New Credit Builder Option?

[Anonymous]

I recently saw a link in a Facebook group for a YouTube video of some young kid (couldn't be more than 21) talking about something by the name of KikOff.  I found the website and just seems too good to be true.

In short, it's a 12 month installment loan for......$1 a month.  $12 total.

Anyone heard of this?  If it's real, it'll catch on like wild-fire.  I'm a fan of Credit Strong, but think this would be a good short-term rebuilder option in lieu of Self-Lender.

Thanks.

[Anonymous]

Sounds too good to be true honestly. They give you the $12 to pay back to them and charge nothing. These kinds of programs have costs associated with them. If they aren't making money off you directly, you have to wonder what they're doing to be profitable. Check their privacy policy and terms of use. They're making money somehow. 

You also have to factor in the inherent risk of giving an unknown entity your credit info. 

[daveg38]

Seems extremely legit and actually pretty intelligent. I, too, am wondering how they are making money.

They deposit $12 into an account that you create. From that account, you pay $1 per month, with apparently 0% interest. Problem is, if I'm a lender, and I see a high credit limit of $12, I'm going to disregard that entry.

[FireMedic1]

I wouldnt trust anything from Falsebook.

[Anonymous]

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@daveg38 wrote:

Seems extremely legit and actually pretty intelligent. I, too, am wondering how they are making money.

They deposit $12 into an account that you create. From that account, you pay $1 per month, with apparently 0% interest. Problem is, if I'm a lender, and I see a high credit limit of $12, I'm going to disregard that entry.

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That is exactly what I was thinking. Why would anyone think $1 payments and a $12 loan make them seem fiscally responsible? It almost would look like an error.

[Anonymous]

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@FireMedic1 wrote:

I wouldnt trust anything from Falsebook.

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It has a website.

[FireMedic1]

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@Anonymous wrote:

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@FireMedic1 wrote:

I wouldnt trust anything from Falsebook.

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It has a website.

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You can build a website on Go Daddy for $10 a month. And they'll host it after you buy the domain name.

[Anonymous]

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@FireMedic1 wrote:

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@Anonymous wrote:

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@FireMedic1 wrote:

I wouldnt trust anything from Falsebook.

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It has a website.

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You can build a website on Go Daddy for $10 a month. And they'll host it after you buy the domain name.

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True.  You and the others do bring up a good point.  How are they making money?  They must sell the data or something.  If I didn't have an auto loan, student loans, and a Credit Strong, I'd look into it for myself.

[CYBERSAM]

They are most likely going to gather and sell your information! There is a good demand for newly verified personal info that companies are welling to pay for. Especially if the fine print exempt them form DoNotCall list.

On a personal note, 4 years ago I got a CC from CreditOne and still to this day I'm receiving Spam/Scam phone calls EVERY DAY.

[Anonymous]

I tried it so far it shows up on EQ waiting to see where else.

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@Anonymous wrote:

I recently saw a link in a Facebook group for a YouTube video of some young kid (couldn't be more than 21) talking about something by the name of KikOff.  I found the website and just seems too good to be true.

In short, it's a 12 month installment loan for......$1 a month.  $12 total.

Anyone heard of this?  If it's real, it'll catch on like wild-fire.  I'm a fan of Credit Strong, but think this would be a good short-term rebuilder option in lieu of Self-Lender.

Thanks.

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