Approval with NO Credit Check! Click to learn more!
The Refresh Credit Builder Loan is a loan that is repaid before getting access to the funds (no funds are provided upfront). Instead, funds are placed into a secured account to be accessed later. Payments are reported to the credit bureaus, impacting your credit score.
| Interest rate | 5.95% – 7.95% (APR 9.47% – 20.07%†) |
| Helps me save money? | Yes |
| No cash upfront? | Yes |
| A ‘set it and forget it’ solution for building credit? | Yes |
| Approval with no credit check? | Yes |
| Can be approved without a co-signer? | Yes |
| Access to financial education* | Yes |
| Paid Referral Program** | Yes |
†Financial Implications – Across Canada (excluding Saskatchewan and Quebec) Refresh Financial offers secured savings loans, provided by Refresh Capital Corp. of $1,600 (36 months at 7.95%), $2,900 (36 months at 7.95%), $6,500 (60 months at 6.95%), $10,000 (60 months at 5.95%), and $25,000 (60 months at 5.95%). In Quebec, loans are offered at $1,600 (60 months at 23.50%), $3,000(60 months at 23.50%), $6,000 (60 months at 23.50%), $12,000 (60 months at 23.50%), and $30,000 (60 months at 23.50%). The APR (excluding Quebec) ranges from 9.47% – 20.07% depends on the size of the loan chosen and includes a loan set-up fee of $250-$2,000, deducted from the loan proceeds.
*Refresh f.i.t is part of the paid Black Tier experience of the Refresh self-serve dashboard. With Refresh f.i.t, you can get access to online courses that teach you about money management.
**$100 for every person that signs up for a Credit Builder Loan
Credit Impact – Refresh Financial offers short term secured savings loans and is not a credit repair service. A Refresh loan may help improve your credit score by building a credit history provided your payments are made in full and on time. While having a loan and honoring its obligations can help build credit, potential creditors may see too many loans as an increased risk, and failure to meet repayment obligations will result in a negative report to the credit bureaus, which would reduce your credit score. Please borrow responsibly.
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