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Key takeaways

  • StellarFi allows users to boost their credit score by reporting regular bill payments including rent, utilities, and phone bills to all three major credit bureaus.
  • Consumers can easily link their monthly bills and automate payments making it a good place to begin building credit.
  • StellarFi is an effective tool to raise scores without taking on debt but it does cost money. Evaluate the cost and see if the benefits are worth the price.

Like it or not, your credit score matters, which you probably know if you’ve ever applied for a credit card or taken out a loan. The trouble is, you have to have credit to get credit. So if your credit is poor or limited, it’s not so easy to bring it up to the good credit range.

That’s where StellarFi comes in. StellarFi is a public benefit corporation dedicated to improving people’s access to credit. Their unique solution: get credit for the bills you already pay. Let’s explore how they do this and if they’re the solution you need.

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What is StellarFi?


StellarFi is a mission-driven company with a clear goal: to disrupt the cycle of poverty by providing access to credit for the millions of Americans who have poor or no credit history. The company achieves this by reporting regular monthly bill payments—such as rent, gym memberships, phone bills, and streaming services—to the three major credit bureaus. This innovative approach ensures that individuals receive credit for the bills they already pay, transforming routine expenses into opportunities for credit building.

Importantly, StellarFi eliminates common barriers to credit access: there are no minimum income requirements, credit checks, interest charges, or deposits required. By removing these obstacles, StellarFi makes credit building accessible to everyone, offering a practical solution for those striving to improve their financial future. With its inclusive and supportive framework, StellarFi is dedicated to helping people achieve financial stability and break free from the constraints of a poor credit score.

Build credit with every bill you pay!

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StellarFi 5 Stars Rating Guaranteed! Awesome Services!

“StellarFi helped me to report subscriptions that other credit builder company don’t report to the credit bureaus! They provide a virtual card to replace your payment method so the payments can be reported to the credit bureaus. Also, no hidden fees, or additional costs with a supporting team that will help you through the whole process. I love that. Thank you StellarFi.” Ezra Brenes

How Does StellarFi Work?

StellarFi is easy to set up and use. You don’t have to put down a security deposit, go through a credit check, or even an application. You can get started in about three minutes.

1

Connect your checking account

2

Add your monthly bills

3

Pay your bills and build credit

Connect the bank account you normally use to pay your bills with StellarFi. You don’t have to pay all your bills with StellarFi. Choose the ones you want and link them in the dashboard. When the bill is due, StellarFi will notify you and check to see if you have enough in your bank account to cover it. If you do, it will pay your bill on your behalf and immediately debit the amount from your checking account. This way you’ll never overdraft or forget about a bill. StellarFi then reports your payments to the credit bureaus thus helping you establish a positive payment history and improve your credit. The process is unique because you get to build credit for bills you already pay.

What Do You Need to Get Started?

StellarFi’s goal is to be accessible so you don’t need much to join. You must be:

  • 18 years old or older
  • a U.S. resident
  • have a Social Security Number

You may be asked to supply additional documentation to verify your identity including a state-issued ID/Drivers License, a Social Security Card, and/or utility bill. It usually takes under three minutes to set up an account.

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Is StellarFi Safe to Use?

Security is always a concern when your personal financial information comes into play. StellarFi ensures your safety by employing advanced security protocols and bank-grade encryption to safeguard all data. The service takes it a step further by not storing your financial information. Instead, it keeps random digital tokens to represent your account at your financial institution. You also use a StellarFi virtual card to pay your bills, which further protects your privacy and safeguards your data.

StellarFi is Stellar

“I just love this program. The Accuracy of paying my bills and taking it out of my account but most of all reporting it credit agencies.” Tamika Russell

Are There Any Fees?

Every financial service comes at a cost and StellarFi is no exception. StellarFi offers three membership options.

Lite $4.99/mo – covers less than $500 in monthly bills

Prime $9.99/mo – covers up to $25k in monthly bills

Premium $19.99/mo (coming soon) – covers all bills and get bill pay flexibility

Who is StellarFi Credit Builder For?

StellarFi’s credit builder service is for anyone who needs to build or rebuild credit. It is a good place to begin if you’re just starting out and are looking for an easy way to establish credit. Or if you’ve had issues in the past and need to rebuild your credit. It’s an innovative credit-building alternative if you don’t want to use traditional credit-building products like credit cards, secured cards, or credit builder loans.

Not only do you get credit-building tools with StellarFi, but you also have access to one-on-one credit counseling with a certified credit counselor. This is possible through StellarFi’s partnership with the National Foundation for Credit Counseling (NFCC). NFCC is committed to helping Americans learn more about credit, improve their financial literacy, and gain control of their finances.

