The Best Credit-Building Apps and Tools to Boost Your Score in 2024

Your credit score is more important than ever. It affects nearly every part of your financial life—from getting approved for a loan or mortgage to landing a reasonable interest rate on a credit card. A strong credit score opens doors to better financial opportunities. In contrast, a low score can cost you money and limit your options. Thankfully, there are more tools than ever before to help you build and improve your credit score. In 2024, several apps and tools stand out for their effectiveness in helping you understand, manage, and boost your credit.

These credit-building apps do more than just monitor your credit—they offer personalized insights, help you keep your credit utilization low, provide credit-builder loans, and even report rent payments to the credit bureaus. Let’s take a closer look at the best tools to help you build your credit and take control of your financial future.

Why You Need Credit-Building Tools

Before we dive into the best apps and tools, it’s essential to understand why using them can make a real difference. Your credit score is based on several factors: payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries. Improving your credit score takes time, but the right tools can guide you in making the most intelligent decisions to positively impact these factors.

Credit-building apps and tools can provide a variety of benefits. Some allow you to monitor your credit and get alerts for changes, which helps you catch errors or potential fraud early. Others help you establish a credit history by reporting your on-time rent or utility payments. Some apps even offer credit-builder loans or secured credit cards specifically designed for those looking to build or rebuild their credit. The best part? These tools are often very user-friendly, making them accessible even if you’re not a financial expert.

Exploring the Top Credit-Building Apps

Not all credit-building apps are created equal. Some offer unique features that cater to different needs, whether starting from scratch or looking to repair a damaged score. Here are some of the most effective apps and tools available in 2024 that can help you boost your credit.

Experian Boost: Get Credit for Your Everyday Bills

Experian Boost is a game-changer when it comes to building credit. Unlike most credit-building methods, which only consider credit card and loan payments, Experian Boost lets you get credit for paying your utility bills, phone bills, and even streaming services like Netflix.

Here’s how it works: Experian Boost connects to your bank account and looks for regular payments that aren’t typically reported to credit bureaus. Once identified, these payments are added to your Experian credit report, potentially boosting your credit score. Many users have seen their scores increase instantly by using this free tool.

Experian Boost is especially helpful because it’s designed for people with a limited credit history. Adding these positive payments to your credit profile allows you to build credit without needing to take on more debt or apply for new credit lines.

Self: Build Credit with a Credit-Builder Loan

Self is an excellent app for those looking to build or rebuild their credit through a credit-builder loan. Here’s how it works: when you sign up with Self, you take out a small loan and place it into a certificate of deposit (CD) account. Instead of getting the money upfront, you make monthly payments toward the loan. When you’ve paid it off, you get the money back (minus any fees and interest), and your payments are reported to the three major credit bureaus.

Self offers different payment plans starting at $25 a month, making it accessible for most people. The flexibility allows you to choose a plan that fits your budget while still building credit. Self also offers a Self Visa® Credit Card, a secured credit card available to those who have made at least three on-time monthly payments on their credit-builder account and have saved at least $100. This card can further help build credit as it reports to the credit bureaus.

The app is easy to use and provides helpful insights to keep you on track with your credit-building journey. Self is a fantastic option for anyone looking to take a proactive approach without relying on traditional credit cards.

Credit Karma: Stay on Top of Your Credit Health

Credit Karma has been a go-to for many people looking to understand and monitor their credit. It remains one of the most popular free credit tools available, offering a suite of features beyond just providing a credit score. Not only does Credit Karma provide free credit scores from TransUnion and Equifax, but it also offers credit monitoring, personalized advice, and insights into the factors that are affecting your score.

The intuitive app breaks down your credit report into easy-to-understand sections, highlighting where you’re doing well and where you could improve. It’s beneficial for keeping track of your credit utilization and payment history, which are crucial for improving your score. For example, suppose you have a high credit card balance. In that case, Credit Karma will show you exactly how much you need to pay to lower your utilization rate.

