In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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Nyble Credit Line
APR Range
0%
Loan Amount
$30 - $150
Loan Term
30 days, extendable

Our verdict

Track your credit score, access a zero-interest small credit line and build your credit history.

Nyble is a strong option when you need to check your credit score or borrow money to cover a small expense. Once you sign up for an account, Nyble will assess your application and approve you to borrow up to a limit. There are no interest charges or fees involved when you borrow. You’ll also get access to your credit score, which you can continue to check for free.

A Nyble membership also gives Canadians the opportunity to report credit line payments to the credit bureau. This is especially helpful for those who are seeking to improve their low credit score or insufficient credit history.

Best for: People who want to check their credit score, build credit or borrow from a small credit line.

Pros

  • Good for building credit history
  • May improve your credit score
  • No interest charges
  • No late fees
  • Easy to use
  • Free to monitor credit score, access credit line and build credit
  • Instant funding

Cons

  • Both on-time and late payments are reported
  • Borrow a small amount only
  • Credit line funding with a free account takes up to three business days

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Nyble?

Launched in 2022, Nyble is a Canadian fintech platform based in Toronto. It offers credit score monitoring, credit building and credit lines.

Nyble is run by Fincentify Inc., an Ontario fintech startup.

Is Nyble legit?

Fincentify Inc., the company behind Nyble, has been listed in the Ontario Business Registry since July 2020. Its registered office is located in Toronto.

The company also has a verified TrustPilot profile with over 2,000 reviews and an Apple App with over 600 reviews.

How does Nyble work?

Nyble offers three services that work together to help Canadians with their finances:

1. Credit score tracking (free)

Create an account with Nyble to access your free Equifax credit score and get updated on changes to your credit report. Checking your credit will not hurt your credit score. As an added perk, Nyble’s app doles out reward points each time your credit score moves up or when you reduce debt.

2. Credit line (free)

Once you create an account, you might be eligible for an interest-free credit line of up to $150. You will need a bank account with an income source to get approved, but a prior credit history is not required.

Credit line funding with a free account takes up to three business days. If you need to receive money faster than that, you’ll need to get Nyble’s premium membership, which provides instant funding.

3. Credit building (free)

All payments, whether they’re late or on time, will be reported to the credit bureau.

Summary of Nyble’s services

ServiceBasic (free)Premium (paid)
Credit score tracking and monitoringGreen check mark outlined by a circleGreen check mark outlined by a circle
Small credit line up to $150Green check mark outlined by a circleGreen check mark outlined by a circle
Credit buildingGreen check mark outlined by a circleGreen check mark outlined by a circle
Rewards availableGreen check mark outlined by a circleGreen check mark outlined by a circle
Earn 5x rewardsRed X outlined by a circleGreen check mark outlined by a circle
Credit line instant fundingRed X outlined by a circleGreen check mark outlined by a circle
Full credit report from EquifaxRed X outlined by a circleGreen check mark outlined by a circle
$100,000 of digital identity protectionRed X outlined by a circleGreen check mark outlined by a circle

You’ll pay $11.99/month for premium membership. Cancel any time.

Nyble Credit Line

Use referral code CFIND1J to get 500 extra points and a $5 higher approval. Conditions apply.

Nyble app features

FeatureDetails
Rates and feesNo interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
Loan amounts$30 – $150
Loan termsChoose a repayment date within 30 days, or roll over your loan to the following month
Serviced provincesAll provinces and territories
Requirements
  • 18 years or older
  • Active bank account
  • Meet income requirements
  • Minimal NSF transactions on your account

How does borrowing from Nyble work?

When you sign up for a Nyble account, Nyble will assess your application and approve you for a certain limit. If your approved limit is $100, for example, you can borrow up to $100, but you can also borrow less if you don’t need that much.

Let’s say you choose to borrow $30. Even though your approved limit is $100, you can’t borrow more until you repay the $30. Once you repay the $30, you can again borrow up to $100.

What we like about Nyble

Track your credit score

Monitor your credit score for free and earn rewards when your score goes up or when your debt decreases.

Easy to use

It’s quick and easy to sign up with Nyble. You can apply online or via the Nyble app within minutes.

Reports payments to credit bureaus

Using Nyble’s line of credit can help improve your credit score.

No interest charges or late fees

Nyble doesn’t charge any interest on the money you borrow. It also doesn’t charge any late fees if you have insufficient funds in your account to pay back what you borrow. However, Nyble is required to report both on-time and late payments.

