ScoreMore Loan
ScoreMore Loan can boost your credit and grow your savings at the same time.
Call 833.413.6026
Build Credit While Growing Your Savings
The ScoreMore LoanSM is a great option that could help you raise your credit score up to 60 points1 on average while also increasing your savings by $2531 on average. You choose your loan amount from $500 to $3,000. And everyone who is approved gets a low fixed rate of 3.99% APR1. We'll report your on-time monthly payments to the credit bureaus. In addition, your monthly payment will be added to your savings account. After your final payment, the savings account is unlocked, and the money is yours!
Call 833.413.6026
Find My Nearest Branch
Call 833.413.6026
Find My Nearest Branch
Here’s How it Works
It’s Easy to Apply
No minimum credit score, no credit history and no cosigner needed.
Visit a branch near you or give us a call to get started.
Call 833.413.6026
Visit a branch near you or give us a call to get started.
ScoreMore Loan Benefits
How is the ScoreMore Loan different?
| ScoreMore Loan | Traditional Loan | |||
|---|---|---|---|---|
| How the Loan is Used | Helps build your credit score and savings at the same time | To help you make a large purchase | ||
| Interest Rate Variability |
Fixed 3.99% APR1 for everyone
|
Rate based on your credit score | ||
| Who Can Qualify for the Loan | Available to almost anyone interested in improving credit | Good credit score/history likely required | ||
| When You Receive the Funds | Funds available after last payment is made | Funds are available immediately | ||
| Impacts on Your Credit Score | On-time payments help your score, but no negative impact for a missed payment | Missing a payment has a negative impact on your credit score |
Frequently Asked Questions
A ScoreMore Loan is different from our other traditional loans because you don’t receive your money up-front. Instead, you receive the funds – less interest, after all the loan payments have been completed.
Yes, you can pay off the loan early. Remember, building a positive payment history is the most important factor in calculating your credit score. Keep in mind that you may not have established a long enough payment history to impact your score if you pay off the loan early.
If you can’t make your payment on time, please give our Account Resolution team a call as soon as possible, at 866.666.2206.
Together, we can figure out a potential payment plan. If the best resolution is closing the loan early, we will disburse the payments you have made into your CommunityAmerica savings account, less interest. We will report the account as closed with all three credit bureaus, so it won’t have a negative impact on your credit.
Together, we can figure out a potential payment plan. If the best resolution is closing the loan early, we will disburse the payments you have made into your CommunityAmerica savings account, less interest. We will report the account as closed with all three credit bureaus, so it won’t have a negative impact on your credit.
You can make a payment by check, in-branch, or over the phone.
You can also make a payment through Online Banking in the following ways:
When you set up automatic payments, called AutoPay, the payments are automatically withdrawn from your bank account on a certain date each month. AutoPay is recommended because it can help prevent missed or late payments.
You can also make a payment through Online Banking in the following ways:
- Make a one-time payment
- Set up automatic payments
When you set up automatic payments, called AutoPay, the payments are automatically withdrawn from your bank account on a certain date each month. AutoPay is recommended because it can help prevent missed or late payments.
- Login to your CommunityAmerica Mobile App.
- Tap “Make a Transfer” at the bottom of the screen.
- Choose the account you want to use to pay your ScoreMore Loan.
- Select your ScoreMore Loan as the account you want your funds to be transferred to.
- Select the amount you want to transfer.
- Tap “Transfer” to complete your one-time payment.
- Log in to your CommunityAmerica Mobile App.
- Tap “Make a Transfer” at the bottom of the screen.
- Tap the “Schedule” icon at the top.
- Tap “Schedule a Transfer”.
- Select the account you want to use to pay your ScoreMore Loan.
- Select your ScoreMore Loan as the account you want your funds to be transferred to.
- Select the amount you want to transfer.
- Tap “Frequency” and choose how often you want the recurring payment to “Repeat” and the date you wish for the transfers to occur. Select when you want to end the recurring payments.
- Log in to your CommunityAmerica Mobile App.
- Tap on your ScoreMore Loan tile.
- The balance and due date information can be viewed here.
Yes, you can set up loan payment due/overdue alerts.
To set up these alerts:
To set up these alerts:
- Log in to your CommunityAmerica Mobile App.
- Tap “More” at the bottom of the screen.
- Tap the “Settings” icon at the top of the screen.
- Select “Push Notifications.”
- Navigate to your ScoreMore Loan.
- Toggle the alerts you want to turn on.
No, there is no fee if you close your ScoreMoreLoan early.
Please contact Account Resolution at 866.666.2206 if you’re having trouble making your monthly payments.
Please contact Account Resolution at 866.666.2206 if you’re having trouble making your monthly payments.
Payments that are received after the 15th day of the scheduled due date will be charged a late fee that is equal to 5% of the loan payment, or $15, whichever is greatest, not to exceed $50. If the minimum periodic payment is $25 or less, the late charge will be $5.
After your ScoreMore Loan has been paid off, your payment minus interest will be deposited into your CommunityAmerica savings account.
