Once you've got Loqbox Save all set up, your first payment date is fixed to the credit agreement, and it can't be changed. Now, if you manage to make that first payment, you can adjust the recurring payment date for future payments — just log in and change it.
But we totally get it — life's unpredictable. So, here's what you can do if you'd prefer a different first payment date:
1. Within the first 14-day cancellation period:
If you're in this window, no sweat! You can opt to 'Unlock' your Loqbox Save, and any payments will be promptly refunded. Your Loqbox Save won't show up on credit reports. You can then start a new Loqbox Save with your preferred payment date.
2. Past the initial 14 days, and haven't made the first payment yet:
Go ahead and 'Unlock' your Loqbox Save. The credit agreement will be reported to credit agencies and will be marked as 'settled'. Then, you can open a fresh Loqbox Save with your chosen payment date.
Remember, the quickest path to boosting your credit score is completing the full 12 payments with the existing schedule. Do keep in mind that new credit agreements might cause a temporary dip in your score around the three-month mark. Don’t worry though – consistent payments rebuild it from there and it’s a normal part of the process.
Using Loqbox Save typically raises credit scores on average by 200 points in the first year.