The Path to Better Credit: How PROG Holdings' Build Is Reshaping Credit Building for American Consumers

Why Credit Building Matters More Than Ever

Credit scores have become the invisible gatekeeper of financial opportunity. According to the Fair Isaac Corporation, payment history alone determines 35% of an FICO score—yet millions of Americans struggle to establish this foundational element of financial health. PROG Holdings recognized this gap in the market and responded by introducing Build, a credit building financial management tool designed to help consumers across the nation achieve their credit goals.

The challenge is real: traditional banking systems often exclude those without established credit history, creating a catch-22 where consumers need credit to build credit. Build breaks this cycle by combining the mechanics of an installment loan with a secured savings account, giving consumers a practical pathway to financial improvement.

How Build Works: A Transparent Approach to Credit Building

Build’s Credit Builder Account, issued by WebBank (Member FDIC), operates on a straightforward principle: regular, on-time payments build credit history. When a consumer opens an account, WebBank extends an installment loan and deposits the funds into a secured savings account. This dual-account structure ensures that as customers make monthly payments on the loan, they’re simultaneously building savings.

The impact is measurable. Payment data from Build accounts gets reported to all three major credit bureaus—Equifax, Experian, and Transunion—with users seeing tangible credit score improvements in as little as 60 days of consistent payments. Upon completing the loan term, the account is marked as paid-in-full on credit reports, a significant milestone for credit history.

What makes this approach compelling is the built-in flexibility. Consumers can select repayment periods and account structures that align with their specific financial situations. Whether accelerating credit building or taking a measured approach, the product adapts to individual needs rather than forcing a one-size-fits-all solution.

Expansion and Accessibility: Building Nationwide Momentum

Since its December 2021 launch to Progressive Leasing customers, Build has expanded significantly. Currently available across 16 states, PROG Holdings projects nationwide availability—all 50 states plus the District of Columbia—by the end of 2023. This geographic expansion reflects the company’s confidence in the product’s market demand and its commitment to democratizing credit building access.

PROG Holdings, headquartered in Salt Lake City as a leading American fintech company, operates a diverse portfolio of financial technology solutions. Beyond Build, the company owns Progressive Leasing (a major player in lease-to-own solutions), Vive Financial (specializing in second-look credit products), and Four Technologies (offering Buy Now, Pay Later options). This ecosystem positions PROG as a comprehensive financial services provider addressing multiple consumer segments.

Steve Michaels, President and CEO of PROG Holdings, framed Build within this larger vision: “Build represents our commitment to develop products that fill genuine gaps in traditional finance. When our customers identified credit building as their top financial priority, we recognized the opportunity to deliver an inclusive, transparent solution.”

The Broader Context: Why This Matters Now

Build emerges at a critical moment in consumer finance. Economic volatility, inflation, and changing job landscapes mean more Americans need flexible credit-building tools. Traditional credit products haven’t evolved fast enough to serve this need, leaving fintech companies like PROG Holdings to pioneer new approaches.

The combination of transparency, measurable progress (results in 60 days), and accessibility across multiple states addresses what millions of American consumers genuinely require. By integrating credit building with financial education—a core mission of Build—the platform doesn’t just help users improve scores; it supports broader financial literacy and empowerment.

For consumers evaluating their financial options, Build represents a concrete mechanism to take control of credit health without predatory terms or hidden complexity. For PROG Holdings, it signals the company’s evolution from niche lease-to-own provider to a comprehensive fintech powerhouse serving diverse financial needs across the American market.

More details about Build are available at getbuild.com.