CreditUp Loan App Review: Personal Line of Credit in Nigeria

CreditUp loan app is a personal loan service in Nigeria that offers micro and medium short-term personal loans of up to ₦500,000 unsecured.

An unsecured loan is a type of loan that does not require collateral or downpayment to obtain. It is usually short-term with very high interest rates.

Please do not take a CreditUp loan to fund your lifestyle or service long-term debts. Short-term loans are helpful in emergencies but can quite expensive when compared to long-term loans and should be used with care.

The app has so far gained over 100k downloads on Google play store with mixed reviews. It uses a loan software to collect prospective customers information including phone records, banking transaction alerts, BVN to build the credit score of each borrower.

To qualify for higher amounts, be sure to keep good bank transaction messages on your phone and do not have outstanding debts with other loan apps!

Application is simple, just download the app from Google play store, provide some information about yourself, the algorithm will analyze your information, calculate your credit score and make you a loan offer all Within a few hours.

How to Download APK and get a loan from CreditUp loan app

  • Download the CreditUp personal Loan App exclusively available on the Google Playstore and install on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
  • Fill in your basic Kwow-your-customer KYC information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

Is CreditUp loan app legit or scam?

CreditUp loan app is a legit loan app that gives micro loans to a maximum amount of N500,000 to customers, but has really high interest rates and bugs that prevents smooth registration. caution should be taken before taking any online loan. Always read other customer’s reviews before you apply for a loan in Nigeria.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Also its availability on Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your own security while using loan apps in Nigeria.


  • Offers loan amount of upto N500k.
  • It’s legit, has been confirmed by admin that they actually do give loans.
  • Completely online with no collateral required.


  • This app uses unprofessional tactics to recover loans, including messaging contacts on your phone if you default.
  • Takes time to disburse loans after approval, some customers take days even weeks before seeing alert.
  • Short loan duration especially for new users, starts at just 7 days.
  • Very high interest rates on small loan amounts.
  • Has bugs and networking issues that prevents smooth registration.
  • High rejection rate.

When taking loan, be mindful of the repayment plan. If you take a 60 days loan with two repayment installments, the app might attempt to auto debit you on the due date of the first installment and even charge overdue charges before the end of your 60 days tenure.

You can change your ATM card password to prevent auto debit. This app has been reported to deliberately auto debit their customers even after they have made payments via bank transfer.

Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.

If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.

What other borrowers are saying about CreditUP loan app

Praise Oses wrote, “This is quite frustrating. After repayment, I find it time wasting trying to apply again as the buttons in the app are all frozen. Nothing responds. I have uninstalled the app and back again, still the same result. This has nothing to do with an update here as in Google Play store, there’s nothing like that. Na so we go dey dey?? Several of them are like this, after luring you to repay before due date, they will all of a sudden decline your next request… Na wah oo!!”

Olawale Idris wrote, “No reminder, no call, no message no warning just start sending my contacts messages. Why do you guys do this. Why do you think sending contacts messages will solve any problem. This is very very terrible. After you will expect to receive payment. Its not fair.”

Adepoju Matthew wrote, “This is a helpful platform for online loan, they sincerely helped me in time of need, thanks. I recommend this app, the app is very good, the disbursement was also excellent the system says 5 hr but it was just 2 mins. Super Excellent!!!”

Olamide Ifemi wrote, “Very good and fast app but the problem is that I can not bind my atm card for me to get the loan and I’ve tried calling the customer service number but they are rejecting my calls and I even sent a email message but there’s no reply. Please kindly find a solution to it. Read all customer reviews here.

interest rate?

Services offered to users by Creditup:
Loan term: We will ask you to repay the loan within 91 to 365 days.
Loan amount: NGN 1,000 – NGN 100,000
Interest rates: Up to 2.5% per month and up to 30% per annum only.

Loan amount: N10,000
Loan period: 91 days
Loan interest = 10,000 x 2.5% x 3 = 750
Repayment amount = 10,000 + 10,000 x 2.5% x 3 = 10,750
Monthly repayment amount = (10,000 + 10,000 x 2.5% x 3)/3 = 3,583

This interest rate and tenure is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

What are the requirements?

  • Be a legal citizen or legal Resident of Nigeria
  • Be at least 18 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account
  • Provide details of two of your next of kins including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active bank account.
  • Your phone number must be the one connected to your BVN.
  • Have a valid government issued ID card.

What will happen if I don’t repay my loan or pay my loan late?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, you will be reported to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

CreditUp loan app customer service number

  • Phone: +234 814 978 6116
  • Working address : Lasu Main Rd, Ojo 102101, Lagos, Nigeria
  • E-mail : [email protected]


A writer! Columnist and an academic researcher
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