What are the benefits of a bolt-on?

Erika
Erika
  • Updated

Let's dive into the fantastic world of bolt-ons and see how they can give your credit score a boost!

 

The Magic Behind Bolt-ons: They work their magic by cranking up your credit limit. This little trick plays a big role in improving your overall credit utilisation rate. In simpler terms, it's about how much of your available credit you're using compared to the total credit you have. Lenders are all about that low credit utilisation rate – it's like a golden ticket to a better credit score!

 

Bigger Benefits, Better Score: The lower your credit utilisation rate, the more potential for those credit score improvements. 

 

Easy Peasy: Setting up a bolt-on is a breeze. You can do it when you first join Loqbox or anytime you're ready to give your credit journey an extra boost. Just head to Loqbox Grow and choose 'bolt-ons'.

 

While bolt-ons have the power to increase your credit score, remember that improvements are not guaranteed. Your credit journey is unique, and bolt-ons are just one of the tools in your toolbox.

 

Ready to amp up your credit game? Dive into the world of bolt-ons and let's make financial dreams come true!