Loqbox discussion thread

It’s an easy way to build your credit and, if you use one of the banks they use, it costs nothing

Your nit really wanting money it’s a easy and a good way to build credit the only down side is you ave to open a bank that’s how thy make money but they is no offer fees unless you don’t what to open a bank then you have to pay the £30 but i think it is worth it it douse helps dn they do report to the Credit regency agency.

You better get a sim only contract, credit builder card and put the money in your saving account. Pretending you’re paying a £30/month loan, it’s ridiculous.

And if you can’t get those or want to boast your history quicker?

The interest you’d get on that amount monthly is tiny so you’re not missing out

Well I was able to get a capital one after 1 year in UK, so everyone should be able to. My only credit history was my Lloyd account and energy supplier. It cost me £0. If you choose loqbox, your are using time/money and do you really think lenders don’t know you are using loqbox(£300ish loan 1 year) ? Honestly you can build your history without paying for it.

It costs nothing. You get it all back at the end unless you decide to get it paid to an existing bank account

People with a history of defaults etc find it hard to build credit again

It costs interest plus maybe £30. If you have defaults, you just need time, honestly I don’t think loqbox is helpful. Just pay your bills and you are building history(Internet, suppliers etc)

There are people who are unable to get any kind of credit for all kind of reasons. Lenders will obviously know they are using LOQBOX and it’s the point: for them it’s means person can afford to maintain monthly payments and takes some effort to have this good credit history.

Also I guess there are credit organizations include carriers that only care about your credit history on particular address and that service can help with that too.

1 Like

I am using this service as I what to re build and host credit company I can maintain a payment I do I have a mobile phone contract and broadband ect witch they do show on credit file but due to my ill health at time and being in hospital I have missed and default on credit yes I know default stay on file for a long time but I believe this serve Weill help and it’s a good way to save.

On,y down side I see is getting money out but it’s nit a big issue and I see why the do it as that’s how they make money and it is a free serve and way.