How to Improve CRB Credit Rating for Kenyans

How to Improve CRB Credit Rating for Kenyans

To many Kenyans, CRB is not just a string of three letters. To some it spells doom and to others, it’s an abyss they wouldn’t want to get into. The abbreviations are mentioned on a daily basis especially where loans – in terms of money – are involved.

But what exactly is CRB? And what is CRB Rating?

CRB stands for Credit Reference Bureau. This is a company whose task is to collect information on loans issued to individuals by different lending institutions such as Saccos, micro-finances, and banks.

CRB Rating – This is an evaluation done by lending institutions on an individual to determine their ability to pay back a loan and chances of defaulting.

CRB Listing – This is a negative or positive record of your credit information as submitted to CRB’s by lending financial institutions.

If you have an existing loan or you are intending to borrow from a bank, microfinance, mobile lenders or even HELB, the following guide is for you. Here you will learn how to get your CRB Report, CRB Rating, and Clearance Certificate.

Why do people take loans?

  • To Pay Bills.
  • To supplement an income.
  • Meet emergency situations.
  • To grow or expand a business.
  • For leisure purposes e.g. vacation, parties, and occasions.

Why do you need a good Credit Rating (Score)?

  • Some employers use the information when considering to hire you.
  • Banks and other lenders use it before deciding on whether to issue you a loan.
  • A good credit rating is necessary when applying for a tender.

Accessing your CRB Credit Rating Report

The fastest and most easy way to access your Credit Report is through your mobile phone. By dialing a USSD code (*433# for Metropol), you can get all your credit information which includes a report, credit score, if you are blacklisted and which institution sent you to Credit Reference Bureau as a defaulter.

It is also easy to obtain the report by contacting or visiting offices for CRB Companies in Kenya which include;

  • Metropol Credit Reference Bureau Limited.
  • Creditinfo Credit Reference Bureau Limited.
  • TransUnion Africa Limited.

How to check your Credit Rating status on Metropol Limited

  1. Dial *433# from your Mobile.
  2. You will be asked to Pay Kshs 50 for registration.
  • Pay Bill Number: 220388
  • Account Number: Your ID Number).
  1. On Payment, you will receive an SMS with;
  • Unique pin Number.
  • Reference number.
  • A special link (URL).

To view your Status, Report and Listing Lender using a mobile phone, dial *433# and choose your preferred option

You can also view your and get a CRB clearance certificate online by visiting the Metropol Corporation website and entering your login details as indicated above.

How to clear your name from CRB and Get a Clearance Certificate

If you have already been blacklisted with CRB as a defaulter, it is possible to redeem your Credit Rating. This would require that you first identify which institution listed you and then settling all the outstanding loans.

  1. Check your credit report to identify which institution blacklisted you.
  2. Pay the debt and inform CRB.
  3. CRB will clear your Name and issue you a Clearance Certificate Upon Paying Kshs 2,200 (Processing fee).

If your credit rating is good, our advice is that you keep it that way by avoiding bad lenders, paying your loan on time, not overborrowing and keeping track of all your loans.

Also Read: 7 Useful Personal Finance Tips and Rules for Kenyans

Image by Clker-Free-Vector-Images from Pixabay

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