Cheese Credit Builder Review [2024] Cheese App Review

An “excellent ” credit score is 740 or higher. Do you fall short of that number? If so, it might be time to try Cheese (and I’m not talking about the stuff you put on pizza).

Cheese is a personal finance app that can help you improve your credit score. All you have to do is make a series of payments – and Cheese makes it easy by automating the process.

In this Cheese credit builder review, I’ll explain how the app works – and why it’s worth trying!

What is Cheese?

Cheese is a credit builder app that uses a clever financial maneuver to boost your credit score. 

What maneuver am I talking about? A credit-builder loan! 

I’ll explain the process in detail below, but basically, you just have to send Cheese a certain amount of money each month. Then, at the end of a 1-year or 2-year period, you’ll get most of the money back – and your credit score should have risen in the process! 

The Cheese app is all about building credit. They used to offer a Cheese debit card, but it was recently discontinued. 

How Does Cheese Credit Builder Work?

The Cheese credit builder app raises your credit score through a credit builder loan.

Here’s how a loan with the Cheese app works:

1. You take a credit builder loan – but you don’t receive the money. Instead, it remains in a protected bank account.
2. You pay back the loan in installments. Cheese reports the on-time payments to the three credit bureaus, which should increase your credit score.
3. Once you’ve paid off the entire loan, you get your money back (minus interest).

The interest rates vary by location. And since Cheese doesn’t charge a fee, the interest represents the entire cost of the credit-building process. 

Now that you have a general idea, it’s time for this Cheese credit builder review to get more specific! Here are some features and details to look out for:

• Term length. You can choose a credit builder loan of 12 or 24 months.
• Deposit amount. Your loan can be for $500, $1,000, or $2,000. 
• There’s no hard credit check. That means your credit score won’t take a hit when you first sign up.
• Credit tracker. Cheese will help you monitor your credit score as you pay off the loan.

If you’re interested in using Cheese, your first step is to create an account. Just head to the official Cheese website and click “Start Building My Credit” or “Create My Account Now.” 

And remember – a Cheese loan isn’t actually for borrowing money. It’s a tool for building credit! 

If you’re looking to borrow money, read this article on lending apps like SoLo Funds. You could also consider one of these Buy Now Pay Later apps.

Is Cheese Credit Builder Legit?

Cheese credit builder is definitely legit. It’s run by Extra Financial, Inc. – which is a real company headquartered in Pasadena, California. Cheese’s loans are provided by Synapse Credit LLC, which is a fully licensed lender. 

But Cheese isn’t the only legit option for boosting your credit. Check out this list of the best credit repair companies.

Is Cheese Credit Builder Safe? 

Using the Cheese credit builder is completely safe. Here are some reasons why:

• All data is secured with 256-bit encryption.
• Cheese promises not to sell your data.
• The annual percentage rate (APR) is fixed – meaning you won’t be surprised by a sudden rate increase.  

Pros and Cons of Cheese Credit Builder

What’s special about the Cheese app – and what’s a bit of a letdown? This Cheese credit builder app review lays it all out for you!

Pros

• There’s no membership fee. That means the only associated cost is the interest paid on the credit builder loan.
• Cheese reports to all 3 credit bureaus. This is what helps your credit score increase.
• There’s no hard credit check. Since credit builder loans are safe for lenders, they won’t have to do a “hard pull” – which means your credit score won’t take a hit. 

Cons

• There’s no guarantee your credit score will increase. Credit builder loans often work – but they aren’t magic. Cheese states clearly that users have varying results.  
• Cheese isn’t available in every state. At the time of writing, loans are only accessible in 43 states and D.C. (excluded states: AL, IN, KY, NV, PR, VT, VI, WA, WI)
• There’s no longer a Cheese debit card. The Cheese app used to work almost like a checking account. Now, it’s only a credit builder app. 

Cheese Credit Builder Reviews

Let’s look at some Cheese credit builder reviews online. 

In a 5-star review on Trustpilot, someone said the app increased their credit score by 30 points in just 4 months. That’s the kind of result that Cheese users should dream of!

A reviewer on the Apple App Store reported even more impressive results, saying their credit score went up 58 points in 45 days. No wonder they left a 5-star Cheese credit builder review!

