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Kikoff Credit Account: Everything you need to know
February 05, 2021

We’re designed to maximize credit growth.

Good credit opens doors. It shows lenders that you’re trustworthy enough to repay loans. Here’s what that gets you:

  • Lower interest rates, so you can save thousands of dollars
  • Insurance discounts
  • Credit cards with the best rewards
  • An easier time taking out loans – for your car, house, business, etc.

Our goal at Kikoff is to give you fair, effective, and simple pathways to help you meet your financial goals. Building your credit should be easy…so that’s why we made the Credit Account.

You get instantly approved when you apply – no credit check required. The Credit Account has 0% interest and no fees. It shows up on your credit report exactly like a credit card does.

How does it work?

Sign up for the Credit Account

You get instantly approved for a $500 line of credit. We don’t do a credit check, so this doesn’t negatively impact your score at all.

Choose something from the Kikoff store

You decide what to use your Kikoff credit on – no physical card necessary. The items in our store start at just $10, so you pick exactly what fits your budget.

Build credit every month

You pick the item you want to buy on credit from the Kikoff store, so you decide how much you want to pay back every month. You decide how many months of payment history you want to build. We just follow your lead. There’s no minimum time commitment – you can pay back your balance in full at any time.

We report every payment you make to the major credit bureaus, and every payment builds your credit. Our AutoPay feature makes these payments automatically, so you get peace of mind and guaranteed credit growth.

How long will it take to show up on my credit report?

It depends! We report your payment to major credit bureaus Equifax and Experian at the end of every month. It can take up to two weeks to be processed and added to your report. You can always keep track of your score just by signing into your Kikoff account, and we email you with any updates.

How does Kikoff help build my credit?

Our Credit Account addresses three key areas that affect your score: payment history, credit utilization, and average account age. Together, they make up 80% of your credit score.

Payment History

This looks at whether you’ve paid past bills on time. It’s the single most important factor in your credit score. 

How Kikoff helps: We report each monthly payment you make to the major credit bureaus. Each one builds your payment history – and your credit.

Credit Utilization

This is the ratio of how much credit you’ve used to how much you can use – your credit limit. The lower this ratio, the better.

How Kikoff helps: The Credit Account is designed for extremely low utilization rates. We’re talking as low as 2%.

Account Age

The older your accounts, the better. The Credit Account doesn’t expire, so keeping it open will continue to increase the average age of your accounts.

When you initially open your Credit Account, your account age might drop. This may even impact your credit. But remember that this drop is only short term! Starting a brand new account can bring your average age down. If you keep that account open, though, the average will go up even more than you started with. Opening a Credit Account gives you a long term positive with age.

Alright, I’m interested. But how is the Credit Account different from a credit card, or other credit builders?

Funny you asked 😉. We’re different because we maximize credit growth. We encourage long payment history – seriously, once you open a Credit Account you can keep it forever – in addition to ridiculously low credit utilization.

We’re also one of the most affordable credit builders out there. We believe in transparency and accessibility. Our Credit Account has 0% interest and no hidden fees. There’s no credit check to apply, and no deposit necessary. Here’s how we stack up among competitors:

The sooner you start with credit growth, the more you have. We’re here for you on your financial journey! Whatever your goals are, let’s help you reach them. 

More questions? Check out our FAQ. Nerdwallet also breaks down the Kikoff Credit Account in this review (that we did not pay them to write 😎).