Yes, Credit Builder is structured as a 12-month loan. This allows us to report your monthly payments to Experian as a repayment of a loan, which helps build your credit score. The amount you borrow is set out in your Tide app.

Unlike a typical loan, the funds you borrow aren’t released to you when you activate Credit Builder. Instead, we lock each of your monthly payments into a separate account, minus interest. After your last payment or if you cancel early, we unlock the separate account and return all the payments you made to your primary Tide account.