Lucy tells us how a few small habit changes made a huge difference to her life and built up her credit history.
Facing financial challenges head-on
After some early credit mistakes as a teenager, a career-ending back injury, an individual voluntary arrangement (IVA) and six children to support, Lucy faced a challenge with money.
As her IVA came to an end and she had a better handle on her debt, Lucy began thinking about the future and looking into what she could do about improving her credit score.
As her IVA came to an end and she had a better handle on her debt, Lucy began thinking about the future and looking into what she could do about improving her credit score.
Finding a way forward
It wasn’t an easy start to her journey, though. Lucy began applying for credit in the hopes of improving her score by being responsible with her repayments, but she struggled to get approved. She felt “stuck” and like there was “nothing she could do.”
“You’re wanting to do better, but if no one’s giving you a chance, you can’t progress, and you can’t build your credit score because no one’s trusting you because of what you’ve done in the past,” she explains.
“But Loqbox did trust me.”
“You’re wanting to do better, but if no one’s giving you a chance, you can’t progress, and you can’t build your credit score because no one’s trusting you because of what you’ve done in the past,” she explains.
“But Loqbox did trust me.”
Saving for the future while building credit
As a mother of six, saving for her family was one of the things at the top of Lucy’s priority list, “because there’s always something that comes up with children. New shoes, new bags, new coats, there’s always something.”
Here’s where the draw came for Loqbox. “I found it quite interesting that I could save money at the same time as improving my credit score, and it worked really well for me,” she says.[1]She keeps the savings in her Loqbox for the family’s future, rather than their everyday needs.
Here’s where the draw came for Loqbox. “I found it quite interesting that I could save money at the same time as improving my credit score, and it worked really well for me,” she says.[1]She keeps the savings in her Loqbox for the family’s future, rather than their everyday needs.
Growing confidence and pride with money
As for her credit, Lucy’s score has gone up, and she’s been offered credit cards as well.
Despite the thought of managing the repayments and interest on credit still feeling “scary”, she feels “a lot wiser now” than before.
“It was really daunting to me thinking about money,” Lucy says, but now that she has Loqbox, she feels “a lot more confident” with spending, managing her money, and learning more about it.
Lucy is now looking to the future. She’s helping her family learn the value of working hard to build better money habits, even if it’s saving little by little.
Now she’s ready to take on her next challenge:
“We want to start our own company. We want to do different things. We want to buy a house in the future, and none of these things would have been possible until I improved my credit score.”
Lucy is a Loqbox member. She kindly shared her story with us and received compensation for her time.
[1]Improvements to your credit score are not guaranteed. Missing payments to Loqbox or other credit accounts may harm your score.
Join LoqboxDespite the thought of managing the repayments and interest on credit still feeling “scary”, she feels “a lot wiser now” than before.
“It was really daunting to me thinking about money,” Lucy says, but now that she has Loqbox, she feels “a lot more confident” with spending, managing her money, and learning more about it.
Lucy is now looking to the future. She’s helping her family learn the value of working hard to build better money habits, even if it’s saving little by little.
Now she’s ready to take on her next challenge:
“We want to start our own company. We want to do different things. We want to buy a house in the future, and none of these things would have been possible until I improved my credit score.”
Lucy is a Loqbox member. She kindly shared her story with us and received compensation for her time.
[1]Improvements to your credit score are not guaranteed. Missing payments to Loqbox or other credit accounts may harm your score.
Improvements to your credit score are not guaranteed.
Missing payments to Loqbox or other credit accounts may harm your score.
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