CreditWise Loan App Review: secure lending platform in Nigeria

CreditWise loan app is a Nigerian lending service that offers you a simple and convenient way to borrow money online without collateral or documentation. The smartphone app allows users to borrow up to ₦100,000 unsecured.

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

If you are concerned about loan apps that call their customers’ contacts to defame them, then this app might be for you. CreditWise is professional, has considerate staff that does not defame customers even when they default. You can always speak to customer service to ask for a time extension if you fear you might fall short on repaying your loan.

Do not borrow from an online loan app to fund your lifestyle. Short-term loans are helpful in emergencies but can quite expensive when compared to long-term loans and should be used with care.

CreditWise makes getting a personal loan simple by using the data on your phone, including your information, to verify your identity and create a credit score.

Getting a loan in Nigeria through banks and other official sources can be time consuming and require documentation like collateral, which most people don’t have. Which is why services like this can be very useful, especially during emergencies.

Although the app is still relatively new, customer’s reviews are encouraging. The app has so far gained over 1k downloads on the Google Play Store, with mixed reviews. It uses loan software to collect information about prospective customers, including phone records, banking transaction alerts, and 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!

Note that online loans like these are usually much more expensive with very high-interest rates because they are unsecured and require minimal documentation to get.

How to Download APK and get a loan from CreditWise app

  • Download the CreditWise personal Loan App exclusively available on the Google PlayStore and install it 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 know-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 getting 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.

Note that binding your ATM card with N30 does not guarantee that you will get a loan, you still have to pass the credit score check.

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 CreditWise loan app legit or scam?

Yes, CreditWise loan app is a legit loan app that gives micro loans to a maximum amount of N100,000 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.


  • Easy and smooth registration process.
  • Does not defame customers when they come short in repaying their loans unlike most loan apps operating in Nigeria.
  • Can be used by students in times of emergency
  • It’s legit, has been confirmed by admin that they actually do give loans.
  • Completely online with no collateral required.
  • High loan amount, up to 100k.


  • 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.
  • High rejection rate.
  • The app only works on Android smartphones.

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 CreditWise loan app

These reviews were written by users on the Google play store.

Akan Ikpe wrote, “Registration and disbursement was excellent. I only request for a reduction in the interest rate and increased duration up to 21 or 28 days. I recommend the app to anyone who is in need of help.”

Kevwe Daniel wrote, “Please the money you showed me on the app is different from the money you disbursed to my account why will i pay money i didn’t see were suppose to disbursed 19000 n some fraction to pay back 25k nw u credited my acct wit 11k that interest is too much do something about it okay.”

Herry Hills wrote, “This app is very useful and armful to someone bank account they remove #943 in my account after I blend my ATM card with 30 naira and the loan was not giving to me, am scared of my bank card now for Christ sake.” Read more borrowers’ reviews here.

Interest rate?

Loans service rate:6% to 24%, monthly interest 0.5%, the annual percentage rate (APR) on a CreditWise loan is 12%~30%.

-Example:If you choose a 3-month loan and borrow NGN20,000,NiceNaira charges an service rate of 6% and interest rate:0.5% per month, the APR is 12%. when 91 days due ,you need total amount repayments of NGN21,500.

Note that this interest rate and loan duration is just an example, expect your actual loan and duration to be much lower, but you can improve it by paying back your loan on time and keeping a good credit record.


  • 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.

CreditWise app customer service number

• Service Hotline: 2348034063318 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
• Service Email:
• Our Office Address: 23a Moleye Street, Alagomeji-Yaba 234-01, Lagos, Nigeria

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