You need good credit to rent an apartment, buy a car, get a cell phone plan, and sometime even to get a job. But you don’t need to get into credit card debt to build your credit score. By joining a Lending Circle, young adults can build credit with Game Theory Academy for FREE!
How it works:
A Lending Circle is a group of people who all agree to make the same monthly payment for a number of months. The first month, one participant receives the money everyone paid that month. Each month after that, the next person in line receives the money until everyone gets a chance. Don’t worry! If someone misses a payment, you still receive yours. Lending Circles are a safe, free way to build credit. The group decides together how much the payment will be, and who receives the money each month. Each month, the credit bureaus receive a report of your loan payments. This builds your credit history.
What you need to join a Lending Circle:
- Checking account
- Proof of income (doesn’t have to be a lot)
- Government ID
- At least 18 years old
- Enter your zipcode on the Lending Circles website
- Select Game Theory Academy
- Fill out your information
- Submit your application
Once you have submitted your application, we might contact you to finalize any missing details. Before you can join a Lending Circle you also have to complete five financial skills videos. Every Lending Circle starts with an in-person meeting at Game Theory Academy.
Who can join a Lending Circle:
You! At Game Theory, we work with adults ages 18-30.
Over 30? Our partner organization, Mission Asset Fund creates Lending Circles with people of all ages.
Contact Hayley Axel at Game Theory Academy: