"Pockit LOQBOX definitely helped start of my credit report as I had no history due to my age."
"I loved my Pockit LOQBOX. I used it for a dual purpose, firstly to build up my credit rating and then to save for Christmas."
"Pockit LOQBOX improved my credit score and made me realise how important credit really is."
A higher credit score means better deals on a new mobile phone, furniture or when you borrow money.
Save for 12 months and at the end you’ll have a pot of money for a rainy day, Christmas gifts or a holiday.
A good credit history helps you get access to loans and other credit products. You can build your credit history in a few clicks with Pockit and our partner LOQBOX.
Think of it as adding some spare cash to a piggy bank every month. Your money is “locked” until you decide to “unlock” your LOQBOX and spend your cash.
Open one in seconds from your Pockit account for FREE!
Choose what you are saving for: think of Christmas, holiday or a new phone. You decide how much you want to contribute each month for a year — any amount from £20 to £200.
In the background we lock away a 0% APR loan for that amount in your Pockit LOQBOX. Don't worry you won't pay any interest. This is done to show Credit Reference Agencies you can handle credit.
Make sure you have the amount you want to save each month in your Pockit account. We automatically collect the amount on the day of your choice. Showing that you can make regular, consistent payments, improves both your creditworthiness and credit score.
Your monthly repayments are reported to the three main Credit Reference Agencies as you pay off the 0% APR loan over 12 months. Pockit does not hold onto your money, it is held by LOQBOX. LOQBOX are not covered by the FSCS.
There is a small charge of £0.99/month to transfer money to your Pockit LOQBOX.
You'll get all your monthly payments paid back straight into your Pockit account. Pretty neat!
You can also unlock your Pockit LOQBOX earlier, if you want. When you ‘unlock’ your Pockit LOQBOX, you get back the entire amount you’ve paid in so far. Best to wait for at least 4 months as unlocking too early could harm your credit history.
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Build your credit score with Pockit LOQBOX
If you can’t make a month’s payment for any reason, you have two options:
Pockit LOQBOX is free to add to your Pockit account. Each month on the day you selected, we will collect the amount you decided to save, plus £0.99 to cover the cost of putting the money into your Pockit LOQBOX.
No. We have to take your payment on the same day each month. This date is set when you activate your Pockit LOQBOX.
Nope. We have to take your payment on the same day of each month. You choose this date when you activate Pockit LOQBOX and your fixed monthly repayments are what help you build your credit history.
Yes, you can unlock your Pockit LOQBOX earlier, if you want. When you ‘unlock’ your Pockit LOQBOX, you get back the entire amount you’ve paid in so far. Best to wait for at least 4 months as unlocking too early could harm your credit history.