Credit Builder | Beta helps you automatically build credit history at One. There are no fees, no credit checks, no extra application, and no minimums required! We’ve designed an easy way to build or rebuild your credit score that’s fully integrated into your existing One account and uses your same One card.
Applying and Eligibility
Will applying for a One account or adding Credit Builder negatively impact my credit score?
No, applying for a One account or adding Credit Builder does not negatively impact your credit score. Your Social Security Number (SSN) is used to verify your identity. Providing this information helps us prevent fraud. One runs a soft credit inquiry when you apply for a One account.
How do I know if I am eligible for Credit Builder?
Credit Builder eligibility is based on credit history and is available to most One customers who are rebuilding their credit. One customers who are not currently eligible for Credit Builder are eligible for Credit Line. To request access to Credit Builder, click here.
How does Credit Builder help my credit score?
Credit Builder helps build your credit history with guardrails. After assigning your One card to the Credit Builder Pocket you can start spending from it. When you make a purchase, the money inside is subtracted from your Credit Builder Pocket’s available balance and held to make an automatic full on-time payment. This payment is reported to the primary credit bureaus. Consistent on-time payments can have a positive impact on your credit score.
Example: A Credit Builder customer transfers $50 into the Credit Builder Pocket. Over the month, they spend $40 from the Credit Builder Pocket. At the end of the month, One automatically pays the $40 credit balance and reports to the credit bureaus the full on-time payment. The remaining $10 is available in the Credit Builder Pocket. Credit Builder customers can only spend what they put in the Pocket. This ensures you’ll have the funds for the on-time payment at the end of the month.
How do I add Credit Builder to my One account?
Adding Money and Spending
How do I add money to my Credit Builder Pocket?
It’s easy to add money to your Credit Builder Pocket. If you already have funds in your One Account, you can transfer the funds from another Pocket to the Credit Builder Pocket in the “Move Money” tab. However, if you are just getting started at One, you’ll need to fund your account first. Learn how to add money here.
How much money do I need to add to Credit Builder?
You can fund your Credit Builder Pocket with as much or as little money as you’d like. The average starting balance is $55.
Can I keep adding money to the Credit Builder Pocket?
Yes! Add funds as often as you’d like. Customers who regularly use their Credit Builder Pocket set up Scheduled Transfers so this Pocket is automatically funded on a schedule that works for them.
Please note that any money added to the Credit Builder Pocket is not able to be transferred out.
How do I spend from the Credit Builder Pocket?
You can spend from the Credit Builder Pocket then switch to spending from another Pocket at any time. After you log in to your One account, tap on the One card in the upper right corner. Assign your One card to the Credit Builder Pocket then spend as needed.
What can I spend my Credit Builder funds on?
Use the funds in your Credit Builder Pocket to make purchases like any other Pocket. For example, customers use their Credit Builder funds to buy everyday purchases like groceries and gas, or to pay recurring bills.
Can I create a Virtual Card for Credit Builder?
Yes! Log in to your One account, then tap the 3 stacked dots in the upper right corner of the Credit Builder Pocket. Scroll down and tap “Create.” Virtual Card details will appear below.
Can I delete the Virtual Card in my Credit Builder Pocket?
Yes! Log in to your One account, then tap the 3 stacked dots in the upper right corner of the Credit Builder Pocket. Scroll down to the Virtual Card section then tap “Delete.” Please make sure to update any recurring payments that use this Virtual Card number before deleting.
Can I re-create the Virtual Card in my Credit Builder Pocket?
Yes, you can delete and recreate pocket virtual cards for credit builder just like any other pocket.
Payments and Reporting
Do I have to make a manual payment?
No, Credit Builder will automatically process a full on-time payment. If you’d like to make a manual payment in the Credit Builder Pocket, tap on the three stacked dots in the upper right corner of Credit Builder Pocket. Tap on the grey “Pay” button next to “Manual Payment.” This will reset your used balance.
When does the automatic payment happen?
The Credit Builder Pocket automatically processes your full on-time payment on the 25th of every month.
Is utilization in the Credit Builder Pocket reported?
No, utilization is not reported. Use up to your limit in the Credit Builder Pocket without any impact on your credit.
Is there a way for me to track usage?
Yes, in the Credit Builder Pocket, a section keeps track of “Months used.” Every month with at least one transaction and has been paid (automatically or manually) will count towards this number.
When and what does One report to the major bureaus?
Every month, we’ll automatically report to the major bureaus that your account has made a full, on-time payment. One doesn’t report your Credit Builder Pocket limit because the amount put in that Pocket is up to you! Also, how you use your Credit Builder Pocket is not reported. The “card utilization” is not reported because there isn’t a set credit limit. You won’t have to worry about going over that golden 30% CUR we covered earlier. Credit Builder may show up as a ‘secured card’ on your credit report or on credit monitoring services, such as Credit Karma. Please note, you may see our bank partner’s name listed as CCB or Coastal Community Bank on your report.
Other Things to Know
Can I share the Credit Builder Pocket?
No, the Credit Builder Pocket can’t be shared with another One customer.
Can I delete the Credit Builder Pocket?
Yes, you can delete the Credit Builder Pocket at any time. First, log in to your One account, then tap the 3 stacked dots in the upper right corner. Scroll down and tap “Delete.” Please review the checklist before deleting.
Can I re-add the Credit Builder Pocket after I deleted it?
Yes! If you previously deleted the Credit Builder Pocket you can create it again.
What happens if I have the Credit Builder Pocket and don’t use it?
Keeping the Credit Builder Pocket on your One dashboard while not actively spending from it will not negatively impact your credit score.
Organize your money, simplify your life. Make real progress.
Credit Builder functions as a secured charge card that is designed to help you build your credit. Must have a One account to use Credit Builder. No credit history required. A variety of factors impact your credit including payment history, utilization, derogatory marks, account age, total number of accounts, and inquiries. Building your credit may take time and is a process, but Credit Builder may be able to help. Credit reporting may be limited to select credit bureaus during One’s Credit Builder beta phase.