Unsure about what’s included in your membership? This guide will help you understand what you've got, how to use it fully, and what extra features are available, if you want more.
Quick summary
- Loqbox membership helps you build your credit history intensively.
- It costs £2.99 a week, and gives full access to all credit-building features.
- The features, what they do, and how much they cost, are covered under Using your features.
Can you change your membership?
You can upgrade, downgrade, or alter the features within your membership at any time. Log in to manage your membership.
When you downgrade…
- You'll get to keep all your features until the end of the week you've been charged for
- You will still need to pay for any weeks you've had access to on 1st of the next month (clearing your balance)
- There are a couple of considerations, so take a look at how downgrading works before you go ahead
Using your features: Save, Grow, Rent and more
Your membership builds credit by reporting your repayments to the Credit Reference Agencies (CRAs), Experian, TransUnion and Equifax.
Your membership gives you access to a line of credit, called Grow, that you can only spend at Loqbox.
You borrow money to use our tools, and pay it back to build your credit history.
As an example, your repayments might look like this:
- Weekly £2.99 membership payments
- Monthly £30 Save payment
- Loqbox scans your transactions to log a monthly £400 payment to your landlord
- Monthly Silver Bolt-on for £10 per month
We report every activity to the CRAs, who build your credit file.
In our example, there are plenty of positive signals to report. But, even if you only use the Save feature, it will still make one reliable and regular payment that builds your credit history.
Use Save to build credit
Save shows that you can stick to a simple monthly plan. We ensure that it gets noticed by the UK’s three Credit Reference Agencies (CRAs).
It’s free to unlock your savings to your preferred bank account after you’ve made 26 consecutive membership repayments.
If you downgrade, you can unlock for free if you open a partner bank account, or pay a £30 one-off fee to unlock your savings to your bank account.
It’s not about how much you save, but how consistently.
Save is powerful on its own, but even more so when paired with tools like Grow or Rent. Each one adds a different kind of signal to your credit file.
Using them together can give lenders a fuller picture of your reliability.
Use Grow to build credit
Grow is a small, managed line of credit you can only use with Loqbox. It shows you can make steady repayments each week.
- We’ll charge your £2.99 membership fee, plus optional extras like Bolt-ons, to your Grow account
- Then, you’re billed once a month on the 1st of the month
- It shows you use credit responsibly, and we tell the CRAs
Use Rent to build credit
Rent turns your rent payments into proof that you can handle regular bills. We share that history with Experian, so it can count towards your credit history.
Our partner Moneyhub scans your bank account for your rent payment, and we’ll report to Experian monthly
Use Bolt-ons to build credit
A Bolt-on is a credit-building and money wellness package. They’re an optional extra you pay for once a month.
They increase your Grow credit limit, increase your Save limits, and give you either free, or discounted access to our money wellness app, Nooli.
There are three Bolt-ons to choose from:
- Bronze: £5 a month for £500
- Silver: £10 a month for £1,000 limit
- Gold: £20 a month for £2,000 limit
Coach, Learn and Nooli
We don’t want you to go on this credit-building journey alone.
Loqbox membership automatically gives you access to support that helps you have a healthier relationship with money.
Loqbox membership automatically gives you access to support that helps you have a healthier relationship with money.
Coach is a personalised financial plan. Learn is a series of money tips emails.
If you have a Gold or Silver Bolt-on, you also have our financial wellbeing app, Nooli, for free.
It helps you build healthy money habits, stay motivated, and track your progress with personalised guidance.
Can you switch features off?
It’s absolutely okay to switch off features if you need to.
There are a few things to keep in mind:
- When you downgrade, we’ll collect any outstanding Grow balance in the next billing cycle.
- Normally, you can unlock your Save balance to any account for free after you’ve made 26 consecutive membership payments. If you downgrade your membership, you can either withdraw to one of our partner banks for free, or pay a one-off £30 charge.
It is possible to switch off all features and still be a member. In that situation, you’ll pay £2.99 per week, but we won’t send any positive credit-building signals to the CRAs until you switch features back on.
Is your membership working?
The best way to check if your membership is helping to build your credit is to look at your credit history.
You can check it for free using any of the three main CRAs, Experian, Equifax or TransUnion, or through banks or apps that use their data, like ClearScore, Credit Karma, or MoneySuperMarket’s Credit Monitor.
Most of them update your credit history monthly, so checking once a month is enough to track your progress.
Look out for changes like:
- A higher score
- More accounts listed
- On-time payments are showing up
Progress can feel slow sometimes, but steady habits do pay off. Stick with it!
Are you getting all that you can from your membership?
Loqbox membership can help build your credit. With a greater number of features switched on, and a slightly bigger credit-building budget, you’re more likely to see rapid results.
Here’s how to think about it:
- Want to build credit gradually? Use one or two credit-building tools, like Grow and Save.
- Ready to see faster progress? You could switch on Grow, Save, Rent and buy a Bolt-on package.
Whatever your plan, the key to getting value is consistency. Saving every month. Using the features. Making payments on time. These habits are what build your credit history over time.
And if you're not sure yet what to expect, know this: We’re confident in our tools. That’s why membership comes with the Points Promise. If your score doesn’t go up by 25 points in 12 months, we’ll give you £25.
💬 FAQs
Can I switch plans?
Yes. You can upgrade or downgrade at any time from your account.
How do I know which plan I’m on?
Log in to your account and your plan will be shown on your homepage.
Is Save free?
There might be a charge depending on how you unlock your savings.
It’s free to unlock your savings after 26 membership payments.
If you downgrade, you can unlock your savings to one of our partner banks for free, or to unlock to an existing account, there is a £30 fee.
Do I need to open a new bank account?
No, your membership doesn’t require you to open a new bank account.
You have the option to open an account with one of our partner banks when you unlock your Save.
What’s the difference between Grow and Save?
Grow:
- It’s a line of credit that we use to pay for your £2.99 weekly membership fee, and things like Bolt-ons
- You ‘pay off’ your Grow balance once a month, like a credit card
- We report your monthly payment to the CRA, building your credit
Save:
- Allows you to save money every month and build your credit history
- Every Save payment you make is reported to the CRAs
- It builds credit because it’s financed by a 0% APR loan
Improvements to your credit score are not guaranteed.
Missing payments to Loqbox or other credit accounts may harm your score.
Is Loqbox membership worth it?
If you're looking to build credit, improve financial habits, or take control of your money, it might be worth it for you.
To get extra confidence, think carefully about:
- What you want to achieve
- How quickly you want to get there
- The budget you have to switch features on and keep them on
That’s the beginning of a credit-building plan. Having those goals in view will help you get a sense of whether what you’re spending matches up to the results you’re seeing.
On average, our members see a boost of 200 points. If you don’t see a 25-point increase in 12 months, we’ll give you £25. That’s our Points Promise.
Your credit history is personal. Everyone starts from a different place, and no company can promise a specific increase. What matters is progress, and that’s what Loqbox is here to support.
Need membership support?
If you have more questions about your membership or you can’t find what you’re looking for, we’re here to help.
Contact our member support team and we’ll help you find the answers you’re looking for.
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.