Kikoff Secured Credit Card: Credit Building Made Easy

The Kikoff Secured Credit Card is a game-changer for those looking to build credit from scratch. It reports to all three major credit bureaus, making it an excellent choice for credit beginners.

This card requires a security deposit, which becomes your credit limit. The deposit amount is refundable if you close the account or upgrade to an unsecured card.

Kikoff offers a $200 credit limit minimum, with a $49 annual fee. This fee is waived for the first year, giving you a chance to try out the card risk-free.

By using the Kikoff Secured Credit Card responsibly, you can start building a strong credit history and improve your credit score over time.

The Kikoff Secured Credit Card is a great tool for building credit, especially for those who have struggled with credit in the past.

It doesn't require a credit check, which is a huge relief for those who have been turned down by traditional credit issuers.

The card has no annual fee and 0% interest, making it a very affordable option.

You'll need to make a minimum deposit of just $50 to get started.

The card reports to the three major credit bureaus, which is essential for building a strong credit history.

You can use the card to make purchases and deposits, just like a debit card and checking account.

If you deposit over $500 each month, you'll qualify for overdraft protection starting at $20, which can increase over time.

Setting up direct deposit can even get you your paycheck up to two days earlier.

Kikoff's main benefits will appeal to you if you're trying to build your credit score through small but consistent payments. They offer a line of credit, as well as some additional features, depending on your membership plan.

You can pause your required monthly payments to your Kikoff Credit Account for one to three statement periods. This feature is called the "Pause Feature" and can be used once per 12 months, and a maximum of two times over the account lifetime.

For another approach, see: Secured Credit Card Fund with Checking Account

Kikoff Disputes helps you identify potential inaccuracies in your Equifax credit report. This service will auto-generate a dispute letter, which you can mail yourself for free, or have Kikoff mail it for you for a $1 fee (waived for premium members).

Users can link their bank account to Kikoff to report on-time rent payments to Equifax. This feature is only available with Kikoff Premium and Kikoff Ultimate.

Kikoff Ultimate plan users will also receive personal data protection and identity theft insurance.

According to Kikoff, users with credit scores below 600 see their scores improve by 58 points with consistent, on-time payments during the lifetime of the account.

Here are some of the key features of Kikoff:

Kikoff also offers a credit builder loan, which costs $10 a month and allows you to collect funds to pay down debt. However, this feature is not available to customers in Hawaii, Indiana, Oregon, and Wyoming.

The Kikoff Secured Credit Card is a great option for those looking to improve their credit score. It's reported to all three major credit bureaus, which is a big plus.

One of the best things about the Kikoff Secured Credit Card is the cashback rewards program. You can earn cash back on your purchases, and it's a great way to maximize your earnings.

The Kikoff Secured Credit Card also has a low cost. There are no late fees or interest charges, and the minimum payment is low.

However, it's worth noting that the line of credit can only be used for purchases at the Kikoff shop. That's a limitation to keep in mind.

Here are some key features of the Kikoff Secured Credit Card:

Kikoff offers three membership plans with varying fees.

The Kikoff Basic plan costs $5 per month, while the Kikoff Premium plan costs $20 per month. The Kikoff Ultimate plan costs $35 per month.

The Premium plan includes an additional rent reporting feature, on top of the services offered in the Basic tier. The Ultimate plan also includes identity theft and data protection.

Here's a quick breakdown of the plans:

Kikoff offers three membership plans to choose from, each with its own set of features and pricing.

The Kikoff Basic plan costs $5 per month, while the Premium plan is $20 per month and the Ultimate plan is $35 per month.

The Premium plan includes all the services of the Basic tier, such as credit reporting and financial insights, with an additional rent reporting feature.

The Ultimate plan tacks on identity theft and data protection to the Premium plan's features.

Both the credit account and the secured card have no annual fees and an APR of 0%, which means you won't be charged interest.

The secured card also has no foreign transaction fees.

Here's a breakdown of the plans:

The balance transfer fee is a significant consideration when deciding on a credit card. A 3% intro balance transfer fee is a relatively standard rate, but keep in mind that future balance transfers may incur a higher fee of up to 5%.

If you're looking to avoid a large upfront security deposit, you might want to consider alternative options like the Capital One Platinum Secured Credit Card. This card allows cardholders to pay a minimum security deposit starting at $49, $99, or $200, based on their creditworthiness.

