Can NYSC Members Have a Credit Score in Nigeria?

You might be an NYSC serving member wondering whether you already have or can build a credit score in Nigeria. Yes, NYSC corps members can have a credit score in Nigeria.

What is a Credit Score?
A credit score is a three-digit number that shows your creditworthiness, how you pay loans or credit on time.

Does a NYSC Member Have a Credit Score Automatically?
No, not necessarily. Being in the NYSC does not necessarily mean you have a credit score. A credit score shows how you borrow and repay loans. If you have never borrowed a loan, used a credit facility, or paid bills reported to a credit reporting agency, you may not have a score yet.
However, you can start building a credit score while in service.

How NYSC Members Can Build a Credit Score
Here are real-life methods corps members can adopt to build a credit score.

Take a Small Loan from an Approved Lender
Most NYSC members take short-term loans from loan apps or online banks. If you repay the loan on time, this behavior will be reported to credit bureaus and can help build your score.

Use Buy-Now-Pay-Later (BNPL) Services BNPL responsibly helps you establish a credit history, as some providers report your repayment activity to credit bureaus. These services work similarly to small loans or savings-linked credit: you buy an item now and repay the amount gradually, often weekly or monthly. This can positively impact your credit score over time. One BNPL we recommend is Oja by tendar

Do Not Default on Any Loan Even informal short-term loans from online loan providers can ruin your credit report. Most members of NYSC fall into trouble with instant loans from mobile apps that report defaults to credit bureaus. Only borrow what you can repay.

Why Should NYSC Members Be Concerned About Their Credit Score?
A credit score affects your ability to:

• Obtain bigger loans or business capital upon completion of the NYSC
• Get approved for rent-to-own or installment payment terms
• Get approved for a future credit card or auto loan
• Establish a financial history at an early age

A good credit score gives you the edge in Nigeria's emerging digital financial ecosystem.

How to Check Your Credit Score
You may check your credit score for a low fee from Scorewise. Simply download Scorewise on the App Store or the Play Store.