If your credit, loan or finance application is rejected, lenders sometimes recommend Loqbox as a service to build your credit history.
Loqbox is a stepping stone, helping you get closer to approved finance and better product options in the future.
Quick summary
- If you applied for a loan, credit card, finance, or another form of borrowing, and the lender recommended you try out Loqbox, it’s likely because you weren’t eligible for the product you applied for.
- When you have a healthy credit profile, your access to loans, credit cards and other types of finance improves.
- Loqbox helps you to build your credit score and history, and strengthen your financial future, so when you apply for loans, credit cards, and finance again, you’ll have a better chance of securing the product you need.
What is Loqbox?
Loqbox is a credit-building company based in the UK. It’s also a lender, called DDC Financial Solutions, and trades as Loqbox Finance.
Loqbox lends you money you can only spend on Loqbox tools. The tools are designed to build your credit. When you make repayments, it builds your credit profile.
Although Loqbox is a lender, the money you borrow can only be spent at Loqbox. It’s not like taking out a credit card or having a loan. No money will be paid into your bank account.
The money you borrow from Loqbox pays for your weekly membership fees and credit-building tools.
You follow a schedule of repayments. The repayment routine shows lenders that you manage borrowing responsibly.
💡If you’re not sure how membership works, Your Loqbox membership guide will help you get all the details.
Why have I got Loqbox?
You might have signed up for our services when you applied for credit, finance, or a loan.
That lender might have recommended you try out Loqbox because you didn’t get the loan, credit or finance you applied for.
If you expected credit today, and maybe you thought Loqbox would lend you the money you originally applied for, this may feel like a setback. But think of Loqbox as a stepping stone, helping you get closer to that ‘yes’ in the future.
Many lenders suggest Loqbox as a positive next step. They want to help you move forward and get better borrowing options in the future.
💡ClearScore and Credit Karma UK are just a few of the organisations that recommend Loqbox when an application is unsuccessful.
Loqbox is a separate product from the finance, credit or loan you might have tried to purchase.
The service you signed up for is to build credit. If you don’t remember signing up to build your credit, and you’re worried, or need support, reach out to our member support team.
A quick look: How Loqbox can help you
- Use features like Save, Grow or Rent to strengthen your credit history
- Track your progress with Loqbox Score.
- Access tips through Coach to build financial habits that last.
- The result is a stronger credit profile could help you access the financial products you want and need in future.
What Loqbox is (and isn’t)
Loqbox is a credit-building membership designed to help you:
- Build your credit score with the UK’s three main credit reference agencies (Experian, Equifax, TransUnion).
- Grow your savings.
- Learn money skills that boost your financial confidence.
Loqbox is not a loan, a credit card or a quick fix. But it is a powerful set of tools that can help you achieve your financial goals.
Improvements to your credit score are not guaranteed. Missing payments to Loqbox or other accounts may harm your score.
If you’re struggling with debt or financial hardship, we can also connect you to free, impartial support. Contact member support, and we’ll guide you about what to try next.
What to do next in four steps
- Explore the membership you’ve got! If you’re unsure about how it all works, our support guides are here to guide you:
- Switch on the features that fit your goals and situation.
- Stay consistent. Building credit is about steady steps, not shortcuts.
- Reach out to our member support team anytime you need help.
If credit building’s not right for you right now, here’s support to downgrade or close your account.
Still unsure?
That’s okay! You didn’t expect to meet Loqbox today. Sometimes these things happen for a good reason, though.
We are ready to help you build your credit if you’re ready to start.
Want to ask a question we haven’t covered here?
If you're already a Loqbox member, log in and look for a purple help button to chat with our team.
If you’re not a member yet or you can't log in, submit a request here.