Loqbox Blog

If you’re getting ready to start university, then this blog is an essential read for you. Because learning to manage your finances now can make the next few years of university life much easier, happier and fun. That’s a hat trick of joy that can be achieved pretty simply with adequate planning and preparation.

Loqbox explains the three best times to make payments to your credit-building credit card

Occupation: Youth Worker Industry: Social Work Age: 36 Salary: £45k

Watch Loqbox's short video explaining what a credit-building credit card is

“I know that this is a topic that is almost over explored. It’s also a topic that we can find on the Loqbox blog. But I am still not sure how to maximise the benefits of having a credit card. I used a credit-builder credit card for almost 2 years, but my credit score did not improve significantly. Because of this, I’m worried I’m doing something wrong. Could you elaborate on the way customers should behave? I mean, we all know that paying in full every month means that we won’t be charged any interest, but when exactly should we clear our balance? Let’s say that the balance closes on the 6th of every month, should we clear it before the end of the month so 30th/31st or after the statement so 6th/7th? Is it better to clear 100% of balance or maybe 99%, as I saw somewhere?” – Loqbox customer

Watch Loqbox's short video explaining what a credit-building credit card is