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.
Your Pave credit line
When you subscribe to Pave and sign the Credit Agreement, we open a revolving credit line for you.
- Your credit limit starts at £50
- It increases to £150 when you connect your bank account via Open Banking
- You can only use this credit line in specific situations (see below)
When can I use the credit line?
1. To cover your subscription fee
Your monthly subscription to Pave costs £9.
-
- Each month, on your subscription date, we’ll try to take the £9 payment using the payment method you set up
- If the payment fails, we’ll automatically use your credit line to cover the £9
- You’ll then have 30 days to repay the £9
⚠️ Important:
If you don’t repay within 30 days, we’ll report the payment as late to the credit bureaus. This could harm your credit score.
2. To help pay certain bills (Bills Protection)
When you connect your bank account, Pave will:
-
- Detect your upcoming bills (e.g. utilities, subscriptions)
- Send you reminders when they’re due
If we see you might not have enough money to cover a bill, we may offer to lend you money from your credit line. This is called Bills Protection.
-
- Not all bills are covered
- You’ll need to pass an eligibility check
- You’ll have 30 days to repay any amount borrowed
⚠️ Important:
Missing this repayment will also be reported as late, and could harm your score
How can Pave improve my credit score?
We report your Pave credit line and payment behaviour to all three major UK credit bureaus: Experian, Equifax, and TransUnion
These credit agencies use several factors to calculate your credit score. Pave helps with:
✅ 1. Making On-Time Payments
Each time you pay your subscription or Bills Protection loan on time, it’s reported as a positive repayment — this shows lenders you’re reliable.
🕓 2. Building Credit History
If you're new to credit or have little borrowing history (a “thin file”), Pave helps show that you can borrow responsibly.
📉 3. Managing Credit Utilisation
Credit utilisation is the percentage of your available credit you use.
Example: if you have a £50 credit limit with Pave and you borrow £9 that month to cover your subscription fee, your utilisation will be 18%
Lenders consider credit utilisation below 25% to be responsible use of credit, and it can improve your score.
💡 Other ways Pave helps you build credit
- Bill reminders to help you pay your bills on time - this protects your score
- Personalised tips based on your credit file, with actions you can take to improve
- Direct access to human support if you have any questions about your credit situation
- Track your score with Equifax and TransUnion to keep on top of your scores and track your progress
Please note that Pave cannot guarantee to increase your credit score because there are factors outside of Pave that can affect your progress. 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.
To learn more about credit scores and things you can do to improve, please visit our Credit Library or contact us via email: team@paveapp.com or on WhatsApp: +447476556252
Comments
0 comments
Article is closed for comments.