Kikoff Review

Kikoff offers an affordable credit line, which can help you build your credit. But what's the catch? Read on to find out.

	Credit Building Made Easy Learn More
	Overall Score	4.4
	Fees	4.5
	Credit Building Tools	5.0
	Credit Bureaus Reporting	3.0
	Mobile App	5.0

5-point scale (the higher, the better)

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Pros and Cons

• Inexpensive way to build credit
• Cancel anytime
• No lock-in period

• Does not report to TransUnion
• Kikoff Store items may not be valuable

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Bottom Line

Low-cost credit builder that packs in extra features for credit building

Imagine being fresh out of college with no credit history or credit score. And you don't even know where to start.

Well, one option you can try is Kikoff. You can build your credit for as low as $5/mo with no credit requirements. You can also get approved instantly.

Keep reading to learn how it works and its features. If it doesn't seem like the right option, you'll also find alternatives at the end of the article.

What is Kikoff Credit Builder?

Kikoff is a credit builder that offers a credit line you can use to purchase items from the Kikoff store. The credit builder costs $5/mo, giving you access to a $750 credit line.^[1] The Kikoff store offers credit-building plans, e-books, and digital courses.

To help build your credit, Kikoff reports your payments to the 3 main credit bureaus. If you use features like Rent Reporting and Secured Credit Card in your account, Kikoff will also report your rent payments and card transactions every month.

In general, Kikoff has helped increase the credit scores of its users by over 9.6 million points.^[2] Note that you cannot withdraw or cash out money from your credit line.

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• No credit pull required
• With 0% interest
• Open your account in minutes

How do you know if Kikoff is the right option for you? Read on.

Who is it best for?

Kikoff works best for people on a budget or with a thin credit history. You can use the credit line to add positive transactions to your limited payment history.

Plus, you can decrease your credit utilization ratio by adding another line of credit to your profile.

Who should skip Kikoff?

Kikoff may not be the best option if you're looking for extensive ways to repair your credit. Experienced credit repair companies may be a better option for you instead.

However, if you're considering this credit builder, keep scrolling to learn its pros and cons.

Pros And Cons

Pros

• Affordable credit builder
  
• 0% interest
  
• No administrative fees, late fees, or annual fees
  
• Reports to Equifax, Experian, and TransUnion
  
• Cancel anytime without penalties
  
• 45-day satisfaction guarantee
  
• No hard credit check
  
• No lock-in period for the credit line
  
• Android and iOS apps available
  
• Available in all states

Cons

• Provides VantageScore only
  
• Items in the Kikoff store may not be of value to you

To fully understand how Kikoff can help build your credit, here's how it works.

How does Kikoff Credit Builder work?

There are only 3 recurring steps to the process:

1. Pay the $5 monthly fee. This lets you use the $750 credit line to buy items (starts at $10) from the Kikoff store.
   
2. Pay your fees every month on time.
   
3. Kikoff reports all your payments to the credit bureaus.

If you use it for Rent Reporting and Secured Credit Card, Kikoff also reports these transactions to the credit bureaus.

Rent payments will be reported to Equifax, while card transactions will be reported to Equifax, Experian, and TransUnion.

You can keep using the credit line every month unless you want to cancel it. Plus, you can monitor your credit within the Kikoff app to see any progress or issues.

Pricing and Fees

Kikoff Credit Builder costs $5/mo. But note that you also need to consider the cost of your purchases from the Kikoff store.

That said, Kikoff doesn't charge interest fees, late fees, or other hidden fees. There are also no sign-up fees for using Rent Reporting and applying for a Secured Credit Card.

You can even use the Dispute tool for free to send letters to the credit bureaus. You can use it to challenge erroneous items in your credit report.

Features

Aside from using the revolving credit line to build your credit history, here are other features you can get with Kikoff.

Secured Credit Card
The Secured Credit Card works as a debit card and a checking account. It's a physical card that you can use for groceries, shopping, and dining.

You can use the Secured Credit Card to build a credit history too. For a minimum deposit of $50, Kikoff reports your transaction to the three credit bureaus.^[3]

The funds you will deposit set the credit limit of the card. What's more, you can link qualifying direct deposits from your paycheck and use your funds up to 2 days early. You'll also get overdraft protection without any fees.

Rent Reporting
Kikoff also features Rent Reporting, where it reports your rent payments to Equifax.

If you already have an account with Kikoff, just link the bank account you currently use to pay rent. Then, fill out information about your lease and landlord.

Just make sure to pay on time to avoid late payments that may drag down your score.

Disputes
You can dispute items on your Equifax credit report through your Kikoff account. You can select up to 5 negative items dragging your credit, then send letters to the credit bureaus.

