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When you have cash, but not credit
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MAGNUM helps you build a large amount of credit with low monthly payments

Build $2,000 to $30,000 of credit starting at just $25/mo

MAGNUM credit = MAXIMUM impact

Average credit score improvement for MAGNUM account holders that made 12 on-time payments1 


Starting Credit Score

MAGNUM 5000 

MAGNUM 10000 


+ 77 points

+ 86 points


+ 51 points

+ 60 points


+ 37 points

+ 43 points


+ 32 points

+ 33 points

Plans and Pricing

We recommend paying 2x the minimum required monthly payment. See Pro Tips

All MAGNUM accounts have a $25 non-refundable administrative fee. For complete plan details including interest rates please click here 

MAGNUM accounts have no prepayment or early withdrawal penalties, so you can pay any amount over the minimum required monthly payment or cancel at anytime for any reason with no penalty. 

Minimum Required
Monthly Payment

Amount of
Credit Built

MAGNUM Standard












All MAGNUM accounts maximize your credit profile by adding a large credit account to your credit report 

Not everyone needs MAGNUM sized accounts, but they may be right for you, if you want to: 

  1. Unlock higher credit limit credit cards 
  1. Access higher value personal loans 
  1. Maximize your potential credit score increase 

MAGNUM XL accounts are the largest and longest credit builder accounts in the nation 

MAGUM XL accounts are for individuals wanting to MAXIMIZE the amount of credit on their profile. MAGNUM XL may be right for you, if you: 

  1. Have or had a credit card or personal loan in the past with a good payment history and want higher credit limits, larger loan amounts, or lower interest rates 
  1. Are new to the US and want to establish a US credit profile with a large amount of credit 
  1. Want to build sizeable personal credit history for business purposes (are a sole proprietor) 

MAGNUM XL accounts are NOT recommended if you: 

  1. Have limited financial resources and are just starting to build credit 
  1. Are trying to obtain your very first credit card or personal loan 
  1. Have many recent negative items on your credit report: such as multiple late or missed payments, bankruptcy, or collections 

If you’re just starting to build credit and have limited financial resources, MAGNUM 2000, 5000 and/or Credit Strong Revolv may be better options for you. 

MAGNUM IS optimized to build large amounts of credit with a low monthly payment

MAGNUM IS NOT optimized to build savings

MAGNUM is an installment credit builder account

What is an installment credit builder account? 

  • A cash secured credit builder loan where you do not receive the loan proceeds when the loan is originated 
  • The loan funds are locked in  a deposit account and held as collateral to secure the credit builder loan 
  • You make monthly payments of principal and interest; the principal is returned to you when your account is closed, the interest is how we earn money to provide the service 

While you will build savings with your MAGNUM account, it is optimized for building large amounts of credit, not building savings. 

Compare MAGNUM to other large credit builder accounts. 


X-Large Builder 


Amount of Credit Built 

$ 5,000 

$ 3,076 

$ 15,000

Monthly Payment 



$ 160





Length of Credit History Built 

Up to 120 months 

Up to 24 months 

Up to 120 months

vs Self’s X-Large Credit Builder 

MAGNUM XL 15K: Build 5x the credit for about the same monthly payment 

MAGNUM 5000: Build bigger credit for about 1/3 the monthly payment 

We gave MAGNUM 15k & 30K the lowest possible rate – just 5.16% APR

That’s less than 1/3 the interest rate charged by Self for its X-Large Builder account 

How MAGNUM works

Build up to 120 months (10 years) of payment and credit history or cancel at any time with no penalty 


Apply in minutes

Open an account in under 3 minutes – no hard credit pull

Pick a plan

Select an account that fits your budget and goals

Make monthly payments

Make on-time monthly payments to build positive credit history

According to FICO®, the average ‘Length of Credit History’ for consumers with an 800+ credit score is a little over 10 years (128 months)1 

Potential benefits of larger amounts of credit

Higher credit card limits
Obtain larger personal loans
Establish larger amounts of US credit history
Build personal credit for business purposes

Reports to all 3 bureaus

Reports to Experian, Equifax, and TransUnion

Free FICO® Score monthly​

FICO® Scores are used by 90% of top lenders

No hard credit pull

There is no hard credit pull when you apply 

Cancel anytime

You can cancel anytime with no penalty 

Because of their large size and long term, MAGNUM accounts are not for everyone  

MAGNUM may not be your best credit building option if: 

  • You cannot afford to consistently make the minimum required monthly payment on-time 
  • You do not have the ability to easily keep the account open for at least 24 months 
  • You have a bankruptcy that is less than 7 years old 
  • You have loans or credit cards with late/missed payments within the last 12 months 
  • You want or need money NOW 

MAGNUM accounts are NOT recommended if: 

  • You are applying for a home mortgage in the next 12 months and are concerned about your DTI ratio (Debt-to-Income ratio) 
  • You are applying for a business loan that requires a personal guaranty in the next 12 months and are concerned about your DSCR (Debt-Service-Coverage-Ratio) 

If MAGNUM isn’t for you, CreditStrong offers two smaller credit building options that build credit and savings 


Instantly build $500 of revolving credit with a low annual payment of just $99/yr and NO monthly payment requirement 


Entry level credit building with required low monthly payments of just $28, $38, or $48 that allow you to build credit and savings of $1,000+ in just 24, 36, or 48 months. 

MAGNUM Details

Limited payment account changes

To protect you and your money, we may limit changes to your payment account during the term of your MAGNUM account and the funds you build in your MAGNUM account will be sent back to the bank account(s) they came from. 

MAGNUM credit reporting

Your account and payment history will be reported to Experian, TransUnion, and Equifax. Because of their large size, your MAGNUM  account may need to be open and in good standing for a minimum of 90 days and you may need to successfully make a minimum of 3 required minimum monthly payments before your account is reported to the 3 major consumer credit bureaus.  

Not designed to build savings

While MAGNUM accounts are not designed to focus on building savings, the principal you pay on your loan will be returned to when you close your account, less any outstanding interest or fees. If you want a smaller credit builder account that is designed to build savings while building credit, Credit Strong Instal accounts offer a variety of monthly payments and loan terms from 24 to 48 months.

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