If you've ever felt frustrated about the whole "go into debt to build your credit history" thing, KOHO has come up with a solution.
Available through the KOHO app, KOHO Credit Building lets eligible users build credit history without a traditional credit card or taking on interest-bearing debt.
Whether you're looking for ways to grow your credit because you're a student, new to Canada, rebuilding your finances, or just want to avoid credit card debt, this simple feature means you can still get credit (pun intended) for your healthy money habits.
KOHO Credit Building is a simple subscription service that reports your on-time payments to Equifax, with no credit check and no interest to get started.
The feature is available through the KOHO app, which also includes spending, saving, cashback and budgeting tools in one place.
Courtesy of KOHO
According to KOHO, users have seen credit history improvements in just a few months. In fact, in the past 12 months, more than 100,000 users have seen their credit history go up by a combined +2.6 million points.¹
Right now, new users can also score a $40 sign-up bonus*. To be eligible, you need to use the code GL4026 when you join KOHO, add money to your account, and make a $20 purchase within 30 days. Once your qualifying purchase is made, the $40 will be credited to your account.
You can learn more here about KOHO and the Credit Building feature.
This content is for general informational purposes only and does not constitute financial, investment, legal, tax or accounting advice.