How does Pave, formerly Portify, build my credit score?

Pave can build your credit score in three ways. None of these require a hard credit check, and can help if you are new to credit or looking to build your credit.

Free: After you connect a bank account, we scan your account for recurring subscriptions and bills. We then send smart alerts to encourage on-time payments of your recurring expenses.  Payment history is the number one influencing factor on your credit score accounting for 35%* of your total score so supporting you to pay your bills on-time in this way could protect your credit score and increase it.

Lite membership: Learn more about Pave Lite here.

Plus membership: Pave Plus is reported as a revolving credit account to the 3 main Credit Reference Agencies in the UK: Experian, Equifax and TransUnion. Responsible management of your Pave Plus account allows us to share positive credit behaviours to the CRAs every month. These positive behaviours from Pave can be used by the CRAs in the calculation of your score.

Subject to eligibility, we open a Pave Plus credit line and each month report your credit utilisation which is your 'credit balance' presented as a percentage of your 'credit limit'. Credit utilisation makes up 30%* of your credit score and low utilisation is seen as a positive credit behaviour which can have benefits for your credit health. We also report your repayment activity if you have used the credit line and on-time repayments contribute to the positive payment history on your credit report. The credit line is accessed via Bills Monitor. Learn more here.

We will share your repayment behaviour with Experian, TransUnion (e.g. your score shown on Intuit Credit Karma or Totally Money) and Equifax (ClearScore). Learn more here.

Please note that Pave cannot guarantee to build your credit score with our memberships. You can find more information on when Pave might not be the best fit for you here.

* These statistics are quoted from Experian and may be slightly different at other Credit Reference Agencies.