Flexible loan terms

If you don’t have enough funds this month to repay your loan, you can choose to repay it next month or the month after, and there are no interest or late payment charges. However, you won’t be able to borrow more until you pay off your current loan.

No credit required

You don’t need a credit history to be approved. Instead, Nyble will assess your income and the number of NSF transactions in your bank account.

Use for any purpose

You can use a Nyble credit line for any purpose, whether it’s to pay for a phone plan, upcoming hydro bill and more.

Earn rewards

You can earn rewards for improving your credit and simply for opening an account, and those reward points can be redeemed for gift cards at places like Starbucks, Amazon, Best Buy, Apple, Tim Hortons, Cineplex, Uber Eats and more. Earn 5x the rewards with a premium membership.

Digital protection

A Nyble premium membership includes up to $100,000 in identity theft coverage, up to $25,000 in ransomware coverage, up to $25,000 in social engineering coverage and credit monitoring.

Credit line is always available

Once you’ve been approved for a Nyble line of credit, provided you make on-time repayments, the line of credit is available when you need it.

Free trial for premium

Nyble also offers customers a 30-day free trial for premium, after which a monthly membership fee applies.

What to watch out for

Monthly fee for premium

Once your free 30-day trial is over, you’ll be charged $11.99/month for premium membership. You’ll need to cancel your subscription within 30 days if you don’t want the premium account.

Funding takes longer for free accounts

It’ll take up to three days to get free credit line funding from Nyble, which isn’t suitable if you need funds urgently.

Small amounts

The maximum amount you can access with a Nyble line of credit is $150, which may not be enough for your needs.

No phone number

There’s no contact number listed on the Nyble website, so you’ll need to use live chat if you want to get in touch with customer support.

No Android app

At the time of writing, Nyble’s Android app was not yet available.

How much does Nyble cost?

It’s free to access the credit monitoring service, credit line and credit monitoring service. Nyble charges $11.99/month for premium membership, which includes more services, such as instant funding and digital protection.

Nyble vs KOHO

KOHO Cover cover allows you to access up to $20 for $5 per month. See how it compares to Nyble in the table below.

FeatureNybleKOHO
Loan amounts$150$20
Loan terms30 days, extendableN/A
Interest rates0%0%
Fees
  • No interest or fees to access credit line, optional $11.99/month membership to get premium services such as instant funding
  • $11.99/month for premium membership
subscription fee starting at $2/month
SpeedUp to three days with a free account, instant with a premium accountInstant
Income requirementsMust receive employment or government incomeSet up direct deposit for your KOHO account to access Cover sooner
Extra perks
  • Track credit score and earn rewards when it goes up or when you reduce debt
  • Improve your credit score with on-time payments
  • Digital protection plan to provide coverage for identity theft (premium membership only)
  • Earn cash back on purchases
  • Earn interest on your balance
  • Access credit building services

What do Nyble reviews have to say?

Nyble reviews are largely positive on sites like Trustpilot and the iOS App Store. Positive reviews mention that the service is easy to use and offers fast access to cash when you need it.

Negative reviews mention the monthly membership fee and only being able to qualify for small advance amounts.

Summary of Nyble reviews

FeatureDetails
Better Business Bureau accreditedNo
Better Business Bureau ratingN/A
Better Business Bureau reviewsN/A
Trustpilot reviews4.8 out of 5 stars, based on 2,589 Nyble reviews
Apple App Store reviews4.7 out of 5 stars, based on 630 Nyble reviews
Reviews verified as ofJanuary 10, 2024

Am I eligible to borrow from Nyble?

You’ll need to meet the following criteria to qualify for a line of credit from Nyble:

  • Be 18 years old or older (or the age of majority in your province)
  • Have an active bank account
  • Meet minimum income requirements (higher employment income will increase your chances of being approved)
  • Have minimal NSF transactions on your account

How to sign up for a Nyble loan

You can sign up online or via the Nyble app. You’ll need to provide the following:

  • Your name, email address and phone number
  • Your date of birth
  • Your bank account details
  • Proof of ID

Once you’ve signed up, you can check your credit score and select the loan amount you need from your approved credit line amount.

Sign up

How can you download Nyble?

You can download the Nyble app from Apple’s App Store. However, we couldn’t find the app on the Google Play store.

The iOS app features a user-friendly interface and allows you to apply for a line of credit within minutes. It’s also received hundreds of positive reviews from users.

If you’re not using the app, Nyble’s mobile site is similarly easy to use. All the features you need are easy to find, and the site is quick and responsive.

Frequently asked questions

Sources

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