CreditStrong Anmeldelser 89

Fell for it during Covid like many. Just tried to call and pay off my balance to get my money back because it’s doing absolutely nothing for my credit and I rather have my 5k. They say they can’t take payments over the phone. Funny because I also can’t make a payment over $200 on the site without it saying declined. Not because of insufficient funds but because the company wants to keep hitting you with fees and interest for each small payment you make. Totally not interested in keeping this bs for 10 years. Please be wary of things marketed on social media it’s nothing more than a money grab

This company is completely bogus beware beware beware they advertise on apps such as Dolby and then they steal your data from that company and they start marketing you they do not deliver as they promise and unless you physically call them which sucks you can't reach them anyway unless they have a customer service email or support email the company is bogus beware this company has zero integrity and they're not passed stealing and scamming

You call and cancel they don’t and you end up with late payments from Austin Bank. This company is a scam with horrible processes. They need to be audited by the federal government. They will worsen your credit and make you pay for the privilege. Avoid at all costs you had been warned. Don’t give them a penny they will go bankrupt and stop affecting normal people in a negative fashion. If you still didn’t get it this company is GARBAGE you want wait 37 minutes on hold then give them your credit card. Biggest mistake you will ever make. Not a trust worthy company

I’m sorry to see all the negative but I already see a difference in my credit score. I think the problem is people are paying monthly instead of yearly. Yes it is a big difference in the two

I just had a trade account show up in my credit from Austin Capital Bank SS. It says they could be associated. With credit Strong but I don’t understand this account. It says the account type is a new home equity loan. I don’t even own a home so I’m not sure what this is all about. I’m very uneasy at this point.

I will be cancelling my account from these crooks liars thieves and misleading I regret signing up with this unprofessional poor excuse of a company do not conduct business with credit strong unless you want to be manipulated Their.
lack of professionalism is unbelievable

These guys are a joke. Stay far away. They try to act like a real bank giving you a fake “loan” with real loan interests and you have to pay it off with your savings 😭 Don’t get me started with trying to connect to customer service. These guys should be exterminated from doing business.

I have been a prior customer & just returned back by opening an installment account. I wanted to share information about installment loan accounts in relation to FICO or vantage scores. Utilization percentages on loans are not treated the same as paying down balances on credit cards. And three to six months of initial payments may only increase your score by 1-2 points. Let's start at the beginning. Even though a hard inquiry was not pulled, a new loan account with a high balance is being reported on the credit report with the three bureaus. When you open a new loan or any type of revolving account, your credit scores are affected for the first year as the scoring system looks at what new account have been opened in the last year. In addition, new account status or account being established takes two years (24) months from the time of opening. High FICO score achievers have paid an average of 40% of the original loan balance. The most points come from an installment loan on a credit scoring model to where you have paid the original amount down by 91% or have a 9% utilization left to payoff. Also, an installment loan with at least open revolving account, satisfies the credit mix. And if you are purchasing a vehicle or a mortgage loan, do not completely payoff your Creditstrong loan. Leave four to six payments, because lenders will not usually care about a loan that is about to be paid off. So, when you pay off a loan in full & it shows paid and closed, you lose the credit mix. Wait until you get the auto loan or have closed on your mortgage.

On a last note, just like a mortgage, student, personal, or auto loan, the majority of your payment is going towards the inetrest. And keep in mind you checked the box to agree to the loan terms. Also, in the loan documents, is the interest rate that you are paying. I looked at mine & the amount of daily interest that I am paying is $ .72 cents & times that by 30 days in the month-out of a $ 30.00 payment, $ 21.60 is going to interest & $ 8.40 is going towards principle. For Creditstrong to justify & report the activity to all three credit bureaus on a monthly basis, the interest that all of us pays takes care of that. There are also fees that Creditstrong pays each credit bureau to be able to report all activity from customer accounts. It's the same thing as paying for a gym membership or for streaming services. If you want to play or be part of whatever group, then you need to pay.

I also wanted to add this after reading the inaccurate information on the reviews. It is not a scam and Creditstrong is not here to harm the consumer. Thye have full disclosure on all of their loan & revolving products. The problem that I am seeing, is that there is a lack of patience on the customer side. Whether you are new to credit, having to start over again from having bad credit or a bankruptcy, your situation is not going to change over night or within a month. You need to start all over again. And these interest fees as far as I am concerned, are the same thing as the interest that you are probably paying on high interest credit cards. And when you got into a bad credit situation, it did not happen over night. The same thing with building or rebuilding credit.

I want to thank Danielle for her assistance in answering all questions and concerns. She was awesome.

I so wish I would’ve seen these reviews before. They are all taking money without you being able to get anything from them. I closed my account within an hour as access was totally limited but drafted my account. ROBBERS

If I could give them a zero I would actually make you think you’re getting a loan and they take your money they don’t save it. They don’t give it all back there and no all the stuff that they tell you are lies lies lies lies. About time you try to fight it and get your money back. It’s not worth it and they know it, but please check out these reviews. They are horrible. Would not recommend.

They advertised that you can pay them $15 a month and they would give you long term credit building until you hit $1000 and then would pay you out that amount. After five years of making payments I only have $350 in the account and the rest of the $550 I've paid in has gone to "interest" on money they never lent me. This service is a scam. DO NOT USE THIS!

It keeps reporting late after the account was paid out and closed..I advise anyone not to deal with this company or companies like this

what a joke of a company stay away from them

Hurt more than help in the end... Why do they even report late payments when the program supposed to help you build the score...

very disappointed; instead of helping with my credit score, they harmed it and negatively affected my report. Stay away from this service!

I closed my account and now they keep hitting me with late payments on my credit for a 0 dollar balance! Account is paid off nothing owed but every month they keep reporting me late! For the last 2 years! Beware!

I'm not sure why there are so many negative reviews. I used CreditStrong back in 2020 and signed up for multiple services and tradelines to help rebuild my credit in preparation to buy a home. Alongside CreditStrong, I also used Self and a few prepaid credit cards. Without those tools, I wouldn’t have been able to secure my mortgage.

That said, this isn’t a magic fix. You need to be patient and understand the timeline of the terms they offer. Even if you pay it off early, the funds remain locked in the savings account until the term matures. A lot of people leaving negative reviews likely didn’t fully read or understand the agreement they signed.

I’ve now owned my home for three years and recently logged into CreditStrong as I’m looking to purchase another property and boost my score again. I noticed my savings account had finally matured. I called their support, and they confirmed the funds would be released and sent back within a few days.

Bottom line: anything involving credit takes time. If you’re expecting instant results or trying to shortcut the process, this isn’t for you. But if you’re disciplined, patient, and understand what you’re signing up for, I’d highly recommend this service.

I wish I had read these reviews before being scammed by Credit Strong/Austin capital bank. I am filing an FDIC complaint for just flat out stealing my money for never lending me a dime!!

This is a scam, they keep your money and it does not build credit