{"id":1050251,"date":"2025-01-10T13:18:33","date_gmt":"2025-01-10T18:18:33","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=1050251"},"modified":"2025-06-04T15:07:01","modified_gmt":"2025-06-04T19:07:01","slug":"kikoff-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/personal-loans\/kikoff-review","title":{"rendered":"Kikoff: How does it work and is it a scam?"},"content":{"rendered":"

What is Kikoff?<\/h3>

Kikoff is a US fintech based in San Francisco. Established in 2019, it offers multiple credit building products to customers in the United States. These include a line of credit, a credit building loan, a secured credit card and a rental payment reporting service.<\/p>

For Canadians, Kikoff currently only offers a revolving line of credit known as the Kikoff Credit Account.<\/p>

Is Kikoff available in Canada?<\/h3>

Yes, Kikoff is available in Canada. Canadians with low or no credit can use the Kikoff Credit Account to help improve their credit score.<\/p>

However, it\u2019s worth noting that Kikoff is not available everywhere. Residents of Quebec, Saskatchewan, Nova Scotia and New Brunswick cannot open an account.<\/p>

Is Kikoff legit?<\/h3>

Yes. Kikoff is a legit US fintech that was founded in 2019. The company launched its credit building platform in the US in 2021 and recently expanded into Canada.<\/p>

Kikoff has received over 1,000 reviews on Trustpilot and has a B- rating from the Better Business Bureau. You can check Kikoff\u2019s terms of service and privacy policy before signing up for an account.<\/p>

How Kikoff works<\/h3>

If you want to sign up for a Kikoff Credit Account and improve your credit, here\u2019s what you need to do.<\/p>

Sign up online<\/h4>

Visit the Kikoff website, select Sign up<\/strong>, then enter your email address and create a password. You\u2019ll also need to verify your email and enter your name, date of birth and contact details to create an account.<\/p>

Get your line of credit<\/h4>

Provide your financial information and proof of ID to apply for a Kikoff Credit Account. If approved, you can set up automatic payments for your $10 monthly plan.<\/p>

Kikoff reports to the credit bureau<\/h4>

Kikoff reports your payment history to Equifax, a credit bureau. This is intended to help improve your credit in three ways:<\/p>

  • You can build a history of on-time payments.<\/li>
  • Because the Credit Account is not used for everyday spending, you\u2019ll be able to demonstrate low credit utilization.<\/li>
  • You\u2019ll eventually have an old account and a longer credit history.<\/li><\/ul>

    Increase your credit score<\/h4>

    By the end of 12 months, you will have hopefully improved your credit score. But you won\u2019t get any money back.<\/p>

    Pros and cons of Kikoff<\/h3>
    <\/div>

    Pros<\/h4>
    • Improve your credit score.<\/strong> Kikoff reports your $10 monthly payment to Equifax to help improve your credit score. Kikoff reports an average credit score increase of 28 points in the first two months after signing up.<\/li>
    • No credit checks.<\/strong> Kikoff doesn\u2019t conduct a hard pull on your credit file when you apply, so bad credit or no credit won\u2019t stop you from getting funded.<\/li>
    • No interest.<\/strong> There are no interest charges to worry about when you open a Kikoff line of credit.<\/li>
    • No hidden fees.<\/strong> There are no annual fees or late fees to pay on the Kikoff Credit Account.<\/li>
    • Automatic payments.<\/strong> If you opt in to the Autopay feature, you can make on-time payments and boost your credit score without any extra effort.<\/li><\/ul>

      Cons<\/h4>
      • $10 a month.<\/strong> The Kikoff Credit Account comes with a flat monthly plan fee of $10.<\/li>
      • Can\u2019t use funds to pay for everyday expenses.<\/strong> The Kikoff Credit Account is designed to be used for credit-building purposes only and doesn\u2019t come with a linked debit card, so you can\u2019t use your line of credit to pay for everyday bills or purchases.<\/li>
      • Only reports to Equifax.<\/strong> Kikoff doesn\u2019t report payments to TransUnion, Canada\u2019s other main credit bureau.<\/li>
      • Not available everywhere.<\/strong> Kikoff is not available in Quebec, Saskatchewan, Nova Scotia and New Brunswick.<\/li><\/ul>

        Alternatives to Kikoff<\/h3>