No, Credit Builder is not a cash loan.
With Credit Builder, we report your monthly payments to Equifax Canada to help you build your credit history. This is a 48-month (equivalent to 4 years) installment loan, and it will be reported as such to Equifax.
This program is designed for members looking to enhance their credit history. It is particularly popular among those seeking to qualify for better offers and interest rates on credit cards, mortgages, car loans, and more.
If you’re interested in Credit Builder, you can sign up here.