Pros and Cons of StellarFi

Pros

  • Reports to all three credit bureaus
  • Free access to your credit report and score
  • Can improve your credit score within the first few months
  • You get access to a credit coach for personalized advice
  • You can get a 30-day free trial to see if it works for you
  • You can start or cancel the service at any time
  • No hidden fees, deposits, or interest charges

Cons

  • No retroactive reporting
  • No free plan
  • Missing payments on bills can hurt your credit score
  • Limited customer service availability

We make credit radically accessible!

Pay your monthly bills and improve your score. No deposit – No interest – No debt. No barriers to people who need it most.

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Is StellarFi Legit?

StellarFi is a legitimate financial platform, offering services designed to help users build and improve their credit scores by reporting on-time payment activities to major credit bureaus. The platform operates with transparency, emphasizing no hidden fees or overdraft charges, and employs robust security measures to protect user data. StellarFi is backed by a team of professionals with experience in the financial technology sector, and it engages actively with its user community through various support channels. User reviews and testimonials generally reflect positive experiences, further indicating the platform’s reliability. As with any financial service, potential users should conduct their research and review the latest information to make informed decisions.

Frequently Asked Questions

StellarFi reports your payment activities to the major credit bureaus, typically showing up as a revolving line of credit on your credit report, similar to a credit card. StellarFi will report your total bill payment each month. This will then be compared to your limit to calculate your credit utilization ratio. This means that StellarFi helps you build credit through both timely payments and by lowering your credit utilization ratio.

StellarFi increases your credit score by reporting your on-time payment activities to major credit bureaus and by giving you a higher credit limit. A higher credit limit allows you to keep your credit utilization low, which will benefit your score. Furthermore, by consistently paying bills on time, you will establish a positive payment history boosting your score. StellarFi helps by reporting monthly bills that are normally not reported to the credit bureaus, helping to build a solid credit history and improve your credit score over time.

StellarFi does not perform a hard credit inquiry. All you need to set up StellarFi is your Social Security Number or individual taxpayer identification number (ITIN). These numbers allow StellarFi to report your payments to the credit bureaus. You can set up StellarFi without any negative impact on your score. Always check their latest policies for any updates regarding credit inquiries.

StellarFi does not charge overdrafts or hidden fees, assuming the linked bank account has sufficient funds. Check with your bank, as you may receive an overdraft fee from them. StellarFi offers a transparent fee structure that ensures that users are aware of all costs upfront, avoiding unexpected charges. This approach helps users manage their finances more effectively without the worry of incurring additional, unforeseen expenses. Always review the latest terms for any updates to their fee policies.

To cancel your StellarFi account, log in to your account and navigate to the settings or account management section. Follow the prompts to initiate the cancellation process. If you encounter any issues, contact StellarFi customer support for assistance. Be sure to confirm any final steps to ensure your account is fully canceled and no further charges are incurred.

If you don’t want to fully cancel, you can always pause your account. Pausing your account keeps your line open and prevents an account closure from appearing on your credit report, dinging your score. A paused account will no longer report monthly payments so it won’t help your score either.

To contact StellarFi customer service, you can email at support@stellarfi.com or reach out through their official website by accessing the “Contact Us” or “Support” section. They typically offer support via email and live chat. Additionally, you can check their FAQ section for quick answers to common questions. For immediate assistance, visiting their support page provides the most direct contact options.

Bottom Line

StellarFi understands how important a good credit score is for financial success and is dedicated to helping people achieve it. The platform recognizes that a strong credit profile can unlock numerous financial opportunities, such as lower interest rates on loans, better credit card offers, and even favorable terms on rental agreements. With StellarFi, the monthly cost is minimal, making it an affordable option for many. Additionally, the inclusion of credit counseling services significantly increases the value of the platform, offering users personalized advice and strategies to manage and improve their credit health.

For individuals without a credit history or those struggling with a poor credit score, StellarFi offers a practical solution to build or rebuild their credit. By simply paying bills—something most people already do regularly—users can have these payments reported to major credit bureaus. This reporting helps establish a positive credit history over time, demonstrating responsible financial behavior to potential lenders. StellarFi’s approach leverages everyday financial activities to create and enhance credit profiles, making the process of credit building accessible and straightforward. With its focus on affordability, ease of use, and comprehensive support, StellarFi provides a valuable tool for anyone looking to improve their financial standing through better credit management.

About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

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