which company has like koho $7 loan repair but for equifax? thx
which company has like koho $7 loan repair but for equifax? thx
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which company has like koho $7 loan repair but for equifax? thx
- Last Updated:
- Jul 21st, 2021 10:02 am
Tags:
- SCORE0
- kocoman [OP]
- Deal Addict
-
- Feb 23, 2004
- 3847 posts
- 398 upvotes
- Calgary
1 reply
- someweirdo
- Deal Addict
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- Jul 16, 2019
- 1577 posts
- 1999 upvotes
If you want to use Koho's credit building, I think a good strategy is to:
1. Use Koho's credit building until your Transunion score is good enough to get a credit card.
2. Apply for a credit card that (usually) only checks Transunion, since Koho's credit building only reports to Transunion and not Equifax. Hopefully you get approved.
3. Cancel Koho's credit building. No need to keep paying $7/month when you can use your credit card to improve your score instead.
4. Your new credit card will report to both Transunion and Equifax, helping to improve your credit score with both bureaus.
I've never used Koho's credit building, so I don't know how well it works.
Another strategy is to simply get a secured credit card, which will report to both Transunion and Equifax right off the bat. It's very easy to get approved for a secured credit card. This will have a bigger upfront cost than Koho's credit building. But once your credit score is good enough for you to get an unsecured credit card, you can cancel your secured credit card and get your money back.
Depending on how bad your credit currently is, you may also want to try going straight to an unsecured credit card. I believe Canadian Tire and PC Financial are the most lenient issuers of unsecured credit cards in the country. Your initial credit limit would be low, but you could build it over time.
1. Use Koho's credit building until your Transunion score is good enough to get a credit card.
2. Apply for a credit card that (usually) only checks Transunion, since Koho's credit building only reports to Transunion and not Equifax. Hopefully you get approved.
3. Cancel Koho's credit building. No need to keep paying $7/month when you can use your credit card to improve your score instead.
4. Your new credit card will report to both Transunion and Equifax, helping to improve your credit score with both bureaus.
I've never used Koho's credit building, so I don't know how well it works.
Another strategy is to simply get a secured credit card, which will report to both Transunion and Equifax right off the bat. It's very easy to get approved for a secured credit card. This will have a bigger upfront cost than Koho's credit building. But once your credit score is good enough for you to get an unsecured credit card, you can cancel your secured credit card and get your money back.
Depending on how bad your credit currently is, you may also want to try going straight to an unsecured credit card. I believe Canadian Tire and PC Financial are the most lenient issuers of unsecured credit cards in the country. Your initial credit limit would be low, but you could build it over time.