Credit Karma also offers personalized credit card and loan recommendations based on your credit profile. These recommendations can save you from applying for credit you’re unlikely to get approved for, which prevents unnecessary hard inquiries that could hurt your score. While Credit Karma earns a commission if you’re approved for a recommended product, the service is still a valuable resource for those looking to strategically build their credit.

Chime Credit Builder Card: Build Credit Without Fees

Chime is another innovative financial tool offering a fresh approach to credit building. The Chime Credit Builder Visa® Credit Card is a secured credit card that works with your Chime Spending Account to help you build credit without fees or interest.

Here’s how it works: You open a Chime Spending Account and transfer money into it, which acts as your credit limit. You can then purchase the Chime Credit Builder Card like a regular credit card. At the end of the month, you pay off the balance with the money in your Spending Account. The essential advantage is that there are no fees, no interest charges, and no risk of falling into debt because you can only spend what you’ve set aside.

Chime reports your activity to all three major credit bureaus, helping you build a positive credit history. For those looking for a simple, low-risk way to build or rebuild their credit, Chime’s Credit Builder Card is a strong contender.

MyFICO: Get the Full Picture of Your Credit

 MyFICO offers some of the most detailed and comprehensive credit monitoring tools available for anyone serious about understanding their credit and making improvements. MyFICO is the official consumer division of FICO, the company behind the credit scores most lenders use. With MyFICO, you can access your FICO scores from all three credit bureaus, which is particularly useful if you’re preparing for a significant financial move like buying a home or car.

MyFICO goes beyond simple credit monitoring. It provides in-depth credit reports and a simulator that shows how different actions—like paying off debt or applying for a new credit card—could impact your score. This feature is invaluable for planning and making strategic decisions to build credit. Though MyFICO isn’t free (subscriptions start at $19.95 per month), its level of detail and insight can be well worth the cost for those who want to take their credit-building efforts to the next level.

SeedFi: Build Credit While Saving Money

SeedFi combines a unique approach to credit building with a savings plan. With SeedFi’s “Credit Builder Prime” product, you make regular payments into a SeedFi savings account, which are then reported to the credit bureaus as positive payment history. Once you’ve reached a certain amount, you can access your savings and keep building credit simultaneously.

SeedFi is an excellent choice for those who have difficulty saving money or need a straightforward way to build credit without taking on new debt. It helps create a habit of saving while boosting your credit score, making it a win-win for your financial health.

RentTrack: Get Credit for Paying Your Rent

For renters looking to build credit, RentTrack offers a fantastic solution: reporting your rent payments to the credit bureaus. Traditionally, rent payments haven’t been included in credit reports. Still, RentTrack changes that by allowing renters to report their on-time payments to TransUnion, Equifax, and Experian.

To get started with RentTrack, you can sign up through your property manager or directly with RentTrack; they handle the rest. There’s a cost involved, but the benefit of having your rent payments contribute to your credit score can outweigh the fees, especially if you’re already paying rent on time every month. For renters with a thin credit file, RentTrack can quickly build credit without opening new credit lines.

How to Choose the Right Credit-Building Tool for You

Choosing the right credit-building app or tool depends on your financial goals and current situation. If you’re just starting to build credit, tools like Self, SeedFi, and Chime Credit Builder Card provide accessible ways to establish a positive credit history without taking on much risk.

For those who want a deeper understanding of their credit profile and how to improve it, Credit Karma and MyFICO offer comprehensive monitoring and personalized insights. These tools are great for people who want to be strategic about their credit decisions and need detailed information to guide them.

If you’re a renter or someone with limited credit history, Experian Boost and RentTrack offer unique ways to add positive information to your credit report without applying for new credit cards or loans.

Final Thoughts on Building Credit in 2024

Building and maintaining a good credit score isn’t something that happens overnight. It takes careful planning, thoughtful financial choices, and the right tools to guide you. The best credit-building apps and tools in 2024 offer more than just credit scores—they provide valuable insights, actionable steps, and innovative ways to add positive credit history.

Whether you’re new to credit, looking to rebuild after a setback, or simply want to optimize your score for future financial opportunities, these apps and tools can help you take control. Choose the ones that align with your goals, stay disciplined in your financial habits, and watch as your credit score improves.