Join the money conversation to win £1,000 cash with Loqbox

Sign up for the chance to win £1,000 cash with Loqbox

Sign up for the easy way to improve your credit score by 13th October to be entered into the prize draw.

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Your Loqbox questions

New to Loqbox? If you have questions, you’re in the right place.

If you’re already a member, visit our help page to find the answers you need.
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Loqbox Save helps you grow your savings pot and your credit score, all in one go! By saving with us over a year, we can help you build your credit history with not just one, but three main credit reference agencies: Experian, Equifax, and TransUnion. These are the powerhouses that hold your credit reports and create those all-important credit scores.

Now, here's the magical part: Improving your credit score can save you £1,000s in interest rates down the road when you decide to take out a loan, credit card, or mortgage. How cool is that? Lenders will be more than delighted to trust you with their money and offer you better deals, making your financial dreams come true.

Let's dive into how Loqbox Save works:

‍Step 1: Save
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‍You're in control! You decide how much you can comfortably save over a year. We'll be like your trusty digital piggy bank and lock away a 0% APR loan for that exact amount in your Loqbox Save. For example, if you're aiming to save £1,200 in a year, we'll lock away a loan for that amount, and you'll repay it with 12 interest-free monthly payments of £100.

‍Step 2: Grow

‍This is where the real transformation happens! We'll be right there with you, reporting your monthly loan repayments to Experian, Equifax, and TransUnion. This reporting shows how responsible and reliable you are in borrowing and repaying credit, and it, in turn, boosts your credit score. A year of regular payments is the best recipe for growing your credit score.

‍Step 3: Unlock

‍Hooray, it's celebration time! After making those monthly payments for a year, your Loqbox Save loan is repaid in full (woohoo!). Now, you're ready to embrace the exciting world of improved credit score and all its wonderful possibilities. Access those loans, credit cards, and mortgages that you've had your eye on!

Finally, choose whether you want to unlock your savings into a new bank account with one of our awesome partners for free* or into an existing bank account for a small fee of £30**. We want you to have the flexibility you deserve!

*We get paid a commission by our partner banks for opening a new account for you, which is how we keep Loqbox Save free. **But if you’d prefer, you can opt for our Flexi Unlock premium add-on and withdraw into an existing account for £30, this covers your full credit-building journey.

Here's a top-tip from us: To make it easier to resist the temptation of dipping into your savings, we recommend paying your savings into a dedicated savings account, separate from your day-to-day funds.

‍Loqbox Save is all about empowering you to reach your financial goals, and we're here to make it happen. So let's embark on this incredible journey together!

Still got questions? You should find the answers in the relevant sections above.

Build my credit score

Still need answers?

Head over to our help page to find out more.

Join the money conversation to win £1,000 cash with Loqbox

Sign up for the chance to win £1,000 cash with Loqbox

Sign up for the easy way to improve your credit score by 13th October to be entered into the prize draw.

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