Read this section if you signed up for Pave Lite on or after the 24th of January 2022.
Pave Lite can build your TransUnion, Experian and Equifax credit score by improving your repayment history and credit utilisation. We open a credit line starting at £50 that can be used to pay your Pave subscription fees with, which can also build your credit score and improve your credit utilisation and repayment history - this is our Credit Builder service. Your credit utilisation is the amount of available credit you are using and is one of the largest factors impacting your credit score, together with repayment history.
How Pave Lite works:
Pave Plus also lets you track your TransUnion credit score in the app (subject to security checks), and receive Whatsapp and Email based support from Credit Experts. If you connect your bank, we can also send you alerts if you're at risk of missing a bill payment that could harm your credit score with our Bill Alerts feature. The bills that are most likely to impact your credit score are tracked and shown as "Priority Bills" in the app.
Finally, subject to eligibility checks, you may also qualify for our Bills Monitor service, which can be used to top up your bank account to pay pre-approved recurring bills.
You do not need to do any hard credit checks to use your Pave membership.
Please note that Pave memberships cannot guarantee to improve your score. Pave Lite is reported as account type 04 - Revolving account to TransUnion which is one of the major Credit Reference Agencies in the UK.
|Read this section if you signed up for Pave Lite before the 24th of January 2022.||
Pave Lite can build your Experian credit score by improving your repayment history.