What is Kikoff?
Kikoff is an online credit-building platform that allows users to build their credit history for free. The company was founded by two former bankers who wanted to help people get out of debt. Their solution is a revolving line of credits that you can use to purchase products at their online store. You can make payments on your purchases over time, and they don’t charge any interest or fees. The company reports your activity to the three major credit bureaus so you can improve your credit score.
How Does Kikoff Work?
Kikoff works by providing you with a $750 revolving line of credit every month in your Kikoff Credit Account, which you can then use in their Kikoff store. You can choose from a variety of items from their store, with the cheapest items at just $10. Once you make purchases, every on-time payment you make on your credit line will help you build your credit.
It is important to note that you build your credit over time. Every month, they report your account to the three major credit bureaus, Experian, TransUnion, and Equifax. This helps improve your overall credit score. And because they don’t charge any fees, there’s no risk involved.
How Does Kikoff Build Your Credit?
Your Kikoff Credit Account addresses the three main factors that affect your credit score, which are your payment history, credit utilization, and the average age of your account.
Payment History
Your payment history is considered as the most significant factor affecting your credit score, which comes at around 35%. This reflects whether you’ve paid your credit bills when they’re due. The Kikoff Credit Account helps you establish and build a payment history, maximizing your credit-building power. They’ll report each of your on-time monthly payments to the major credit bureaus, which in turn builds your payment history and, of course, your credit.
Credit Utilization
Credit Utilization is the ratio of the amount of credit you’ve used versus your available credit limit. The rule is that the lower this ratio is, the better impact it has on your credit. Kikoff designed the Credit Account specifically for extremely low utilization rates. That is why their store items start at just $10, which means buying an item at their store on credit comes about to a rate of only 2%.
Account Age
Account age determines how old your accounts are; the older they are, the better. This is why Kikoff’s Credit Account has no expiration, so as long as you’re willing to keep it open, it will continue to increase your average account age.
You should note that when you initially open a Kikoff Credit Account, you’ll notice that your average account age drops. But what you have to remember is that this drop is only temporary. This happens every time you start any new account, but keeping it open for the long term will give you a positive impact on your credit score.
What are the Advantages of Using Kikoff?
There are many reasons why you should consider using Kikoff:
- Kikoff is completely free to join. There are no hidden charges or extra fees.
- Kikoff is 100% secure. Your private data is kept safe at all times.
- Kikoff provides quality services. It works closely with lenders to ensure that borrowers are able to access the best deals possible.
Kikoff is also extremely easy to use. You just need to sign up for an account and start building your credit. Finally, if you’ve had trouble getting traditional loans because of bad credit, Kikoff could be a good option. Since there are no credit checks required, you won’t have to worry about being denied.
Is Kikoff Right for You?
If you have bad credit, this might be the right option for you. It doesn’t matter if you’ve had past bankruptcy, missed payments, or even been late on rent once or twice. In addition, Kikoff is perfect for those who don’t want to pay high rates of interest on their existing debts. By signing up for Kikoff, you can try to rebuild your credit history without having to pay expensive fees. All you need to do is to prove that you’re willing to change your ways and build your credit score up.
Kikoff is a great way to start improving your credit score. However, you must understand that building your credit takes time and Kikoff does this gradually but consistently. If you want an immediate increase in your credit score, then you may want to consider another method. In conclusion, it’s a low-cost alternative to other credit-building services out there.
How to Get Started with Kikoff
The first step is to create an account on Kikoff’s website. After creating an account, you will be asked to enter some basic personal information like name, date of birth, gender, phone number, mailing address, etc. Once you have entered all the required details, you are ready to start building your credit.
It is as easy as following these steps:
- Step 1: Enter your email address. You need to provide your email address so that you can receive notifications from Kikoff about new applications and updates.
- Step 2: Start building your credit. After entering your email address, you will see a list of available credit opportunities. These include loans, mortgages, insurance policies, etc. To get started, click on the “Apply Now” button next to the opportunity you want to apply for. You will then be directed to the application form, where you can fill out the necessary information.
- Step 3: Get approved. After submitting your application, you will receive a confirmation email within 24 hours. If everything looks good, you will be notified by Kikoff via email when your application has been accepted. In most cases, you will also receive notification emails from the lender who issued you the loan.
