The Cashplus Bank Account with added Creditbuilder
One of the best things about a Cashplus Bank Account is its potential to improve your credit score without paying any extra. With our Creditbuilder add-on, you could give your credit score the boost it deserves.
Having a healthy credit rating is vital these days. It can help with everything from getting a mobile phone contract to having your mortgage application approved. In fact, Creditbuilder has already helped more than 200,000 people with all sort of credit issues.
Is Creditbuilder right for me?
If you’ve recently moved to the UK, don’t have much credit history or your credit score could use some help, Creditbuilder is a handy tool to get you moving in the right direction. You’ll be entering into a 12-month contract, so you should only sign up if you're sure you can commit to making all 12 payments on time.
How Creditbuilder works
1. Apply for the Cashplus Bank Account and either add Creditbuilder during your application or once your account is activated
2. Repay over 12 monthly payments. Creditbuilder is a 12-month loan equivalent to a year’s worth of account fees (£71.40 with the Activeplus account), that you repay over 12 monthly payments
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. 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. It could help improve your credit score and rating once you've made all 12 payments on time and you'll have successfully paid off your Creditbuilder loan
Ready to apply? You’ll need to open a Cashplus Bank Account and request Creditbuilder as an add-on during the application.
Amount lent: £71.40 for 12 months
Payments: 12 monthly payments of £5.95
Total amount payable: £71.40
Interest rate: 0%
Representative APR: 0% APR
See for yourself how Creditbuilder works
Different credit rating agencies use different score systems. To make the Creditbuilder results easy to understand, we've translated the actual scores out of a maximum score of 999 points. *
People who'd never had credit
That's an average credit score increase of 30% - and those extra points could make a big difference to your credit status. For example, an increase like this could be the difference between getting a great mobile phone on a contract or just a basic pay-as-you-go deal.
People who had a poor rating
That's an average credit score increase of 15% - which could be the difference between being approved or declined for a credit card.
People who already had a good rating
That's an average credit score increase of 10% - which could mean getting a better interest rate on your mortgage or bank loan.
*This credit score analysis was carried out with a leading UK Credit Reference Agency over a 12-month period for existing Creditbuilder customers. Results may vary for each individual. Other credit agreements may have also influenced customer credit ratings in accordance with their repayment history.
Terms and Conditions apply, including applicants being resident in the UK & aged 18+ and, if relevant, businesses being based in the UK.
For full website terms including information on Cashplus Bank, Mastercard and use of Trademarks, please see our full legal disclosures at https://www.cashplus.com/legal/.
Advanced Payment Solutions Limited (APS), trading as Cashplus Bank, is registered in England and Wales at Cottons Centre, Cottons Lane, London SE1 2QG (No.04947027). APS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 671140.
APS provides credit facilities subject to approval and affordability, and where accounts continue to meet APS credit criteria.