Grow is a credit-building feature included with Loqbox membership. It gives eligible members a savings limit and an associated line of credit that can only be used with Loqbox.
It helps to build your credit history by reporting your repayments to the Credit Reference Agencies (CRAs).
It’s a simple way to show lenders you can manage credit responsibly.
Quick summary
- Grow is a credit-building feature in Loqbox membership. It provides a savings limit and an associated line of credit
- It’s a way to build your credit profile over time by creating a positive payment history and increasing your available credit
- You repay your Grow balance once a month, and we report the payments to the Credit Reference Agencies (CRAs)
What is Loqbox Grow?
Grow is a credit-building feature included with Loqbox membership. It has a savings limit and an associated line of credit that can only be used with Loqbox. It’s our most powerful credit-building tool.
You make repayments to Grow each month, and those repayments are reported to the CRAs.
There’s no credit check, no application, and no interest. It’s a way to build your credit profile over time.
📌 Note: If you've been with us for a while, you might have a different Grow setup. Changing your membership tier could affect your savings limit and associated line of credit. We’ll always show your current limit in your account.
How does it work?
Grow quietly builds your credit score while you go about your life:
- It gives you a line of credit to spend with Loqbox.
- Your weekly Loqbox payments (like your membership fee), or monthly payments, are charged to it.
- At the end of the month, we settle the balance from your payment method.
- We report the payments you made through Grow to Experian, Equifax and TransUnion.
You don’t need to do anything. It’s automatic, interest-free and designed to set you up for success.
Can I use my Loqbox Grow line of credit for purchases or transfers?
No, it cannot be used outside of Loqbox. It is a credit-building tool only.
What is the line of credit used for?
Your line of credit is used for your Loqbox membership payments and credit-building extras, like save vouchers. These payments are reported to credit agencies to help build your credit score over time.
Why can't I spend it?
Loqbox Grow is not a spending product. It is structured to support responsible credit-building activity, rather than everyday spending or money transfers.
How does Grow help build your credit score?
Grow helps you build credit in two ways:
✅ It creates a positive payment history
✅ It increases your available credit, but only uses a small amount
It helps to create a low credit utilisation rate, a positive signal that shows lenders you can manage credit.
Keeping it low shows you’re in control of your finances, which can help strengthen your credit history.
📈 On average, members using Grow have seen score increases of up to 125 points in just six months.
⚠️ Credit score improvements aren’t guaranteed and depend on your wider credit profile, and missing payments will negatively impact your credit score.
What will appear on your credit file?
We report to all three CRAs, Experian, Equifax and TransUnion, each month.
Here’s what they’ll see:
- When you opened your Grow account
- Your line of credit and monthly balance
- Whether you’ve made your payments on time
🕐 It may take up to three months for your Grow account to show on your credit file. Don’t worry, that’s totally normal.
We report all data at the end of each month for activity in the previous month. As an example, a payment taken in January, would be reported at the end of February.
How does your membership affect Grow?
💡Each membership tier has a package of benefits designed to improve your credit history and build your financial wellbeing, too.
- Standard: Eligible for up to £250 savings limit and an associated line of credit.
- Silver: Eligible for up to £1,000 savings limit and an associated line of credit.
- Gold: Eligible for up to £2,000 savings limit and an associated line of credit.
Silver and Gold members also have access to Nooli, our financial wellbeing app, at no extra cost.
You can upgrade your membership at any time from your account settings. It will take effect from your next billing date.
Are there any fees or interest?
No. You just pay for the cost of membership, which starts from £2.99 per week, plus the cost of any optional extras, like Save vouchers.
When will you see results?
Most members see their Grow account on their credit file within three months.
Your credit history may take longer to improve; it just depends on your wider credit habits.
We report to the CRAs monthly, so any improvements happen steadily.
💡 You can check your score for free using tools like ClearScore or Credit Karma. ClearScore will show your credit score with Equifax, and Credit Karma will show your score with TransUnion.
FAQs
Can Grow have a negative impact?
Only if payments are missed.
Grow is designed to support your credit profile, and most members see positive change. If you need to update your details so you don’t miss a payment, visit our managing Grow guide.
Is Grow classed as debt?
Yes, it’s a credit account. You settle the balance in full every month.
Can I cancel Grow?
Yes. To cancel Grow:
Select ‘Grow’
Select ‘Settings’
Select ‘Close Loqbox Grow’
If you’re using Grow to pay for other features, those payments will be taken from your debit card once Grow is closed.
Need help?
We’re here for you if you need more support with Grow.
You can contact our Member Support team six days a week, and we’ll do everything we can to help you stay on track towards a richer life.
Submit a support request here and send us the details of your enquiry. We'll review your request and respond via email as soon as possible.