Understanding your Loqbox repayments: Change your card, missed repayments and what to do next

You might make several repayments to Loqbox each month, depending on which features you’re using. Here’s everything you need to know about your Loqbox repayments, in one place.

Quick summary

• Every successful repayment sends a positive signal to the Credit Reference Agencies (CRAs) and helps to build your credit profile
• You can update the card you use for repayments online. Log in, and go to your account to change your card details
• If a repayment fails, we’ll try again automatically

What does ‘repayment’ mean?

When we talk about ‘repayments’, we’re describing how you use Loqbox to build your credit profile:

• You sign up to use Loqbox’ credit-building tools
• You use credit to access them (from our sister company DDC Financial Solutions Limited, Loqbox Finance), and then you pay it back to us in full and on time

The repayments send positive signals to the Credit Reference Agencies (CRAs). It’s those positive signals that build your credit history.

What are you paying for?

You might be here because you’re trying to work out exactly what each repayment on your Loqbox bill is. Here’s a breakdown to help you make sense of it:

✅ What’s always on the bill

Your membership fee: £2.99 per week, billed monthly. It’s what you pay to access our credit-building features, like Grow, plus other features like Rent*

➕What’s sometimes on the bill

• Bolt-ons: Optional extras that cost £5, £10 or £20 per month, depending on which ones you’ve switched on.
• Save monthly repayment: A savings repayment you make each month for a year. The value of the repayment is set when you open Save.

When you downgrade, how much of Loqbox you can use changes 

Depending on the features you use, you would still sometimes see a:

• Save monthly payment: A savings repayment you make each month for a year. The value of the payment is set when you open Save
• Save unlock payment: If you downgrade, and you choose to unlock your savings to a bank account of your choice, you’ll pay a £30 fee

How do we take repayments?

Repayments are automatically taken from the payment method saved in your account. That could be a debit card, or Apple pay.

• Grow repayments: Always taken on 1st of the month
• Bolt-on repayments: If they’re billed to Grow, it’s taken on 1st of the month. But if you’re paying using a debit card, it’s monthly, on the same date you bought it
• Save repayments: Set by you and can be changed

How do I update my repayment card?

• Log in
• Go to Account
• Select Membership
• Scroll down to Payment Method
• Edit the card details
• Select Confirm to save the new details

Can you change your repayment date?

For Grow and Bolt-ons, not at the moment. We know life doesn’t always run on a consistent schedule, and we're exploring ways to offer more flexibility in the future.

If you're struggling to make your current repayment day work, contact member support.

For Save, you can edit the repayment date. To change it, follow these steps:

• Log in
• Select Save in the top left
• Select Settings
• Under Payment date, select Edit
• Pick a new date and select Update payment date

Missed a repayment? Here's what happens

For Save: Log in and try again 

If you miss a Save repayment, you can manually try again once you’re logged in to your account. 

For Grow and membership repayments: Don’t panic. We’ll try again

If a repayment fails for Grow and membership payments, we’ll automatically try again within a few days.

• You don’t need to do anything right away
• If we retry and it goes through, everything carries on as normal
• If it fails again, we’ll let you know what to do next

We might ask you to check or update your debit card details, or retry the repayment manually through your account. 

We’ll contact you using the email address you gave us when you signed up.

If you’re in financial difficulty and need guidance about your repayments and what to do next, please contact our member support team.

How to retry a repayment

If your repayment didn’t go through, you can:

1. Update your debit card in your account settings if it has expired or was replaced
2. For Save repayments, retry the repayment manually once your card is read
3. For Grow and membership repayments, wait for us to retry it automatically

If you’re unsure or nothing seems to be working, contact member support, and we’ll sort it out with you.

What happens if you stop repayments?

Missed repayments may affect your credit score, just like with any other credit product. 

If you miss repayments or you’re worried about missing repayments, we’ll help you get back on track. Let us know what’s happening and we’ll help you.

What matters is that you continue on your credit-building journey, if that’s what you want to do. 

If you miss repayments, it could hurt your credit history and score.

• You might lose access to your membership features, like Grow or Save
• If you’re using Save, we may unlock your savings early
• We might use the savings you’ve made to cover outstanding Grow balances

If you’re unsure or worried about your repayments, please contact us and we’ll help you.

FAQs

Loqbox is here to support your credit journey

Repayments don’t always go as expected, and that’s okay. We’re here to help you move forward with clarity and confidence.

If you're stuck, please reach out to our member support team:

If you're already a Loqbox member: Log in and look for a purple help button to chat with our team.

Not a member yet or can't log in? Submit a request here.

Whether you’re checking your plan, retrying a repayment or just making sure everything’s in order, you’re doing the right thing. And we’re right here with you.

You’ve got options. You’re in control.