LOQBOX | Credit Builder customer reviews.
4.3 out of 5 stars
Highlights
- Good choice if you've been declined for credit and want to improve your credit
- LOQBOX can help you access cheaper credit in the future
- You can unlock your savings at anytime
- Help you build up savings for a rainy day
Minimum criteria
- You need to be able to save a minimum of £20 a month
- If you miss payments it could harm your credit
- LOQBOX is free when you open an account with their partners
Fees
- Maximum APR %
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £0
About LOQBOX | Credit Builder
LOQBOX is a free tool designed to help you improve your credit score. First, you decide how much you want to save in a year- between £20 and £200 per month. This amount is then locked away in your LOQBOX, effectively as a 0% loan. You then work your way towards your end savings goal by paying your chosen amount by a certain date each month, as if you would with a loan.
Every time you make a payment it is reported to credit reference agencies as a successful loan repayment and positively impacts your credit score. Once you've repaid the initial amount you decided on, all your repayments are released into a new bank account and you can use the money how you wish.
LOQBOX is a financial inclusion company, proving customers with a chance to prove their creditworthiness.
FCA registration
Reference No: 694919
Trading names: LOQBOX Savings Limited, LOQBOX
Place of business: Henleaze Business Centre, Henleaze, Bristol, England, BS9 4PN
Data protection registration
Registration No: ZA229901
Address: Henleaze Business Centre, Henleaze, Bristol, England, BS9 4PN
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