Build your credit score without a credit check. We test the $7/month KOHO Credit Builder to see if it's actually worth it.
What is KOHO Credit Builder? It's a $7/month add-on to any free KOHO account. KOHO sets aside a small secured amount that reports as an active credit account to both Equifax and TransUnion. You don't borrow money — you just establish a credit file that grows each month you pay on time.
If you're new to Canada or have no credit history, you won't have a score yet. Equifax/TransUnion need at least one account reporting to generate a score.
After KOHO's first monthly report, your credit file is created. Initial scores are typically 300–500. This is normal — a "thin file" starts low but improves quickly with on-time payments.
With 3–6 months of consistent on-time reporting, most users see scores in the 580–640 range. This is the "fair" zone — enough to qualify for basic credit cards and some car loans.
By 6–12 months, many users hit the "good" credit tier (650+). At this point, you may qualify for major credit cards, better car financing rates, and some mortgage pre-approvals.
After 12–24 months with KOHO Credit Builder plus one additional credit card, most users reach the "very good" range (700+). Best mortgage rates typically require 720+.
| Method | Cost | Credit Check? | Reports to Bureaus | Speed |
|---|---|---|---|---|
| KOHO Credit Builder | $7/mo | No | Equifax + TransUnion | 30–60 days |
| Secured Credit Card (bank) | $0–$12/mo + deposit | Yes (soft) | Both | 30–60 days |
| Secured Credit Card (Capital One) | $0/mo + $75–$300 deposit | Yes (soft) | Both | 30–60 days |
| Credit-Builder Loan (credit union) | $15–$30/mo | Sometimes | Both | 3–6 months |
| Authorized User (family/friend) | $0 | No | Varies | 30 days |
| Borrowell/Refresh Credit | $17–$25/mo | Soft | Both | 3–6 months |
KOHO Credit Builder is the fastest, easiest way to build a Canadian credit score without a credit check. Start with the free KOHO account and add Credit Builder ($7/mo) anytime. Use code 45ET55JSYA for a $100 welcome bonus.
Open KOHO Free — $100 Bonus →No. KOHO Credit Builder does not require a hard credit inquiry. You can activate it with no credit history at all — perfect for newcomers to Canada, students, or anyone starting from scratch.
Most users see their first credit score appear within 30–60 days of activating KOHO Credit Builder. Scores typically reach the "fair" range (580–640) within 3–6 months and "good" (650+) within 6–12 months with consistent on-time payments.
Yes. KOHO Credit Builder reports to both Equifax AND TransUnion — both of Canada's major credit bureaus. This is important because lenders and landlords may check either bureau. Some competitors only report to one.
Yes, for most Canadians building credit from scratch. The $7/month investment pays off when a higher credit score gives you access to better credit cards, lower car loan rates (often 2–5% savings), and better mortgage rates. Improving from a 550 to a 720 score can save $100+ on a mortgage.
Yes. You can cancel Credit Builder at any time from the KOHO app without closing your main free KOHO account. Your credit history remains on your credit file even after cancelling.
Most users with no previous credit history reach a score of 580–650 after 6 months of consistent Credit Builder use. Results vary based on factors like existing credit activity, payment history on other accounts, and whether you open additional credit products.
Review as of March 2026. Bremo earns referral commissions from KOHO at no cost to you. Credit timelines are estimates based on community reports and may vary.