Boost your credit score while you save with Loqbox
Go on, give your credit score an easy boost.
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Loqbox is a quick and easy way to boost your credit score, just by saving*
A quick and easy way to boost your credit score is with Loqbox's three-part plan:
1. Sign up
Get started with Loqbox today. By saving as little as $20 per month, you can make your savings count! You decide how much to save with Loqbox each month for a year. Loqbox will finance the full amount with a 0% APR loan. (e.g. $20 x 12 months = $240). The maximum term for the loan is 12 months.***
2. Regular reporting
By making your monthly payments, you’ll give your credit score a boost* as we report the regular payments to Equifax, Experian and TransUnion. We’re here to help you improve your creditworthiness!
3. Unlock your savings
When your loan is repaid, it’s time to unlock your Loqbox. Withdraw your savings by opening a new bank account with a partner bank** (they pay us a commission, making it free for you). Or if you’d prefer to withdraw into an existing account, it’ll cost just $40 for your credit-building, savings and financial guidance journey. The choice is yours!
Reasons to boost your credit score quickly
So whether you’re looking to make a house-shaped purchase, want the keys to a shiny new car, or are saving your pennies to start a family — having a good history of credit counts!
If you have little or no credit history, and can see yourself needing a mortgage, credit card or loan in the future, take a step towards boosting your credit score now.
Not sure what your credit score is? Read on for how to find out.
How long does it usually take to improve your credit score?
It’s no secret that improving your credit history takes time (they don’t call it history for nothing).
You might find yourself asking “How can I increase my credit score in the fastest possible way?”
Although there isn’t an overnight fix, there are quick and simple ways to give your credit score a boost — and using Loqbox is one of them.
Making positive changes to your score will still require your patience. This is because you can expect the three US credit bureaus, Experian, Equifax and TransUnion, to take around 30 days to show changes to your reports — sometimes longer, if say, your phone bill provider is slow to update them.
You can get a free peek at your credit scores without harming them by using these companies:
- Credit Karma (uses TransUnion and Equifax data)
- Credit Sesame (uses TransUnion data)
- Credit.com (uses Experian data)
But while you wait diligently (and well done you for being so zen about it), you can feel good knowing you’ll have done all you can to have boosted your credit score. Good things come to those who wait.
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How can you boost your credit score instantly?
While there’s no way to boost your credit score overnight (you’ll still need to exercise patience over a couple of weeks, maybe months) these tips will get you on the right road to boosting your credit score as fast as possible.
How to increase your credit score quickly:
✔ Amend any errors
✔ Remove any previous financial connections
✔ Get started with Loqbox*
✔ Keep your debts low, but the amount of credit you could borrow high
Things that take a little longer (but still help to boost your credit score):
✔ Always pay on time
✔ Pay more than your credit card's minimum payment
✔ Is your name on the bills?
✔ Spread out your credit applications
It’s good to know that it’s completely normal to see your score rise and fall. And each time you ask for a new line of credit (i.e. get a new credit card or take out a loan) you’ll likely see a dip in your score until the lender starts to see you regularly paying them back.
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