How To Use KOHO Line Of Credit (How To Make Use Of KOHO Credit Building Program)

How To Use KOHO Line Of Credit (How To Make Use Of KOHO Credit Building Program). In this video tutorial I will show how to use KOHO Line of Credit.

KOHO offers two credit-building programs. They are the credit building program and flexible credit building program. Both are subscription-based and require a soft credit check at sign-up. Here's how to use each.

Credit building program
To enroll, you must have an active KOHO account and be Canadian. Here's how it works:
1. Launch your KOHO app.
2. Go to “Credit.”
3. Select “Credit Building” followed by “Register.”
4. KOHO will run a soft credit check, and you'll receive a tradeline.
5. Set a utilization rate each billing cycle and ensure you have enough in your account to cover the subscription cost.
6. KOHO will use this utilization and payment rate to report your account activity to the credit bureaus. Consistency improves your credit score.

Flexible credit building
This program requires a security of $30 to $500 and a monthly service fee. When the line of credit is active, you can borrow, spend, and repay against this security. KOHO reports your account activity to the credit bureaus, thus improving your credit score. To sign up, Launch the KOHO app, click "Credit," and select "Flexible Credit Building." Follow the prompts to register.

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