1. Creditbuilder is a 12 month loan that you repay over 12 monthly payments
2. We lend you the equivalent of 12 months in account fees (£71.40 with an Activeplus or £119.40 with a Deluxe account)
3. We hold these funds for you, so you won’t see them in your account and won't be able to spend them
4. You may pay your monthly account fee as normal and we take it as a payment against your Creditbuilder loan, which we report to the Credit Reference Agencies
5. Once you’ve made all 12 payments on time, you'll have successfully paid off your Creditbuilder loan, which could help improve your credit score

Creditbuilder works by committing you for 12 months, making your Cashplus Account fees a loan that you repay over a 12 month period. As long as you pay your monthly fees on time and manage any other credit you have in the same way, the credit reference agencies will see this as a sign you can handle credit responsibly, which could improve your credit score. 

Building a good credit history can take time, which is why Creditbuilder lasts for a full 12 months and also why you may have to wait three months to see an improvement in your score.

If you don’t have much credit history or your credit score could use a boost, Creditbuilder is a handy tool to get you moving in the right direction. This could be for lots of different reasons, whether you've recently moved to the UK and don't have much credit history or if you've struggled to get credit in the past.

Unique to Cashplus, it takes just a few minutes to set up and doesn’t cost anything extra – just the monthly fee you already pay for your Cashplus Account.

It's important to know the details of what you're getting into first though. Creditbuilder is a one-year contract that commits you to making 12 monthly payments in full and on time. Make all of these payments and you demonstrate to the credit reference agencies your ability to handle and repay credit responsibly, which could help improve your credit score and rating. But if you miss any payments, it could hurt your credit score.

Creditbuilder works by treating your Cashplus Account fees as a loan that you repay over a 12-month period. As with any loan repayment, if you're late making your payments or miss some altogether, it could hurt your credit score and thus lower it.

You should always make sure you can make all 12 of your monthly payments before you enter into a Creditbuilder agreement.

Even though Creditbuilder is a loan it's likely not the type you might be used to, as we don’t put money into your account but rather treat your existing account fees as a loan you're repaying. This could help improve your credit score over the course of the 12-month Creditbuilder contract.

To get Creditbuilder you need to have either an Activeplus or Deluxe Cashplus Account with an activated card and no recent missed payments. If that's the case, it's quick and easy to apply. Simply:

1. Go to Cashplus Online banking or the Cashplus Bank app and log in to your account
2. On the home screen, swipe right and you’ll see the Creditbuilder offer and select ‘sign up’. You’ll also see any offers as an alert on the home screen
3. Follow the instructions and agree to the Creditbuilder terms to activate it

And that's it - we'll send you an email with all the details of your Creditbuilder agreement plus information on how to make and track your monthly payments and see your credit score change. 

If you don't yet have a Cashplus Bank Account, you can apply for one online or in the Cashplus Bank app and add Creditbuilder along the way.

When you add Creditbuilder to your Cashplus Account, you're signing up to a 12-month commitment to pay your existing account fees on time and in full each month. By doing this, you're demonstrating to the credit reference agencies that you can responsibly handle and manage credit, which could improve your credit score.

If you don't think you can commit to making all 12 monthly payments in full and on time, Creditbuilder may not be for you.

Creditbuilder doesn't cost any more than your existing monthly Cashplus Account fee. There's no joining fee, no interest and no added or hidden costs. Just pay your monthly account fee in full and on time for one year, your Creditbuilder contract will end and your credit score could go up.

No. We don't charge any interest on your Creditbuilder loan.

Creditbuilder isn't an account but rather is an add-on to your existing Cashplus Account. We created Creditbuilder for one reason - to help you improve your credit score.
If you want to know more about Creditbuilder and how it works, take a look at our FAQ 'How do I know if Creditbuilder is right for me?'

You can add Creditbuilder to Activeplus and Deluxe Cashplus Accounts, but not to a Flexiplus Account. This is because a Flexiplus Account has no monthly fee, so can't be used to repay the Creditbuilder.

If you have a Flexiplus Account but want to add Creditbuilder, contact Customer Services on 0330 024 0924 and we'll help change your account plan.

Add Creditbuilder to your Cashplus Account and you're signing up to a 12-month commitment to pay your existing account fees on time and in full each month. By doing this, you're demonstrating to the credit reference agencies that you can responsibly handle and manage credit, which could improve your credit score.

If you don't think you can commit to making all 12 monthly payments in full and on time, Creditbuilder may not be for you.

We'll tell you! Once you've applied, we'll send you a welcome email confirming your Creditbuilder along with all the information you need to know about it, including payment dates and amounts.

No, you'll need to continue to pay your monthly account fees as normal over the full 12 month period, and these will be used to pay off the Creditbuilder loan.

If you want to know more about how it works, check our FAQ 'How does Creditbuilder work?'

Yes! Creditbuilder isn't an account but rather is an add-on to your existing Cashplus Account. We created Creditbuilder for one reason - to help your improve your credit score.

Yes! Check out the table below which shows you which Cashplus credit products you can have at the same time on your Cashplus Bank Account.

Personal Credit Add-ons

If you already have a Cashplus Account and have added Creditbuilder, your first payment will be on the same date as your current monthly account payments - so you'll see no change at all.

If you've just opened your Cashplus Account and added Creditbuilder, your payments will start one month after you activate your card.

Either way, we'll send you an email detailing your start date and all the other information you need to know and you can check your status any time in Online Banking or the Cashplus Bank app.

