Self

Self is a consumer financial technology company offering products intended to help people establish or rebuild credit history and savings. Its core product is the Credit Builder Account, which combines a savings component with credit reporting; the company states members see an average 47-point lift in credit score. Self also offers a secured credit card, marketed as requiring no credit check and having high approval rates, as well as unsecured credit cards, with activity reported to all three major credit bureaus.

Additional products include rent and bill reporting, which sends on-time rent payments to the three credit bureaus so that routine housing payments contribute to credit history, and Self Cash, a product positioned for covering unexpected expenses without disrupting a user's credit-building goals. The company publishes consumer education content on topics such as types of credit, rent reporting, and building credit with no prior credit history.

Self operates through a mobile app and website; it reports app store ratings of 4.9 stars from roughly 250,000–286,000 reviews and 4.5–4.6 stars from 80,000–90,000 reviews.

Founding story

Self was started in 2015 by founder James Garvey after a mistake with his credit card lowered his credit score. While looking for ways to rebuild it, Garvey identified the difficulty faced by Americans with low or no credit, who generally need existing credit in order to obtain new credit. The company was built around tools intended to work regardless of a person's credit history or bank balance.

Business model

Self sells consumer credit-building financial products directly to individuals, including a Credit Builder Account that pairs savings with credit reporting, secured and unsecured credit cards, rent and bill reporting, and a short-term cash product.

Traction

The company reports four million Builders served, a stated average 47-point credit score increase for Credit Builder Account users, and app ratings of 4.9 stars from about 250,000–286,000 reviews and 4.5–4.6 stars from about 80,000–90,000 reviews.

Latest developments

Self continues to market its Credit Builder Account alongside secured and unsecured credit cards, rent and bill reporting, and the Self Cash product, and is recruiting across functions including engineering and customer success.