What is Credit Builder*
With Dave’s Credit Builder you get the opportunity to build positive payment history by allowing Dave to report your advance settlement activity to Equifax.
*We are releasing this feature on a rolling basis, so it may not be immediately available to all members.
How Credit Builder works
It’s simple! Once you enroll, Dave will begin sending your advance settlement history to the credit bureaus.
There are no credit checks to get started. Just use ExtraCash™ when you need it and start positively impacting your credit. You’ll even be able to monitor your score in the Dave app.
What Dave reports on
Dave reports on your ExtraCash™ advance settlement history, including your on-time and late payments, on a monthly basis. Keep in mind, any late payments may negatively impact your score so it’s important to settle your balance on time!
Please note, it may take up to sixty (60) days after enrollment before reporting starts to impact your score.
How to enroll*
Enrolling is simple! Just follow these steps:
1. Navigate to Grow
2. Tap Start building credit
3. Tap Enroll and continue with the steps
You may be asked to confirm your SSN when you enroll.
*The cost of the service is $4.99, but from now through September 2, 2022 get a trial on Dave!
How to unenroll
As long as you do not have an outstanding balance in your ExtraCash™ account, you can opt-out of Credit Builder. You can unenroll in the Dave app by following these steps:
1. From any main screen app header, tap the Settings icon ⚙️
2. Tap Manage Credit Builder
4. Confirm to unenroll*
*Important - Once you unenroll, you will not be able to opt back in to Dave’s Credit Builder.