You might enjoy: Credit Card Numbers with Security Code

The Kikoff secured card is a good option for those who want to build or rebuild their credit score, but it's essential to understand the membership fees involved.

The Kikoff secured card doesn’t have any monthly or annual fees itself, but to get the card, you must have either the Premium or Ultimate plan, costing at least $20 per month.

You can use Kikoff if you're a U.S. citizen with a Social Security number. That's it, no credit check required!

To get approved, Kikoff will run some fraud checks to verify your identity. This is a standard process to ensure everything is legit.

The good news is that Kikoff is available to residents of all 50 states, so you can take advantage of this service no matter where you live.

Related reading: Credit Cards for Students with No Income

Kikoff is not a bank, it's a fintech company that provides banking services through a partnership with Coastal Community Bank, a Member FDIC.

This means that while Kikoff offers banking services, it doesn't have its own banking license.

You can use Kikoff if you're a U.S. citizen with a Social Security number.

To get approved, you won't need to pass a credit check, which is a big plus for people with limited or no credit history.

If you're looking to start building your credit history from scratch, Kikoff is a great option. Kikoff offers different types of credit-building products.

Those who need to rebuild a poor credit history may also find Kikoff helpful. It provides a dispute tool to correct errors on your Equifax credit report.

Kikoff's products are designed to be easy and effective for building credit. Features like affordable monthly fees and credit bureau reporting make it a convenient choice.

If you're looking to start your credit journey, Kikoff is a good place to begin. It offers interest-free payments and no security deposit requirements.

On a similar theme: Building Credit with Credit Cards

Kikoff's customer feedback is very mixed, with nearly 1,000 customer complaints and reviews.

Most customer reviews on Trustpilot are positive, with customers praising the results and improvements they saw to their credit. They also appreciate the easy-to-navigate app and helpful customer phone line.

Complaints on the Better Business Bureau page are mostly from customers who didn't know the Credit Account can only be used in Kikoff's online store and doesn't come with a physical card. This confusion led to some customers canceling their accounts, which can damage their credit.

Readers also liked: Secured Credit Card M&t Bank

Kikoff's customer feedback is very mixed, with nearly 1,000 customer complaints and reviews amassed since its launch in 2019.

The majority of customer reviews on Trustpilot are very positive, often stating that customers were skeptical of Kikoff at first but were surprised by the results and improvements they saw to their credit.

Some customers praise Kikoff's ease of use and cost-effectiveness, finding it to be a helpful way to build credit history through its online store.

Others point out that Kikoff's customer phone line is helpful, providing support to users.

Most complaints on the Better Business Bureau page come from customers who didn't know that the Credit Account can only be used in Kikoff's online store and that it doesn't come with a physical card.

Canceling the account can cause damage to their credit, a concern that Kikoff has acknowledged and attempted to address.

On Reddit, users are often unsure if Kikoff is legitimate, but many threads suggest that it can be a good supplement to other credit-building methods.

Kikoff is seen as an inexpensive way to start rebuilding credit history, with some users reporting dramatic increases in their credit over a few months.

You won't get a physical credit or debit card with the Kikoff Credit Account. This line of credit can only be used in the Kikoff online store to enroll in credit-building plans to pay for small purchases within the online store.

If you want a physical card, the Kikoff Secured Credit Card is a better option, as you'll get a physical card and can use it for purchases outside of Kikoff.

When evaluating the Kikoff Secured Credit Card, it's clear that it stands out from other secured cards on the market.

Unlike many secured cards, Kikoff's card focuses on improving credit scores, making it a great option for those looking to build or repair their credit.

The absence of annual fees and low costs make it a viable option for budget-conscious consumers.

Here are some key differences between Kikoff's card and others:

The Kikoff Secured Credit Card is a great option for those looking to establish or rebuild credit, with a credit limit of up to $2,000 and no annual fee.

You can apply for the card online, and approval is possible with a minimum deposit of $200.

Kikoff reports your payments to all three major credit bureaus, which can help you build credit over time.

With responsible use, you can potentially get approved for a higher credit limit after 6-12 months.

By making timely payments and keeping utilization low, you can improve your credit score and qualify for better credit products in the future.