How to Check CRB Status on Phone in Kenya
Learn how to maintain a positive credit rating by regularly checking your CRB status on your phone in Kenya
If you've ever wondered, "How can I check my CRB status on my phone in Kenya?" you've come to the right place. It's crucial to know your credit status, especially if you plan on securing loans in the future. Having a poor credit rating could hinder your ability to receive financial assistance. This comprehensive guide will walk you through the steps you need to take to verify your CRB status on your phone in Kenya.
A credit Reference Bureau (CRB) is an institution that keeps track of your credit history. Lenders report to the CRB when borrowers fail to repay their loans. Being "blacklisted" by CRB means you have a poor credit rating, which could hinder your ability to receive loans from regulated lenders. Therefore, regularly checking your CRB status is crucial.
Checking Your CRB Status in Kenya
Three leading CRB institutions in Kenya are authorized to provide details on non-performing loans: Metropol, TransUnion, and CreditInfo. Let's look at how to check your CRB status online with each of these.
1. Metropol CRB Status Check
Metropol is a trusted credit referencing firm in Kenya. To check your CRB status with Metropol, follow these steps:
- Access the Metropol Website or dial *433#.
- Pay Ksh.50 via PayBill Number 220388 using your ID number as the Account Number.
- You'll receive a confirmation message. After registration, dial *433#.
- Input your Identification Number to receive an SMS with your CRB Details.
- Metropol provides a credit score between 200 and 900. If your score exceeds 400, lenders will view you as a default risk. Scores closer to 900 indicate good credit health, increasing your chances of getting a loan.
2. CreditInfo Kenya CRB Status Check
CreditInfo Kenya is part of the multinational Creditinfo Group. To check your CRB status with CreditInfo Kenya:
- Visit their website and fill in the credit request form.
- Wait for a response via email containing your credit report and CRB status.
3. TransUnion CRB Status Check
TransUnion is an international credit referencing company. To check your CRB status with TransUnion:
- Send an SMS with your full names to 21272.
- Enter your ID number and select "Credit Information."
- Wait for a reply message with your credit status.
- Alternatively, you can use the TransUnion Nipashe app or their website to check your CRB status.
Obtaining a Free CRB Status Report
TransUnion allows you to access a free credit report once a year. However, if you require more than one report yearly, you must pay Ksh.650 via PayBill 212121.
Understanding and regularly checking your CRB status is essential for managing your financial health. Ensure you periodically settle your loans to maintain a positive credit rating and stay in the good books of lenders.
Frequently Asked Questions
Can I check my CRB status for free?
TransUnion offers a free credit report once a year. However, you must pay Ksh.650 for additional statements within the year.
What does it mean to be blocklisted by CRB?
Being blocked means you have a poor credit score, which can deter regulated lenders from providing you with loans.
How can I improve my credit score?
The best way to improve your credit score is by settling your loans on time. Avoid taking on more debt than you can handle, and strive to keep your existing lines of credit well-managed. In case of default, clear the pending debts as soon as possible and follow up with the lending institution to ensure they update this on your credit report.
How long does it take to clear a CRB listing?
After clearing your defaulted loan, the CRB may take up to 5 days to update your credit report. However, following up with your lender to confirm they have reported the clearance to the bureau is also essential.
Can I apply for a loan if I have been blocklisted?
Yes, but it can be more challenging to secure a loan if you've been blocklisted, as this is an indicator to lenders of high risk. Some lenders might offer loans to individuals with poor credit scores, but these often come with higher interest rates.
Knowing your CRB status and taking the necessary steps to maintain or improve your credit score can open up more opportunities for securing loans at competitive rates. Remember, financial discipline is critical to maintaining a good credit score.