How does Pave work?

Pave is a credit-building app that helps you build your credit score through the following features:

Monthly reporting

• Your monthly membership payments are reported to all three major credit reference agencies.
• Each on-time payment is recorded as positive repayment history.
• Maintaining consistent, on-time payments helps you demonstrate responsible credit behaviour and build a strong profile as a reliable borrower.

Credit score tracking

• View both your TransUnion and Equifax scores in the app
• Track your progress over time

Credit Insights

• Get a personalised action plan based on the latest updates from your TransUnion credit file
• Spot errors on your credit report and dispute them directly from the Pave app

Bills Alerts

• When you connect your bank account via Open Banking, we remind you when bills are due to help you avoid missed payments.
• Avoiding missed payments helps protect your credit score.

Bills Protection

• This feature is subject to eligibility.
• If you’re eligible and we see you might not have enough to cover a bill, we may offer a small top-up to help cover the shortfall
• You have 30 days to repay
• Eligible bills include: council tax, phone bills, utilities, and subscriptions that have been paid on time for the past 6 months

Why did I sign a credit agreement?

In order to offer Bills Protection and report your monthly membership payments, your membership is set up with a credit line.

The credit agreement sets out both your responsibilities and ours in relation to the use of your credit line, which is outlined below.

How does the credit line work?

You can only use this credit line in specific situations:

1. To cover your subscription fee

After the 14-day free trial, 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

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