KOHO Credit Builder Review 2025 — Build Credit With KOHO

KOHO Credit Builder is a $7/month add-on that helps Canadians build their credit score without a hard credit check, no security deposit, and no risk of missing payments. Here's our full review.

What Is KOHO Credit Builder?

KOHO Credit Builder is an optional add-on feature available on any KOHO plan. It works by creating a secured line of credit in your name, then automatically paying it off each month using funds from your KOHO account. Each on-time payment is reported to Equifax, building your credit file over time.

It's specifically designed for people who want to build credit without taking on debt risk — perfect for newcomers to Canada, students, or anyone recovering from past credit issues.

How KOHO Credit Builder Works

Sign up for KOHO Credit Builder — Add Credit Builder to any KOHO plan for $7/month. No hard credit check, no security deposit required.

KOHO opens a secured line of credit — KOHO holds a small amount from your balance as security to back the line of credit.

Monthly payments are made automatically — KOHO makes the payments on time, every month, on your behalf.

Equifax receives the payment report — Each on-time payment is reported to Equifax, building your credit history and improving your score.

KOHO Credit Builder: Key Details

Feature	Details
Monthly cost	$7/month (add-on to any KOHO plan)
Credit bureau reported	Equifax
Hard credit check	No
Security deposit	No
Credit limit reported	~$30 (small secured line)
Minimum KOHO balance	Small amount held as security
Can cancel anytime	Yes

Who Should Use KOHO Credit Builder?

Newcomers to Canada — No Canadian credit history? KOHO Credit Builder starts your file.
Students — Build credit before you need it for an apartment or car loan.
Credit recovery — Past issues? Add positive payment history month over month.
Anyone denied for credit cards — KOHO has no credit check requirement.

Real Results: Many KOHO users report credit score improvements of 10–100+ points over 6–12 months of using Credit Builder consistently. Results vary by individual situation.

KOHO Credit Builder vs. Secured Credit Cards

Feature	KOHO Credit Builder	Secured Credit Card
Monthly cost	$7/month	Annual fee $29–$79
Security deposit	None	$200–$500 required
Credit check	None	Soft or hard check
Risk of missing payments	None (automated)	Yes (damages credit)
Credit bureau	Equifax only	Equifax + TransUnion
Actual credit available	No	Yes

KOHO Plans: Pick the Right One

Plan	Monthly Fee	Cashback	Credit Builder
Essential	Free	0.5% on grocery/transport	+$7 add-on
Extra	$9/mo	1.5% on grocery/transport	+$7 add-on
Everything	$19/mo	2% on grocery/transport + no FX fee	+$7 add-on

Get $100 Cash When You Sign Up for KOHO

Add Credit Builder for just $7/month and get your credit journey started — plus earn a $100 cash bonus with this referral code:

45ET55JSYA

No credit check. No minimum balance. Start building your credit today.

Claim $100 + Start Credit Builder

Frequently Asked Questions

Does KOHO Credit Builder actually work?

Yes. KOHO reports monthly payments to Equifax, which builds your credit history over time. Users typically see score improvements within 3–6 months. The key is consistency — keeping the feature active long-term yields the best results.

Does KOHO Credit Builder report to both Equifax and TransUnion?

Currently, KOHO Credit Builder reports only to Equifax, not TransUnion. Some lenders check both bureaus, so this is a limitation compared to some secured credit cards that report to both.

How long does it take to see credit score improvements?

Most users see changes within 3–6 months. Significant improvements (50+ points) typically take 6–12 months of consistent on-time payments.

Can I cancel KOHO Credit Builder anytime?

Yes. You can cancel Credit Builder at any time through the KOHO app. There are no cancellation fees or penalties.

Is KOHO Credit Builder worth the $7/month?

For most people building credit, yes. $84/year is significantly cheaper than a secured credit card with a $200–$500 deposit plus annual fees. And the fully automated nature means zero risk of missed payments damaging your score.

Can newcomers to Canada use KOHO Credit Builder?

Yes. KOHO is one of the best options for newcomers. No Canadian credit history is required, no SIN is needed to open a KOHO account, and Credit Builder will start building your Canadian credit file from day one.