When you ‘unlock’ your LOQBOX early (before the 12 months time period), this won’t directly impact your credit score.
When your loan account (like every financial account) first appears on your credit report, it's normal to see a bit of a dip in your credit score.
This is because credit reference agencies don't yet know if you’ll make your monthly payments. As you make your monthly LOQBOX payments, they’ll report these payments to the credit reference agencies and it will positively impact your payment history and credit score.
However, ‘unlocking’ early stops this process and so the initial drop in your credit score may not be recovered. This is because you'd be 'unlocking' before making all of your repayments. For this reason, we’d recommend that you don't 'unlock' early, but we understand that sometimes this is unavoidable.