What the Self Financial Inc. TV commercial - Build Credit and Savings at the Same Time is about.
Self Financial Inc. is a financial technology company that helps people build credit and savings at the same time. Their latest TV spot focuses on this unique selling proposition.
The commercial begins with a woman receiving a rejection letter in the mail. She looks dejected, clearly disappointed that she has been turned down for credit. The voiceover then asks: "Do you want to build your credit score and savings at the same time?"
Cut to a shot of the same woman, this time smiling and confident. The voiceover continues: "With Self, you can. Our credit builder account helps you build your credit while you save money."
The commercial then goes on to explain how Self's credit builder account works. Customers make monthly payments into a secure account, which Self then reports to the major credit bureaus. Over time, this helps improve their credit score.
At the end of the spot, the woman is shown holding her phone with a smile on her face. The voiceover concludes: "Build your credit and save, all with Self."
The commercial strikes the right balance between informative and emotional. It highlights a real pain point for many people - difficulties with credit - while offering a solution that is both practical and empowering. By presenting credit building and saving as a joint effort, Self Financial Inc. has found a unique and compelling way to attract new customers.
Self Financial Inc. TV commercial - Build Credit and Savings at the Same Time produced for
Self Financial Inc.
was first shown on television on February 9, 2023.
Frequently Asked Questions about self financial inc. tv spot, 'build credit and savings at the same time'
More than 100 million Americans have a low or no credit score. These Americans are either locked out of the traditional finance system or pay higher fees and interest rates for access to credit. Additionally, they often pay more for insurance and other services.
720 or above
Key Takeaways. It is possible to get a $100,000 personal loan, but it's difficult. Lenders don't typically offer loans as large as $100,000, with most banks and credit unions offering a maximum of $50,000. To qualify for a $100,000 personal loan, you'll need a credit score of 720 or above and a high income.
They don't ignore their credit score
A high credit score can earn you a low interest rate and save you thousands of dollars in interest over the life of a loan. A low score may prevent you from getting a loan if you ever need one. Wealthy people know this and they never, ever ignore their credit score.
650
For a loan of 50K, lenders usually want the borrower to have a minimum credit score of 650 but will sometimes consider a credit score of 600 or a bit lower. For a loan of 50K or more, a poor credit score is anything below 600 and you might find it difficult to get an unsecured personal loan.
What credit score do I need for a $5,000 loan? If you have a 580 or higher credit score you may qualify for a $5,000 personal loan. If you have bad credit or a credit score below 580 you may need to apply with a co-signer to qualify for a loan.
Anything that falls between 740 to 799 is “very good,” and anything above 800 is considered “exceptional.” But not many people reach the exceptional range. Only a little over 20% of consumers ever earn a score of 800 or higher.
The longer you've been using credit, the more it means to your credit score. Members of the 800 Club average just under 22 years of using credit. Even the youngest ones, Millennials, average more than 14 years.
The highest personal loan amount you can usually find is $100,000. While you may qualify for a $100,000 personal loan with a 700 credit score, it's not guaranteed. If you have a lot of debt or an unfavorable debt-to-income ratio, some lenders may limit how much they are willing to loan.
Most lenders require a minimum credit score of between 600 and 650, but some lenders specialize in personal loans for those with lower scores. Often the interest rates for such loans are far higher and the repayment terms less favorable.
Perfect credit scores are incredibly rare, though they are possible. Although high credit scores make it easier for people to qualify for financing, you don't need perfect credit to get a good interest rate on loans or credit cards.
Tips to Perfect Your Credit Score
- Pay your credit card bills often.
- Keep a solid payment history.
- Consider your credit mix.
- Increase your credit limit.
- Don't close old accounts.
- Regularly monitor your credit report.
- Only apply for credit when you really need it.
The amount of time it takes to go from a 700 to 800 credit score could take as little as a few months to several years. While your financial habits and credit history will play a role in how long it takes, there are some factors that have specific timelines.
