Build Credit on a Single Income

The single parent credit challenge

Managing a household on one income leaves little room for extras. But a poor credit score makes everything more expensive.

• Higher interest on borrowing — every loan, card, or finance deal costs you more than it should.
• Bigger deposits for rentals — landlords ask for more upfront when your credit isn't strong.
• More expensive car insurance — yes, insurers check credit too and charge accordingly.
• Rejected applications when you need them most — the worst timing, declined exactly when you need help.
• The stress of closed doors — financial options that should be open, simply aren't.

Making every pound count

Wollit costs £9.99/month — that's £120 per year. Compare that to the cost of bad credit: a credit card at 30% APR versus 20% APR on a £1,000 balance means a £100/year difference alone. Add higher rates on car finance, bigger rental deposits tying up your money, and poor credit costs more than most people realise.

A stronger credit score can reduce the cost of borrowing over time.

Separating your credit after a relationship

If you've recently separated, your credit might be tangled with your ex's. Financial associations are created when you have joint accounts, joint mortgages, or are listed on each other's credit applications. Their credit behaviour can affect yours.

• Close or separate all joint accounts
• Remove their name from any bills in your name
• Request a “notice of disassociation” from credit agencies
• Start building your own independent credit history

Wollit helps with that last step — building credit in your name only.

Building credit without stretching your budget

You're probably already making payments that could build your credit — they're just not being counted.

• Rent reporting — your rent, whether it's £600 or £1,200, is proof you can manage regular payments. Wollit reports it to Experian and Equifax. Money you're already spending, now building your credit.
• Payment reporting — A fixed monthly cost of £9.99 adds another positive payment to your credit file, building your future.