But not everyone raves about the app. In a 1-star Cheese app review, someone complained that the lack of phone support can cause headaches. 

Cheese App Reviews

Now, let’s look at some Cheese credit builder reviews that focus specifically on the app’s user experience. 

One Apple user said that the Cheese app is convenient and easy to use. 

On the Google Play store, someone left a 3-star Cheese app review. They described the app as having “a lot of potential,” but they also thought it was “a bit buggy.” 

In another 3-star Cheese credit builder review on Google Play, a user said they hadn’t seen a change in their credit score after 3 months. This goes to show that every user has their own experience. 

Cheese Credit Builder Reviews Reddit

Unfortunately, I couldn’t find a decent Cheese credit builder review on Reddit. One person started a thread asking whether Cheese really reports to credit bureaus. 

And the response? Crickets. 

*Note: I can confirm that Cheese does report to the three major credit bureaus. 

I’ll keep my eyes on Reddit in case a Cheese credit builder review pops up!

Cheese Credit Builder Reviews BBB

The good news? Cheese has a page on the Better Business Bureau (BBB) website. 

The bad news? The page isn’t exactly filled with glowing praise. 

Cheese gets an F from the BBB, and it isn’t an “accredited business.” That means users have been leaving a lot of complaints.

This failing grade doesn’t necessarily mean you should avoid using Cheese – but it definitely means there are some negative reviews about iffy customer service. 

Is Cheese Credit Builder Worth It?

I think the Cheese credit builder is totally worth it for anyone looking to give their credit score a boost. 

There are lots of ways to improve your credit. One option is to make as much money as possible so you can pay off your debts. To get started, check out this list of ways to earn free money. 

But to lower your credit score as quickly as possible, it’s best to use several strategies at once. And the Cheese credit builder app is one of those strategies. 

One of the best things about the Cheese credit builder app is that it takes the stress out of improving your credit score. The app puts the process on autopilot for you. That makes it a super useful tool – especially if you’re sick of worrying about personal finance. 

Commonly Asked Questions About Cheese Credit Builder

What are Alternatives to Cheese Credit Builder?

Here are some Cheese alternatives that can help you build your credit:

• StellarFi (read this full StellarFi review)
• Dovly (read this full Dovly review)
• Cushion (read this full Cushion App review)
• CreditStrong (read this full Credit Strong review)
• Kikoff (read this full Kikoff review)
• Cleo (read this full Cleo Credit Builder Card review)
• Chime (read this full Chime review)
• Nevly Money (read this Nevly Money review)

For more ways to fix your credit, check out our comparison of Credit Saint vs Lexington Law, or see if working with the best tradeline companies could be the right credit repair solution for you. 

Meanwhile, learn how to budget for non recurring expenses so you can be prepared for unexpected costs going forward. 

Do you get paid twice a month and find yourself struggling to account for that in your budgeting? Learn how to budget biweekly paycheck. And if you need to ramp up your savings fast, learn how to save $3000 in 3 months.

To learn which budgeting app could best help you manage your finances and boost your savings, check out these comparisons of Rocket Money vs the competition:

• Rocket Money vs YNAB
• Rocket Money vs Simplifi
• Rocket Money vs Copilot

Is Cheese Credit Builder a Scam?

Cheese credit builder isn’t a scam. It’s run by a legitimate company called Extra Financial, Inc., and its loans are provided by Synapse Credit LLC, which is a licensed U.S. lender.

What is The Catch With Cheese Credit Builder?

The only “catch” with Cheese is that there’s no longer a Cheese debit card option. Now, Cheese is only a credit builder app. So, if you’re planning on using the app to boost your credit score, then this isn’t a problem at all!

Is Cheese Credit Legit?

The Cheese credit builder app is a legit option for boosting your credit score. It gives you a credit builder loan and then reports your on-time payments to the three major credit bureaus. 

How Much Does The Cheese Credit Builder Charge?

There’s no fee for using the Cheese credit builder, but you will have to pay interest on the credit builder loan. The exact interest rate will depend on the state.

Does Cheese Credit Builder Actually Work?

Many users report that Cheese credit builder really works. For example, one person reported that their score increased by 58 points in only 45 days. That said, everyone’s experience will be different, and many factors can affect your credit score.