Why has my credit score not changed yet?

  • Updated

Building your credit history takes a little patience, but the results are totally worth it.  As long as you can see your Loqbox Save loan and repayments on your credit report, it’s building your history for you and those seeds will sprout and shine on your credit score soon enough!


The process of getting your loan data to the credit reference agencies (CRAs) –  Experian, Equifax, and TransUnion  is that we gather all the data at the end of each month for the previous month's activities. So, if you made a payment in January, that data would appear on your credit report by the end of February.


Once the credit reference agencies  get this data, they take about 20 days to check, process and update your credit records. 


When you check your credit report, you are looking at a snapshot taken once a month. So, if you're not seeing your latest info, don't worry. Check out the ‘report date’ to see when your credit report was last updated.


If you have any further concerns or questions, please feel free to reach out. We're here to assist you on your journey to a happier, healthier relationship with money.