Kovo Credit Builder Review (2024)

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Kovo Credit Builder

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On Kovo's website

Insider’s Rating



$240 in $10 monthly installments


  • Reports to three major credit bureaus and Innovis, the fourth-biggest credit bureau
  • No additional fees
  • Low monthly payments
  • No credit check


  • You don’t get your money back at the end of the payment period
  • Likely to cost more than many credit-builder loans

Product Details

  • Apply for the Kovo Installment Plan to buy Kovo Courses, and make on-time monthly payments.
  • $10/mo for 24 months. No early payment penalties.
  • No late fees.
  • Build credit and earn rewards
  • No credit check
  • Instant approval
  • 0% APR and $0 fees
  • Your payment performance is reported monthly to the three major credit bureaus and Innovis.
  • Get your FICO® Score and see your credit score journey progress every month.
  • Kovo is available in all 50 states as well as DC.


When you're looking to build credit, it can be difficult to know where to begin. You'll need a service that will report to all three of the major credit bureaus, doesn't require a credit check, and doesn't shake up your monthly expenditures too heavily.

Kovo Credit Builder provides all these things, but there are some caveats you should watch out for. Keep reading to see if it's the best credit builder account for you.

What is Kovo Credit Builder?

Cost:$240 in $10 monthly installments

Kovo is a public benefit corporation that aims to help its users build credit. You pay a monthly $10 for 24 months, all of which Kovo reports to the credit bureaus. In exchange for the $240 you give Kovo, you'll gain access to interactive educational resources.

With $10 monthly payments, Kovo is easy to keep up with from month to month.

The Significance of Building a Robust Credit History

Potential lenders check your credit history any time you want to open a new financial product, credit card, or loan. They tend to only approve applicants who meet certain credit requirements, such as having a good or excellent credit score.

Landlords also review credit when deciding who to rent an apartment to and some employers may even check your credit report for signs of financial responsibility, like on-time payments and low credit utilization, before extending a job offer.

If you don't have good credit, it's worth it to work on raising your score. You may miss out on a low interest rate mortgage, personal loan, or credit card and find yourself paying more over the course of your loan. But if you build a good credit score, you can save money on interest payments, especially now in a high-interest rate environment.

How Kovo Work Credit Builder Works

Typically, a credit-builder account acts like a savings account. You make monthly payments to your creditor, and they report your monthly payments to the credit bureaus. Once your payment is settled, you get a portion of your money back minus any interest they charged on the account.

Kovo works more like a buy now, pay later product than a credit-builder loan. Signing up for Kovo gives you access to a library of interactive educational resources that range from building your personal brand to Google Sheets tutorials, which Kovo claims are worth $400. You're essentially buying this library of content on credit for $240, which you pay back in $10 installments.

Kovo does provide an opportunity to earn some of that money back through its rewards program. Whenever you apply for credit among the offers on Kovo's website, it rewards you through gift cards. The offers vary by state, which you can peruse before you sign up for the service. The amount you can earn comes out to 1% of the loan's value. The max amount you can earn depends on the type of loan:

  • Personal loan: $500 maximum
  • Student loan: $250 maximum
  • Auto loan: $150 maximum
  • Credit card: Flat $75

Benefits of Using Kovo

Kovo Pros and Cons

Kovo has some features we like. Crucially, it reports payments to all three credit bureaus, and applying does not trigger a hard inquiry on your credit report. That said, Kovo is not without its downsides.

  • Low monthly payments

  • Kovo reports to all three major credit bureaus and Innovis, the fourth-biggest credit bureau

  • No credit check

  • No additional fees

  • Rewards program

  • You don't get your money back at the end of the payment term

  • May end up paying more for credit building than many credit builder loans

Another important feature is that Kovo is designed to foster responsible credit use. By making on-time payments and seeing your credit score improve over time, users learn the value of credit and the hard work it takes to maintain it.

Getting Started with Kovo

The enrollment process

With no credit checks and instant approval decisions, Kovo is a very easy sign-up. You'll need to be prepared to provide your Social Security number, address, birthday, and your monthly income. While Kovo doesn't require a credit check, there is a monthly income requirement.

Once approved, which should happen in seconds to minutes, you'll be presented with a contract stipulating that you agree to pay the full $240 in $10 installments over 24 months. The contract is relatively short and includes important information to understand. Make sure you read through it before agreeing to the terms and conditions.

Kovo vs. Other Credit Building Tools

We compared Kovo to Self, one of the credit-builder loan providers we included in our guide for the best credit-builder loans. Self offers monthly payments as low as $25 over 24 months. However, despite the difference in monthly payments, you'll likely end up paying more for Kovo than a service like Self.

That brings us to Kovo's biggest downside: You don't get your money back. When you finish your payments with Self, you get most of your money back, minus interest and fees. Its $25 monthly plan ends up costing you $89 total, assuming you make all your payments as agreed.

However, if your priority is a credit builder account with low monthly payments, Kovo can be a very good option.

Real user experiences with Kovo

Current users are finding success with Kovo. For example, on the website Trustpilot reviewers had positive experiences with Kovo and liked the process.

William L. said, "In two months I saw my credit score go up. Kovo really helped and they do it in a way that I enjoy." And user Montrea T. said, "Since I've joined Kovo my score is improving and it's convenient and an easy payment for me."


What is Kovo Credit Builder?

Kovo Credit Builder is a financial tool designed to help users build or increase their credit score through a structured program with minimal barriers to getting started.

How does Kovo improve my credit score?

Kovo works by allowing users to make small, manageable payments that are reported to the major credit bureaus. These regular, on-time payments contribute positively to your credit history and could lead to a higher credit score.

Who can benefit from using Kovo Credit Builder?

Kovo is ideal for those who are new to credit, looking to rebuild their credit, or improve their current credit score.

How do I start with Kovo?

Starting with Kovo typically involves filling out an application on its platform, providing some personal information, agreeing to the terms, and following the steps to make regular payments towards your credit building.

Do you get your money back with Kovo?

No, you don't get your money back. Kovo is more comparable to a subscription service than a traditional credit-builder loan. The $10 per month is being used to pay for the educational resources that Kovo provides.

How to contact Kovo customer support

You can contact Kovo customer support at support@kovocredit.com. You can also call or text 855-965-5686.

Can you cancel Kovo?

You can cancel Kovo and get a full refund within 30 days of purchase. Send an email to Kovo at support@kovocredit.com with your name, address, and account number to cancel your account.

Jennifer Streaks

Senior Personal Finance Reporter and Spokesperson

Jennifer is a Senior Personal Finance Reporter and Spokesperson for the Personal Finance vertical at Business Insider. She started her career covering personal finance at Black Enterprise Magazine, went on to CNBC where she covered personal finance, women and money and tech and then Forbes, where she reported on personal finance, business, tech and money matters related to the economy, investing, credit and entrepreneurship. Jennifer is also the author of Thrive!...Affordably: Your Month to Month Guide to living your Best Life without breaking the bank. The book offers advice, tips and financial management lessons geared towards helping the reader highlight strengths, identify missteps and take control of their finances. In addition, she has extensive experience as an on-air financial commentator and has been a featured expert discussing credit and savings, investing and retirement, mortgages and all things money and personal finance. She has an ability to discuss and simplify complex financial issues and make them easier to understand. Follow her on Twitter @jstreaks.

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