Wondering how Kikoff differs from StellarFi, an alternative credit building app? We’ve broken down the main differences between Kikoff and StellarFi to help you with your credit building journey.
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| Credit Building Functionality | |
| Kikoff offers different ways to build credit: revolving line of credit, installment loan, secured credit card, and rent reporting. | StellaFi isn’t a loan. It uses your bank account to pay bills and builds credit. |
| Credit reporting | |
| Kikoff Credit Account reports to all three credit bureaus: Experian, Equifax, and TransUnion* | StellarFi reports to just two of the major credit bureaus: Experian and Equifax |
| Savings | |
| Kikoff allows you to build credit with savings with our Credit Builder Loan. You must sign up for a Credit Account Plan before accessing it.* | StellarFi only builds credit with the utility, subscription, and rent you pay. |
| Referral program | |
| Kikoff offers a referral program allowing customers to apply for their Kikoff Credit Account. | StellarFi offers a rewards program allowing members to apply towards their bills. |
| Utilization Rate | |
| Kikoff is built to keep your credit utilization lower than 15%. | StellarFi offers a bill pay limit, but your utilization may go up higher than you expect if you’re not watching your bill payment to bill limit percentage. |
| Pricing | |
| Kikoff’s Basic plan is $5/mo, and we report your payments against a $750 line of credit. Kikoff’s Premium plan is $20/mo, and we report your payments against a $2,500 line of credit. | StellarFi offers monthly and annual plans depending on your bill pay limit. |
*credit builder loans are available to existing Kikoff customers after their first monthly payment
Why Does My Credit Matter?
Why exactly do lenders or other entities look at credit scores? To lenders, your credit score represents your character. By looking at your credit score, lenders can better assess the likelihood of defaulting on your loan. That is, whether you will pay the lenders back per the initial contract. In addition, if your credit score is relatively high, you may get better terms on your loan–like a lower interest rate.
What is Kikoff?
Kikoff is a credit building app that millions of people have used. Our legacy product is Kikoff’s set-and-forget credit builder plan(s). Kikoff plans work to improve key credit factors for just a few bucks a month—and then report your behavior to all three major credit bureaus.
- There’s no credit check
- Plans are affordable, starting at $5/mo
- On average customers see their credit increase by 28 pt
- More credit building options like higher credit line Credit Account Plans, Secured Credit Card, and Credit Builder Loan
How do you get started with Kikoff?
- Sign up in minutes – without a credit check.
- Select from Basic or Premium Plan – and start building credit immediately.
- Set up Autopay so you don’t miss a payment.
- Kikoff reports your payment behavior against a $750 or $2,500 credit line to all three credit bureaus.
- Get access to:
- Kikoff’s Store, which contains eBooks and eCourses on financial literacy.
- Kikoff’s Credit Builder Loan where you build credit with your savings.
- Cancel or pause your account anytime.
Why does credit utilization matter?
You can build your credit with Kikoff’s Credit Account Plans because it addresses three key factors that determine your credit health: payment history, credit utilization, and average account age.
Lenders and creditors use credit utilization as an indicator of your creditworthiness. They want to see that you can manage credit responsibly and not max out your credit cards or other credit accounts. A high credit utilization rate can signal that you may be a risky borrower, making it harder to get approved for credit in the future.
The $5/mo basic plan is reported as a $750 credit line, and the $20/mo basic plan is reported as a $2,500 credit line. This keeps your credit utilization lower than 10%!
Why does payment history matter?
Your credit history establishes a record of your ability to repay debts over time. Creditors look at factors like recent activity, how regularly you make your monthly payments, and how long your accounts have been open to help decide creditworthiness. Kikoff is designed to help you build positive payment history to contribute to your credit growth.
So, Kikoff vs. StellarFi, what’s the best way to build credit?
The good news is that both Kikoff and StellarFi help your credit. It depends on your goals and what you’re looking for.
StellarFi is a good option for those who are already paying their bills and rent on time and want to take advantage of that great habit.
However, suppose you’re looking to build credit fast while building better financial habits. In that case, Kikoff is a better option because we have an all-in-one solution that includes more ways to build credit, including savings and rent reporting. We also offer a Secured Credit Card to build credit on everyday payments without accruing debt.
If you’re still unsure, we’re here to help! You can reach us at support@kikoff.com or call us at +1 (866) 986-0866. We’re available Monday – Friday from 6 am – 6 pm PST or Saturday and Sunday from 6 am – 3 pm PST.
And if you’re ready to start with Kikoff, you can get started HERE.