Kikoff will email you a confirmation for your disputes. You will also receive notifications for updates.

It can take 45–60 days to process your dispute letters. You may also check the status of your disputes in your Kikoff account.

Does Kikoff really help build credit?

On average, Kikoff users with a credit score below 600 get a 58-point increase by paying on time.^[5] This can be thanks to the many features that Kikoff offers to help build your credit.

You can use the credit line to make and pay them back monthly. You can also report your rent payments and use the secured credit card to add more transactions to your credit history.

However, using Kikoff doesn't guarantee that your credit will improve right away. Nor will it ensure that your credit score will increase every month. Your debts, other accounts, and payment activities also influence how much your credit will improve.

If you're dead set on trying out this credit builder, here's how you can get started.

How to open a Kikoff account

If you're a US citizen at least 18 years old, you can open an account within minutes.

Here's how:

1. Go to Kikoff's sign-up page and join using your email.
   
2. Confirm your email and log in to your account.
   
3. Fill in your name, phone number, birth date, home address, and Social Security number (SSN).

Kikoff doesn't require a minimum credit score or income before you can open an account, and there will be no hard pull on your credit when you do.

Kikoff is designed to help people with little to no credit history build credit. Kikoff doesn't disclose any information or requirement for a co-signer/co-applicant to open an account.

Is Kikoff legit?

Yes, Kikoff is legitimate. It has over 1 million downloads from Google Play with an average rating of 4.8 out of 5 stars.

It also has an average rating of 4.9 out of 5 stars from over 127,000 iOS ratings. And it has received a B- rating from the Better Business Bureau.^[6]

To help you understand what these ratings are about, here are some of the feedback from some of Kikoff's users.

Customer Reviews

Generally, Kikoff has received good customer feedback. For example, it has helped boost Bill's credit score from below 500.

However, not all users had a good experience with Kikoff. In fact, Kat's account was closed without warning.

Many users have benefitted from using Kikoff. However, it's not perfect, and not all users will have the same experience.

Many users have commented on the lack of proper customer support, some surprising drops in credit scores, and sudden account closures.

How to Contact Kikoff

If you have concerns or questions, you can contact Kikoff via:

• Phone: +1 (844) 741-9292
  
• Email: help@kikoff.com

You can cancel your credit line and close your account via phone, email, or the app. However, closing your Kikoff account may negatively impact your credit if you've made at least one payment.

If you cancel your credit line within 45 days from your first payment, you're entitled to a 45-day satisfaction guarantee. Meaning, you can request for a refund for items and/or monthly fees. Kikoff will process your refund within 3–5 business days.

If you want to look for other ways to build your credit, you can start with the following alternatives.

How Kikoff Compares

Kikoff vs Kovo
Kikoff and Kovo work similarly when it comes to building credit. Both come with a monthly fee and report your transactions to the credit bureaus.

However, Kovo is a little more expensive, with the membership fee costing you $10 per month for 24 months.^[7] This lets you access various digital courses and 24 months of ID monitoring.

In addition, Kovo requires a lock-in commitment, while your Kikoff account doesn't expire. But unlike Kikoff, Kovo reports your monthly payments to Equifax, Experian, TransUnion, and Innovis.

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• No credit check
• Instant approval
• 0% APR / $0 fees

Kikoff vs Self
Self works like a reverse loan, and you need to pick a plan ranging from $25 to $150.

You'll be locked in for 24 months, just like with Kovo. However, Self locks your payments into a CD with one of its FDIC-insured partner banks so you get most of your money back in the end, minus interest and fees (which isn't the case with Kikoff).

Regarding credit bureaus, Self reports your payments to Experian, Equifax, and TransUnion.

Apply for a Credit Builder Account at Self

• Get the Credit Builder Account that helps build credit today!
• Choose the plan that fits within your budget
• Monthly payments are reported to the three major credit bureaus.

Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.

Click Here to Apply Now

Kikoff vs Cheese
Cheese is a credit builder loan and works like Self. You'll be choosing between a $500, $1,000, or $2,000 loan amount. As for your loan term, you can choose between 12 or 24 months.

Although Kikoff may be more affordable, Cheese gets you most of your money back in the end. So, you're building credit and savings at the same time.

Also, Cheese reports your monthly payments to Equifax, Experian, and TransUnion.

Bottom Line

Kikoff is an affordable credit builder with minimal fees. For $5/month, you get access to a $750 credit line that gives you the chance to lower your utilization.

In addition, if you sign up for Rent Reporting and Secured Credit Card, you can add more positive transactions through your rent payments and card transactions. You can even use the free dispute tool to request removals in your credit report.

That said, you can see that Kikoff offers a variety of options to help you improve your score. It's a great tool to help you develop a good credit history as well.

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