On average, customers with credit scores under 600 increase their credit scores by 58 points[1], with consistent on-time payments during the account lifetime. Many Kikoff customers have been able to qualify for better car loans, mortgages, credit cards, personal loans, and more.
You are able to use the Kikoff Credit Account to finance the purchase of goods and services from Kikoff. Unlike a credit card, the Kikoff Credit Account can only be used to make purchases from Kikoff (e.g. can't buy gas or groceries).
While you will no longer be using your account, Kikoff keeps it open to help you continue to grow key credit factors like account age, even after you're no longer paying for a plan.
For most people, increasing a credit score by 100 points in a month isn't going to happen. But if you pay your bills on time, eliminate your consumer debt, don't run large balances on your cards and maintain a mix of both consumer and secured borrowing, an increase in your credit could happen within months.
A FICO® Score of 650 places you within a population of consumers whose credit may be seen as Fair. Your 650 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
The Kikoff card doesn't charge an annual fee, monthly fee, APR or foreign transaction fee. There is a $2.50 ATM withdrawal fee, but only if you withdraw cash from an ATM outside of the Allpoint network.
A well-rated credit-building app, MoneyLion has helped more than half of its users increase their credit score by at least 42 points within 60 days (a huge increase). The app has been proven to increase scores, and it allows users to apply for a Credit Builder Plus loan without having to undergo a hard credit check.
No. The Credit Account is NOT intended for everyday purchases on things like gas or groceries. It can only be used on the Kikoff Store to finance the purchase/renewal of credit builder plans like Kikoff Credit Service Basic, Premium, or Ultimate or, if desired, educational content like eBooks or digital courses.
You can add on other credit-building products once you have your Kikoff Credit Account set up: A $10 per-month credit-builder loan with no annual fees or interest. Kikoff reports your monthly payments to Equifax and TransUnion. After 12 months of payments, you get the money you paid returned to you.
ACH transfer into an external bank account - You may choose to transfer the funds from Kikoff to your connected bank account of choice. This takes 3-5 business days.
You make a purchase with that tradeline (limited to Kikoff), and you just pay back what you spend (our lowest + most popular payment amount is $5/month). We report those payments to Equifax, Experian, and TransUnion every month while your utilization rate stays low.
Always making payments on time can go the furthest to helping you improve credit. Actions you can take: If you're having trouble making payments on time, set up autopay for at least the minimum due and create calendar reminders and alerts through your online account.
There is no physical card with the Kikoff Credit Account. The Secured Credit Card is a secured credit card on the Mastercard network that works like a checking account and debit card. The funds that are deposited set the credit limit of the card so you never have to worry about overspending or due dates.
CreditStrong is our choice for best credit builder loan provider. It offers long repayment terms and a variety of loan options. Other good choices include Credit Karma and Self. The best credit builder loans are affordable, with flexible terms and loan amounts, and payments are reported to all three credit bureaus.
It can take 30-45 days for Kikoff to show up on your credit report depending on when in the month you signed up. Kikoff reports payments to credit bureaus once a month, which takes up to 2 weeks for the bureaus to process.
Your Billing Rights summarizes certain rights provided to you by law that are related to billing on your Card and deposit account, together, your Kikoff Account (Account). The Kikoff Secured Card (Card) Deposit Account (Deposit Account) is issued by Coastal Community Bank, Member FDIC.
Kikoff says the average user with a credit score below 600 increases their credit score by 58 points. That's impressive, but still leaves them shy of the “good credit” threshold.
Fee-free overdraft protection
With qualifying direct deposits, overdraw $20 per month on your card without fees. The amount will increase the longer you keep your banking service with Kikoff, up to $200 per month.
Even better, just over 1 in 5 people (21.2%) have an exceptional FICO credit score of 800 or above, all but guaranteeing access to the best products and interest rates.
While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.