How does LOQBOX Save build my credit score?
To build your credit score, you must take credit and repay it.
LOQBOX Save is financed by a 0% APR loan. This loan, along with its monthly repayments (your LOQBOX Save payments), are reported each month to the credit reference agencies.
Once you have repaid all 12 months you have fully repaid the loan, and this is shown in your credit history.
Your credit score is calculated from your credit history. By proving you can manage credit successfully, you are deemed more creditworthy and so should have a higher score.