What is Loqbox?
Loqbox is a credit building tool that can help you improve your credit score and build your savings in 12 payments.
When will my credit score go up?
This usually happens after about 4 monthly payments. And if you stay on track with your monthly LOQBOX payments for a whole year, you should see your score keep rising. Find out more about what impacts your score in this article. *Link Score FAQ
Remember though, that your credit score will always dip slightly whenever a new account shows up on your report. And there are other factors that affect your score, too.
How do I close my LOQBOX Save?
You can close your LOQBOX Save at any time.
'Unlocking’ or closing early stops monthly LOQBOX Save payments. These payments are reported to the credit reference agencies and positively impact your credit score. Stopping this process means that the initial drop in your credit score may not be recovered.
1. On your LOQBOX account
2. Click on Save at the top of the screen.
3. Click on Settings.
4. Click on ‘Unlock your LOQBOX Save’.
If you haven’t made any payments, your LOQBOX Save will be closed and no further action is required.
To redeem your savings, you’ll be asked to either open a new bank account or use an existing bank account.
Contacting Loqbox
ClearScore partner with Loqbox so please contact us using our messenger in the corner of this page and we'll help with any other questions.