Build financial security with Loqbox

With Loqbox by your side, you can free yourself from financial stress and start your journey to a debt-free future.

Making progress on your goal might just be easier than you think: 80% of Loqbox members feel more knowledgeable, motivated, or confident about money.

It’s time to get on the right track with your borrowing. You can do this: the key is to approach it one step at a time.

How building your credit could help you clear your debt more quickly

Your credit history is a record of how you manage your money. Lenders check it when you apply for credit. A strong credit history increases your chances of accessing credit at affordable interest rates.

When it comes to debt, strengthening your credit profile can really pay off. Lower interest rates could make settling your debts more manageable. We’re not financial advisors here at Loqbox, but hey, paying less interest sounds like a win right?

Every point matters

_{*Based on the difference in interest rates achievable with “Very Poor” and “Poor” credit ratings** Based on the difference in interest rates achievable with “Very Poor” and “Fair” credit ratings}

3 top tips to help you pay off debt

1. Jot down a list of your debts

Get a clear picture of your borrowing. Seeing everything in one place can feel challenging, but give yourself kudos for facing it — you’re making progress.

Once you have a list of all your credit balances together, you’ll be ready to make a step-by-step plan to clear your debts.

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2. Review your budget and prioritise debt repayments

Grab your phone, open your banking apps, and play detective. Are there any small changes — like cancelling that streaming subscription you never remember to use — to free up extra funds for debt repayment?

Top tip: Prioritise your monthly minimum payments — missed payments can harm your credit score.

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3. Tackle high-interest debt first

Interest can feel like a major barrier when you’re paying off debt. But with the avalanche method, you could reduce your debts more quickly. By tackling high-interest debt first, you could make a real dent in your credit balances.

Think of each payment as a stepping stone to your goal. But, if you’re also trying to balance other priorities like your rent or bills, remember that there is help out there if you need it.