Mobile credit is the most popular form of accessing short term loans for many Kenyans due to its ease of application and disbursement process compared to the mainstream loan avenues like banks or Saccos.
Consequently, this has led to the emergence of numerous mobile loan providers looking to make a quick ‘profit’ out of the desperation of numerous Kenyans looking for a quick solution out of an ‘emergency’ situation.
Such techniques used to milk out ridiculous profit margins include absurd interest rates coupled with insensible repayment periods which have ultimately landed the majority of the loan takers under the CRB axe due to default.
The aftermath of such sentencing under the CRB implies strict denial of access to any form of loans ( unless via Shylock ) until the initial default status has been regularized by the affected loan provider after full payment of the outstanding amount due as well as the penalty fees.
Although prior to being blacklisted under the CRB, most mobile credit providers initiate the effort of informing the soon-to-be defaulter in a bid to secure a last-minute repayment so as to evade the fore-coming scenario.
At times, this might not be the case and the CRB encounter may be as a result of identity theft through unauthorized loan application using another person’s details. So in order to avoid such inconveniences and maintain a clean credit record, one is advised to periodically check one’s CRB status.
In one of our previous articles, we highlighted the 3 licensed Credit Reference Bureaus where one can use to check whether they are blacklisted.
One company that offers such a service is Trans union via their Trans Union Nipashe android app. Below, are the steps needed to know whether you are in good standing with CRB or not.
1.Download the Trans union app via Google Playstore
2.Upon installation and opening of the app, you will be required to fill in your details which include: First and second name, ID card and phone number. Accept the terms and conditions and click on ‘NEXT’
3.The next screen will be the app’s homepage with your general credit rating summarized by either POOR or GOOD depending on your status.
4.Of you need to access the rest of the detailed information below that which include: ( loan accounts, credit report, clearance certificate and credit score)
You need to activate your account by paying 50/= to Paybill 212121 with your ID number as the account number.
5.Clicking on ‘ACTIVATE’ will simultaneously direct you to below page and also send an SMS containing the verification code to your phone. Input this code and click on ‘VERIFY’
6.This will in turn direct you the page below containing detailed info under the various tabs at the top.
-The first tab shows your credit score with the color spectrum signifying your status whether GOOD or POOR
-The 2nd tab shows the status’ of all the accounts where you currently/had taken a loan.
-The 3rd tab is the credit report tab whereby you are required to provide your email address to receive your very detailed report which shows who requested to view your credit rating, which credit institutions you took loans from and when, which credit institution sent you to CRB etc.
-The 4th tab is the clearance certificate tab whereby you are required to provide your email address where you can receive the certificate.
NOTE: The certificate is NOT FREE, you will need to make a payment of Ksh 2200 to Paybill 212121 as indicated below.