a permanent U.S. resident with a physical U.S. address
- A valid social security number or individual taxpayer identification number
- A checking account or debit card
- A mobile phone number
- An email address
As long as we can properly identify you, you are eligible! We don’t use any type of consumer report or credit report to determine eligibility, meaning we don’t pull your credit, and no minimum score is required.
There is no income requirement to open a CreditStrong account! We recommend you choose the plan that best fits your budget so you can set it and forget it while we do our work.
Nope! CreditStrong is designed to build credit, whether it’s from the beginning or building back from past damage.
You may be denied if we cannot verify your identity, if your administrative or subscription fee fails, or if your past banking behavior does not meet our product underwriting guidelines.
(NOAA) describing the reason(s) for the denial. If you believe there is an error which caused you to be denied, contact information may be included in the NOAA for you to resolve the error.
Can I reapply after being denied?
Depending on the reason you were denied, the answer may vary. For more information about your application please contact us.
Depending on the reason you were denied, the answer may vary. For more information about your application please contact us.
Before you reapply, we suggest reviewing your NOAA and resolving the reason you were denied before reapplying. You may reapply 30 days from the original application denial.
Credit Score and Reporting
We are proud to provide you with your FICO 8 score each month your credit builder is open. FICO 8 is the leading credit model used by 90% of lenders to make their consumer credit decisions.
Nope! Since CreditStrong credit builders are secured, there is no required credit score needed to be eligible for an account.
Yes! We report your payment history directly to the three bureaus; Experian, Equifax, and TransUnion.
Your CreditStrong account will be listed under “Austin Capital Bank SSB” on your credit report.
Typically, installment credit builders will be reported within 30-60 days of your first payment.
Revolv accounts are reported within 15 days of successfully making your subscription payment.
We provide your payment information to all three bureaus, but it can take them some time before they process the information and add your account to your credit report. Each bureau processes on their own time, so how long it takes for your account to appear and update each month may vary from bureau to bureau.
Everyone’s credit profile is as unique as their fingerprint, so there’s no way for us to determine exactly how much a CreditStrong account may benefit you.
The strongest credit profiles are all made up of a few things:
- On-time payment history
- A mix of account types (e.g. Installment, Revolving)
- Amounts owed
- Length of credit history
MyFICO has fantastic resources available online if you want to know more.
That’s okay! Occasionally, adding a new line of credit to your profile will cause a slight temporary dip in your score because it reduces your overall age of credit history. In these cases, it’s typical for your score to quickly rebound and increase as on-time payments are reported.
We pull your FICO 8 score monthly, and when you first open your account, you may not see a score for up to two weeks.
If you don’t see a score in your dashboard after two weeks, you may not have enough history in your credit profile to generate a FICO 8 score. New credit profiles may require up to 6 months of history to be established before a score can be generated.
Stick with it!
You can dispute an item on your report for free by mail or online. To dispute a posting online, click the reporting agency you would like to dispute with and fill out the application in its entirety.
It’s important to note that lenders, such as ourselves, are obligated by law to report your account activity accurately. Disputes should be reserved for inaccurate postings only; disputing accurate items will not result in their removal from your report.
If you would prefer to dispute via mail, you may contact us by mail at the following address:
Austin Capital Bank
8100 Shoal Creek Boulevard
Suite #100
Austin, Texas 78757
If your identity was stolen, you will need to complete a Federal Trade Commission Affidavit on www.identitytheft.gov and file a police report. You will need to send both of these documents, a copy of your identification, and a letter stating your identity was stolen by mail either to the financial institution or credit reporting agency.
Payments
The first payment for a CreditStrong installment account is due one month from your opening date. Revolv account payments are optional and, if activated, are due at the end of each billing cycle.
To view your payment due date, log into your CreditStrong portal and select the Accounts page.
You can make a manual payment from a few places in the customer portal.
- Scroll down on the overview page and click Make a Payment on the desired account
- Click the Accounts page and select your desired account, then click Make a Payment
- On mobile, click the top-left navigation menu, then select Make a Payment, or
- On desktop, click Make a Payment on the top right of the page
We recommend using AutoPay for your CreditStrong accounts so you never miss a payment.
To set up automatic payments:
- Log into your customer portal
- Navigate to the Accounts page from the main navigation, or select Account Details on the desired account from the overview page
- Select Update AutoPay Settings
- Select your desired AutoPay setting
Please note that when using a debit card, you will incur a convenience fee. To avoid this, you may link your bank account in the payment settings.
To change the method of payment used on your account:
- Log into your customer portal
- Navigate to My Profile
- Select Payment Methods
- Select Change Linked Payment Method
- Enter your new information
No, you’re only able to submit a payment for your current statement period, though you may make additional payments to shorten installment loan terms.
Remember, payment history is the largest part of your credit profile, so while there are no prepayment penalties, additional payments made will reduce the number of payments reported to the bureaus and could reduce the positive impact on your credit profile.
Rome wasn’t built in a day, and neither is strong credit!
Installment accounts require monthly minimum payments. If you don’t think you can make your payment within 30 days of your due date, we suggest you close your account and try again when the time is right.
Revolving accounts do not require a monthly payment. When your account is current and you do not have a payment due, you can set your monthly payment down to $0 to take a break!
We provide a 14-day grace period following your due date. If your payment is 15 days or more past due, you will be charged a late fee equal to 4% of the minimum monthly payment missed.
We’re here to help improve your credit, but if a loan payment is more than 30 days late, you will be reported late to the bureaus, and it may negatively impact your credit score.
