How do Pave memberships help build my credit score?

Pave helps to build your credit score using various tools which we've summarised here. Neither of our memberships require a hard credit check, and may help if you are new to credit or looking to build your credit.

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.

Credit score building also takes time, and you can learn more about what to expect here.

You can also contact us via the app, email: team@paveapp.com or via WhatsApp: +447476556252 to learn more. 

With our Plus membership

Pave Plus opens a revolving credit facility that can be used for your subscription fee payments with Pave - this is our Credit Builder service. This credit facility is reported as a revolving credit account to the three main Credit Reference Agencies in the UK: Experian, Equifax and TransUnion. Each time you make an on-time membership payment, you settle any outstanding balance on your credit facility. This is seen as responsible usage of a credit account, and allows us to share your positive credit utilisation with the credit bureaus. Credit utilisation makes up 30%* of your credit score, so this can have positive benefits on your credit health.

You can also track your TransUnion and Equifax scores (subject to security checks), together with personalised Credit Insights with actions that may help improve your score further if you are able to take them. If you have any questions about your credit health, our Credit Report Specialists are also available to answer your questions via Whatsapp or Email, 7 days a week. 

Pave also offers a feature called Bills Alerts. 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.

Finally, subject to eligibility checks which require you to connect your bank account, you may also be eligible for Bills Protection, which can be used to top up your bank account with a balance to pay towards pre-approved recurring expenses. Responsible usage of Bills Protection can also help improve your credit payment history and utilisation.  You can learn more about Bills Protection here.

You can learn more about the Pave Plus membership here.

With our Lite membership

Pave Lite works in a similar way to the Plus membership. The main difference is that the Pave Lite membership does not have access to personalised Credit Insights, and builds your score with TransUnion only.

You can learn more about the Pave Lite membership here.

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