Building a good credit history takes time, which is why Creditbuilder lasts a full 12 months - long enough for it to have a real impact on your credit score.

Your Creditbuilder loan and monthly repayments can take at least 3 months to show properly with the credit reference agencies from when you start, which is why it takes a similar length of time to see any change in your score. It's also important to make all 12 payments in full and on time each month, as this will complete your Creditbuilder so we can report it as 'settled in full' to the credit reference agencies, which can help improve your score even more. 

Remember too that any other credit you may have (credit cards, loans etc) and how you manage it will also impact your score regardless of how you pay back your Creditbuilder.

If you're new to Cashplus and added Creditbuilder when you opened your account, your payments will start one month after you activate your card.

If you already have a Cashplus Account and have just added Creditbuilder, your payment date will stay the same as it is now and Creditbuilder will start with your next payment.

Either way, we'll send you an email explaining your start date along with everything else you need to know once you've added Creditbuilder. You can of course also track your payments in Online banking and the Cashplus Bank app.

We debit your Creditbuilder payments monthly direct from your Cashplus Bank Account, so it's important to make sure you have the funds in your account before the payment date.

There are a couple of ways you can pay in to your Cashplus Account:

• Deposit cash over the counter at any Post Office
• Transfer funds from another bank account – you’ll need your Cashplus Account Number and Sort Code which can be found on the front of your card, in Online banking or the Cashplus Bank app

While you can't have more than one Creditbuilder running at the same time, you can take another out once you've completed the first. Each Creditbuilder contract lasts for 12 months.

Yes. We have some useful features and tools available in the Cashplus Bank app. To track your Creditbuilder progress - everything from payment dates to balance and history - just log in and go to Add-ons, and then Creditbuilder.

Here you'll find lots of useful information to help track your progress including payment dates, available balance, payment history and more.

Even though Creditbuilder is a loan it's likely not the type you might be used to, as we don’t put money into your account - which is why you haven't received any.

Instead, joining Creditbuilder commits you to a year-long contract to pay your 12 monthly account fees in full and on time. Make all of these payments and you demonstrate to the credit reference agencies your ability to handle and repay credit responsibly, which could help improve your credit score and rating.

If you added Creditbuilder by mistake, either as an add-on or when you applied for a Cashplus Account, you have a 14-day cooling off period from the date the agreement was made, where you can cancel it. Just call our Customer Services Team on 0330 024 0924 and they'll take care of it for you.

If you added it and are outside of the 14-day period then you're now in a contract and are committed to it for 12 months when it will complete. Remember though, Creditbuilder doesn't cost you any more than having a Cashplus Account and could help improve your credit score and rating.

If you miss a monthly account payment, which is also your monthly Creditbuilder payment, then we'll be in touch to let you know you've missed a payment and need to add funds to your Cashplus Account to cover it.

Late or missing payments to your Creditbuilder can hurt your credit score, so it's important to pay them in full and on time.

You can keep track of your Creditbuilder balance including payment dates, balance and payment history via the Bank App or in Online Banking on the Cashplus website. Just log in and go to Add-ons and then Creditbuilder.

If you miss a Creditbuilder payment, you should add funds to your Cashplus Bank Account as soon as possible to cover the missed amount. Once you've added these funds, let us know by calling Customer Services on 0330 024 0924 or emailing [email protected] and we'll take the missed payment straight away.

If you do this soon after your missed payment date we may be able to make your payment before it's reported to the credit reference agencies, which could save your credit score from being affected.

It's important to make all your Creditbuilder payments in full and on time, and you should only commit to Creditbuilder if you're confident you can.

There are a couple of ways you can pay in to your Cashplus Bank Account:

• Deposit cash over the counter at any Post Office
• Transfer funds from another bank account – you’ll need your Cashplus Account Number and Sort Code which can be found on the front of your card, in Online Banking or the Cashplus Bank app.

Yes. Just call our Customer Services on 0330 024 0924 and we can take an early repayment in full and close your Creditbuilder for you.

No, we're afraid not. When you add Creditbuilder to your Cashplus Account you're signing up to a 12 month commitment to pay your existing account fees on time and in full each month. By doing this, you're demonstrating to the credit reference agencies that you can responsibly handle and manage credit, which could improve your credit score.

If you don't think you can commit to making all 12 monthly payments in full and on time, Creditbuilder may not be for you.

No, you can't change your Cashplus Account while you have an active Creditbuilder. If you're very keen to change account, you'll need to close your Creditbuilder by paying it off in full.

You can always add Creditbuilder to your new account as long as it's not a Flexiplus Account. To find out which accounts Creditbuilder works with, take a look at our 'Can I add Creditbuilder to any Cashplus Account?' FAQ.

Once you complete your Creditbuilder we'll send you a final confirmation email letting you know it's done and that we've told the credit reference agencies.

You can continue to use your Cashplus Account as normal and won't see any change in your payment amount or date. You can always add another Creditbuilder should you want to.

Yes. Once you complete your Creditbuilder you can always add another to try and improve your credit score even more.

Nothing! Once you complete your Creditbuilder your Cashplus Account will continue as normal with the same monthly fee charged on the same date. If you decide later, you can always add another Creditbuilder when you're ready.

Your Cashplus Account has a fixed monthly fee that you've always paid as long as you've had the account. When your Creditbuilder was active your monthly fee was used to pay off your Creditbuilder loan.

Now your Creditbuilder is complete, you can always add another to try and improve your score further or continue to use your Cashplus Account as normal.

If you want to know more about how it works, check our FAQ 'How does Creditbuilder work?'