If you don’t think you can make your payment within 30 days of your due date, give us a call. We might suggest you close your account and try again when the time is right.
Make sure the account you’re using has sufficient funds to cover the payment, and if you’re using a debit card, the convenience fee associated with the transaction as well.
If you tried to use a Savings or Money Market account to make your CreditStrong payment, your bank may have rejected the payment. These are considered non-transactional accounts and only allow limited withdrawals.
If you’re not certain why your payment was rejected, you will need to follow up with your bank to obtain more information as to why the transaction failed.
Please note that you may be charged a fee for returned or failed payments.
We recommend connecting your checking account to your CreditStrong account to make your payments. We also accept debit cards and prepaid cards. If you use a debit or prepaid card, you will be charged a convenience fee.
We do not accept payments from savings accounts, credit cards, or American Express.
Please note that you may be charged a fee for returned or failed payments.
My Account Information
To reset your password:
- Visit apply.creditstrong.com/password/reset
- Enter the email address listed in your CreditStrong profile
- You will then receive an email notifying you of the reset request
- Click on the green reset button in the email
- Once you get to the new screen, enter a new password that follows our requirements
- Confirm your new password
- Your password has now been reset!
If you are unable to reset your password or you don’t receive a password reset email, then please call us at 833-850-0850 during normal business hours Monday through Friday 8 A.M. to 5 P.M. Central.
You can check your balance, review account information, loan schedule, track your FICO credit score, and download account documents from your customer portal at www.apply.creditstrong.com/login
You bet! All CreditStrong accounts are a part of Austin Capital Bank, a 5-star rated FDIC Insured Texas State Savings Bank.
You may close your account at any time with no early cancellation penalties by contacting us via chat or by calling 833-850-0850.
If you’re having trouble making your payment on an installment account, you have 14 days before you incur any late fees and 30 days before being reported late to the credit bureaus.
Revolv accounts are paid for yearly, and monthly payments are not required. You can set your monthly payment down to $0 if you want to take a break!
Remember, payment history is the leading factor in your credit profile, so while there are no prepayment penalties, additional payments made will reduce the number of payments reported to the bureaus and could reduce the positive impact on your credit profile.
You may close your account at any time with no early cancellation penalties by contacting us via chat or by calling 833-850-0850.
Remember, payment history is the leading factor in your credit profile, so while there are no prepayment penalties, additional payments made will reduce the number of payments reported to the bureaus and could reduce the positive impact on your credit profile.
No, you cannot suspend or deactivate your account.
Installment accounts require regular monthly payments. We understand life happens; if you are unable to make your payments, please contact us so we can discuss your circumstances.
Revolv accounts do not require a monthly payment. If you don’t have a monthly payment that’s due then you can change your payment amount, but if you are past due on making payments then you cannot. If you’re able to bring your account current, you can set your monthly payment to $0 to keep your account open and continue receiving the benefits.
Right now, you may only add a beneficiary during the application process. If you need to update this information after your account has been opened, please contact our customer support team via live chat or by calling 833-850-0850.
CreditStrong is a division of Austin Capital Bank, an FDIC–insured Texas State Savings Bank. As a United States-based depository institution, Austin Capital Bank is held to the strictest standards and protocols when it comes to protecting your personal, financial, credit information, and money, and all Austin Capital Bank employees are subject to criminal background checks before they are eligible to join the bank.
Contacting CreditStrong
You can call us at 833-850-0850 or chat online with our friendly Austin, Texas-based Customer Support team Monday through Friday, 8 A.M. to 5 P.M. Central. If you need help after hours, leave a message through our widget, and we’ll do our best to get back to you within one business day.
That’s fantastic! We have a referral program you can access in your Customer Portal, or by registering on our Refer a Friend page. Happy Referring!
For other partnership inquiries, please contact us via www.austincapitalbank.com to let us know what you have in mind, and we will do our best to get back to you.
We love customer suggestions! We’re constantly monitoring customer feedback and working to improve our products and services. If you have an idea on how we can improve our products, our support, have new ideas, or just want to chat, please don’t hesitate to contact us.
We’re an independent team who loves all things credit and build everything in-house. As much as we like to believe everything works perfectly all the time, that’s not always the case! If you experience a bug or issue, please accept our apologies and contact us with as much information about the error you encountered as you can. We’ll document your issue and do our best to correct it.
We strive to provide effective products with exceptional service and are sorry to hear your experience has not met your expectations.
To file a complaint about a product or service you have received, you may submit your complaint in any of the following ways:
- Submit a secure message via online chat at CreditStrong.com
- Call our Customer Support team at 833-850-0850
- Write us at: Credit Strong, 8100 Shoal Creek Blvd., Austin, Texas 78757
To file a formal complaint against our parent company, Austin Capital Bank SSB, you may follow the process below:
Consumer Complaint Notice
HOW TO FILE A COMPLAINT
Austin Capital Bank SSB is chartered under the laws of the State of Texas, and by state law, is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against Austin Capital Bank SSB should contact the Texas Department of Savings and Mortgage Lending through one of the means indicated below:
In-person or by U.S. Mail:
2601 North Lamar Boulevard
Suite 201
Austin, Texas 78705-4294
Telephone Number: (877) 276-5550
Fax Number: (512) 936-2003
Electronic submission via the Department’s website:
https://www.sml.texas.gov/consumerinformation/tdsml_consumer_complaints.html*
*Please be advised that by clicking the link above you will leave CreditStrong’s website. The link is provided only as a courtesy. CreditStrong does not endorse or control the content of third party websites.
