If you are on the Credit Reference Bureau Kenya (CRB) blacklist, you need to be guided on how to get clearance from CRB Kenya. This is the only tool that you have at your disposal to improve your creditworthiness and increase your chance of being granted a loan by any lender. In this post, I will guide you on How To Clear With CRB in Kenya Online.
CRB collects data on loans issued by the lenders and creates credit reports of the borrower, which are based on the current and past loans. In Kenya, three CRB agents are licensed for operation, which is regulated by the Central Bank of Kenya: Trans Union, Metropol, and Creditnfo. A CRB clearance certificate from any of the agents affirms your creditworthiness to the potential lenders.
How to know your CRB status
It is easy to know your status on CRB just by looking at your credit history with lenders. As long as you have never defaulted on loan repayment with a bank, mobile money platform, Higher Education Loans Board (HELB), or employer, then your creditworthiness is good and you are not in CRB.
However, if you have breached the terms and conditions for loan repayment by missing out on 3 consecutive installments or more, then chances are that you are on the CRB list. If you are uncertain about your status, you can use any of the following options to check your listing status:
- Go to M-Pesa menu on your phone and send Kshs 50 via the Metropol Paybill number, which is 220338
- Enter your ID as the account number
- An SMS with a unique pin, reference number, and a special link that to be followed to access the Metropol service will be sent to your phone.
- Use the USSD code *433# to check your status. Enter your pin, and you will receive an SMS on the listing status after a few minutes.
- Alternatively, you can download the Metropol app from Playstore. Register, log in, make the payment, and request to view your listing status using the app.
- You can also visit the Metropol website, register, log in, make a payment, and proceed to check your status.
If you want to know your credit status, you will pay a fee of Kshs 100 and follow the procedure above. The lowest score is 200 while the highest score is 900. If your score is less than 400, you will not be able to access loans from lenders. On the other hand, lenders will give you loans with a lot of caution if your score is slightly above 400. For you to access easy loans, your score must be somewhere around 900.
You can also check your listing status via Transunion using this procedure.
- Begin by sending your full names via SMS to the number 21272
- You should enter your ID number
- Choose CC which stands for “Credit Status”
- You will receive an SMS with your status either “good” or “negative”. “Good” means that there is no lender that has reported you for defaulting on loan repayment. “Negative” means that you have defaulted on the repayment of current or past loans.
- Remember that you only have one free chance to confirm your credit status on the platform. After exhausting the first chance, you should pay Kshs 650 via the pay bill number 212121 to know your status. Enter your ID number in the account number section.
You can check your status online via the Creditinfo website using this procedure;
- Open the Creditinfo website, sign up, and request for credit report
- You will receive an email message showing your status.
- You will receive a free credit report for one year and free monitoring of financial services for the same period.
- After the expiry of this period, you will be required to pay Kshs 350 annually to get the credit report.
How to get the clearance certificate if you are not listed on CRB
After confirming your status, you can proceed to apply for the CRB certificate. All that you need to do is to register with either Creditinfo, Metropol, or Transunion.
- For the Transunion certificate, send Kshs 2200 via the pay bill number 212121 and enter your ID number in the account section. Forward the Mpesa message to the email firstname.lastname@example.org
- If you want to apply for the Metropol CRB clearance certificate, send Kshs 2200 via the pay bill number 220338 and request for the certificate online.
How to clear with CRB if you are a defaulter
You can only be cleared if you have cleared the outstanding debt with the lender. If you have defaulted on loan repayment, you should try to clear the loan. In the case of a banking institution, you can renegotiate the loan terms and come up with manageable installments if the loan cannot be cleared in one installment.
You might be forced to release the collateral to cover the loan so that you can improve your credit score. As soon as you have repaid the loan in full, you can only wait for a day or two for the credit score rating to be updated. Afterward, you can proceed to apply for the clearance certificate.
How long does CRB clearance take?
Once you have cleared with the lender, you need to wait for at least three days before beginning the process of the CRB certificate application. In some instances, you only need to wait for a day before you submit your application. This holds where the bank submits the credit reports to the bureau daily. So, how long does it take for one to be issued with the CRB certificate? The waiting time depends on the agent that you are working with either Metropol, Trans Union, or Creditinfo.
It is imperative to note that the CRB certificate is valid for 24 hours, that is the day of issuance. This is because the credit records of the borrower are updated daily. Therefore, you should only apply for credit reference bureau clearance when you need it. Certificates that have lasted for more than 24 hours are usually not accepted by lenders.
Consequences of being listed with CRB in Kenya
Most of the institutions and companies avoid hiring candidates listed by the CRB. If your name is listed by CRB Kenya, there is a very slim chance that you will be considered for a position, especially if the potential employer assesses the candidates based on their credit rating. For public service positions, the CRB certificate is a mandatory requirement for integrity clearance.
When applying for insurance, you will be charged a higher premium on personal health cover or car insurance than applicants with a good credit score rating. Financial institutions will be very cautious to grant you simple loans and asset financing if you are on the list. In such a case, the lender has every reason to believe that you will default on loan repayment.
REMEMBER – If you have been blacklisted, there is no need to panic. All that you need to do is pay your outstanding balance and follow the above step by step procedure on how to get clearance from CRB Kenya online. You will be issued with the CRB clearance certificate and your credit score will improve.