Why has my credit score gone down after setting up LOQBOX Save?

When your LOQBOX Save loan first appears on your credit report it's normal to see a bit of a dip in your credit score

This happens because the credit reference agencies (CRAs) don't yet know if you will make your monthly payments.

As we collect your monthly payments, we report them to the CRAs. This positively impacts your payment history and your credit score.

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