Credit Building > Pave Credit Builder Review: Can it pave the way to your financial future?

Pave Credit Builder Review: Can it pave the way to your financial future?

1 minute read · Updated 9th April 2024

What is Pave?

Pave is one of the credit builder apps aiming to help people work on their credit score. How Pave works is by setting up a revolving credit account for users when they get a membership. The monthly membership payments are then reported as settling an outstanding balance.

This set-up lets the Pave credit builder work in two main ways. First, they report your on-time payments. Second, they give you a larger credit line, but only let you use a little of it. This can keep your credit use low, which is another thing that can help improve your credit score. The credit agencies recommend keeping credit utilisation below 30%.

What else is in the Pave app?

Pave has two membership tiers: a "Lite" option at £5 and a "Plus" option at £9. Both memberships give you in-app access to your TransUnion credit score, support from Credit Experts via Email or Whatsapp, bill payment reminders and protection and the chance for a reward for paying bills on time.

However, Lite only lets you build your credit score with TransUnion, while Plus lets you build it with all three credit agencies. The other things you get with Plus include your Equifax credit score and a refund policy if your score doesn’t improve after 12 months.

Anything else I need to know about the Pave app?

It’s worth noting that a lot of what Pave offers is offered for free elsewhere. Credit Karma gives you your TransUnion score, with insights, for free. ClearScore also gives you your Equifax score, with insights, for free. You can also set up bill reminders for yourself for free on your phone instead.

Pave only gives a refund for their Plus plan under specific circumstances. You have to follow all of their advice, don’t get any defaults, CCJs, IVAs or similar, be on the electoral register at your address for 3 months before claiming your refund and you can’t have opened any new credit account in the 3 months before claiming your refund.