There are several different types of apps designed to help you understand your credit. Most apps will give you information about your current credit. There are some apps, however, designed to help you improve your credit over time. The list below outlines ten apps designed to assist in improving your credit, as well as rank them according to how much they positively affect your credit file.
1. Credit Genius
Credit Genius is the most direct credit-building app on this list because it adds new positive data to your credit file rather than just displaying what is already there.
Rent reporting with backdating is the best feature of this app. Credit Genius submits your monthly rent payments to Experian, including up to 24 months of prior history you have already built. A 2021 TransUnion study found that rent reporters saw an average credit score increase of 60 points.
The platform also includes an AI-powered credit assistant that analyzes your credit profile and suggests the best actions for your situation, real-time Experian monitoring, and Credit Games for financial education.
Best for: renters, People with no credit, and individuals looking for a tool to guide them based on their unique financial circumstances rather than general recommendations.
2. Experian
Experian’s app features something called “Experian Boost” which allows consumers to add on-time payments from utilities, mobile phones, and certain digital streaming services into their experian credit report. Although results aren’t instant, it is one of the faster methods available for those with limited credit history. No additional loans or debts need to be established.
Additionally, consumers will get instant access to both their FICO score and complete Experian credit reports. These are the versions most often checked by lenders when making lending decisions.
Best for: consumers seeking to add historical evidence of on-time payment history for utility and/or streaming subscriptions into their experian credit file immediately.
3. Self
The Self Credit Builder Loan allows you to make a fixed monthly payment into a locked, interest-bearing savings account. The monthly deposits are reported to all three major credit bureaus. Once the term ends, the funds are returned to you minus any fees. This is typically a slower process than Rent Reporting; however it does allow individuals to establish a payment history while also developing their savings habits through regular monthly contributions.
Best for: Individuals with little or no credit history that wish to begin establishing a credit repayment history by making monthly payments as part of a new savings habit.
4. myFICO
The myFICO platform provides consumers with the actual FICO scores used by lenders, as well as the exact version of each score used for different types of lending such as mortgage, auto loan, etc. Rather than guessing which areas to improve, knowing the exact FICO version(s) lenders are using enables you to tailor all subsequent credit-improvement activities towards those aspects of your credit profile that matter most to the next lender you apply with.
Best for: Consumers planning to apply for a mortgage, automobile financing or other type of major credit applications wishing to know exactly which FICO scoring models and/or versions will be reviewed by prospective lenders.
5. Credit Karma
Credit Karma is the most popular credit reporting service in the U.S., and it offers users free credit monitoring and alerts from both Transunion and Equifax (with VantageScore). While Credit Karma can help monitor your account for errors and alert you to any items needing your review, it does not directly enhance your creditworthiness.
Best for: Those looking for free credit monitoring/alerts along side their other methods of building/repairing credit.
6. CreditWise by Capital One
The best part about CreditWise is that it’s not limited to people who have accounts at Capital One; anyone can use it. This service offers you your TransUnion VantageScore and a “credit simulator” which will let you test out how different choices may affect your credit score. It also includes dark web monitoring. What makes the credit simulator so helpful is that you have the chance to plan what moves you’re going to make before you actually make them.
Best for: Anyone interested in testing the effects of possible financial moves on your credit rating prior to making those moves, as well as anyone looking for free three bureau monitoring of their TransUnion report.
7. Aura
Aura is an overall digital safety solution with identity theft protection, credit monitoring through all three credit reporting agencies, antivirus software, and a Virtual Private Network (VPN). While this product doesn’t help improve your credit score per se, the fact that Aura monitors all three major credit reporting agencies, has up to $1 Million in Identity Theft Insurance coverage if someone steals your identity, and also includes other forms of identity protection technology, makes it probably the safest protection tool available today.
Best for: People who are seeking identity theft protection that includes three-bureau credit monitoring.
8. Chime Credit Builder
The Chime Credit Builder is a secured credit card that has no annual fee, and you don’t need to make an initial security deposit in order to get it. Activity is reported to all three major credit bureaus, so making regular purchases with this card helps you build credit. To apply for a Chime Credit Builder Card you have to first open a Chime Checking Account.
Best for: Those who would like to use their daily spending habits to establish some form of credit history with no fees, and are unable to put down a large security deposit upfront.
9. Credit Sesame
Credit Sesame allows users to view their TransUnion Credit Score at no cost along with basic analysis, as well as tools to assist them in managing their debt. With both tiers of the service (basic and premium) users can monitor their TransUnion Credit Score for free; however, the premium version of the service will include additional information from other credit bureaus, such as Equifax and Experian, and identity theft services. In addition to being used as a monitoring tool, Credit Sesame also provides tools to help individuals build and maintain good credit.
Best for: Users who want access to a basic tool to monitor their TransUnion Credit Score at no cost.
10. Cleo
Cleo is a financial assistant using artificial intelligence (AI) and has a conversational interface. The user can access Cleo’s budgeting features, as well as gain insight into their spending habits. Additionally, Cleo allows the user to build their credit by providing them with options to improve their credit scores. Cleo was designed for young people to provide them with less stressful ways to obtain financial assistance. This app offers more than just budgeting and saving; however, it does include credit building as part of its features.
Best for: Young adults seeking both budgeting and credit tools within a conversational, non-threatening experience.
The bottom line
The apps that can increase your credit score the quickest are those that provide positive activity within your credit history report or assist you in identifying and correcting issues that may be negatively impacting your credit score.
Everyone else should choose the right combination of services based upon which area(s) of their credit history report need improvement the most and which action will have the largest impact on improving their individual situation.
