Have you ever wondered why some people get loans with lower interest rates while others don’t? Let’s rewind to something most Nigerians ignore - your credit score. In this first part of our Smart Borrower Series, we break down how you can improve your score and unlock access to low-interest loans from instant loan apps in Nigeria like QuickCheck.

Why Your Credit Score Matters

Your credit score is like your financial reputation. It's what lenders look at when deciding whether to offer you a loan and at what rate.

Imagine two friends, Chika and Bola. Both apply for an urgent loan. Chika pays her bills on time, keeps her debts low, and uses QuickCheck to manage small online loans. Bola delays payments and has a spotty loan history. Guess who gets the better rate? You already know.

How to Improve Your Score:

• Pay your bills and existing loans on time. Lenders love consistency.

• Borrow smart, build your credit. Taking loans from too many apps at once can raise red flags with credit checks. Keep it simple, stay in control.

• Stick with trusted apps like QuickCheck that report repayment history positively.

• Don’t borrow more than you need. Small, manageable loans are easier to pay back.

• Build trust by repaying your loans quickly.

Improving your score is your golden ticket to better rates. Want to know more about how QuickCheck supports credit building? Read this guide on responsible borrowing.

Before you borrow, get clear on your costs. Read our blog post on the Interest Rate Calculator to learn how to estimate your loan expenses and borrow smarter.

Stay tuned for Part 2, where we compare low-interest loans to the rising trend of Buy-Now, Pay-Later services.

FAQ's

Which loan is easy to borrow?

Loans from platforms like QuickCheck are easy to borrow, especially if you meet basic requirements like BVN, a verifiable income source, and a working mobile phone. New users usually start with small amounts and get more access over time with responsible repayment.

Where can I borrow money ASAP in Nigeria?

Several loan apps in Nigeria, like QuickCheck, offer quick loans with minimal paperwork. Once approved, the money is often sent within minutes.

Which loan app gives ₦100,000 instantly in Nigeria?

Loan amounts depend on your credit score and past repayment history. If you’ve borrowed responsibly over time, QuickCheck can offer you up to ₦200,000.