Some people would be scared. They will take the money and calculate how they are going to spend it without finding a legit way of paying back. There are so many people who have downloaded so many loan app and borrowed a lot of money and these people are currently on the run. A lot of Africans do not think of the financial consequences of borrowing money without having a proper way of paying back. If the Nigerian system had that credit score. It would really help these loan apps to function better. It is true that their interest rates are very high, a lot of people still do not consider this because they know that they do not plan to pay back.
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Giving them permission to access my phone details is what scares me most. What if they are hacked or sell my details or worst, what if there is trojan virus on their server.