Managing your Creditbuilder payments

Missing a payment can harm your credit score. If you miss a payment, there are two things you need to do urgently:

Yes. If you wish to pay the remaining balance early, you can do so in Online Banking, in-app or by contacting our Customer Service team.

To cancel your Creditbuilder within the 14-day cooling off period:

1. Log in to Online Banking or the Zempler Bank app
2. Go to Add-ons > Creditbuilder
3. Select ‘Cancel Creditbuilder’
4. Your Creditbuilder has now been cancelled

To close your Creditbuilder after the 14-day cooling off period, you’ll need to pay any outstanding account fees for the 12-month period you have committed to. To do this:

1. Log in to Online Banking or the Zempler Bank app
2. Go to Add-ons > Creditbuilder
3. Select ‘Close Creditbuilder’
4. Repay your outstanding Creditbuilder payments
5. Your Creditbuilder has now been closed and your loan repaid

If the monthly account fee is causing concern for you, we offer Personal (Freedom) and Business (Business Go) accounts that have no monthly account fee. Make sure to cancel your Activeplus or Business Extra Account if you can no longer afford the monthly account fee.

We can also take an early payment in full and close your Creditbuilder over the phone. Contact our Customer Service team on 0330 024 0924.

No. When you add Creditbuilder to your Zempler Account, you're entering a 12-month contract to pay your monthly account fee on time. 
 
If you can’t commit to making all 12 monthly payments on time, Creditbuilder may not be for you at this stage. 

No. You’re unable to change Zempler Account while having an active Creditbuilder. To change account, you'll need to close your Creditbuilder by paying it off in full.

We’ll send you a confirmation email and notify the credit reference agencies. 
 
You can continue to use your account as normal and there’ll be no change in your payment amount or date. You can always add Creditbuilder again. 

Yes. Once complete, you can sign up to Creditbuilder again to try and improve your credit score further. 

If you miss a monthly account fee payment, we'll be in touch with ways you can pay as missing a payment can harm your credit score. 

Yes. To track your Creditbuilder progress, 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. 

If we’re unable to debit your monthly account fee when it’s due, we’re required to report this to the credit reference agencies as late. Make sure to always have the minimum repayment amount of £5.95 for Activeplus or £9 for Business Extra in your account.  

Once you pay the overdue amount on your Creditbuilder, we’ll mark missed payments or Defaults as ‘satisfied’. However, the late payment will remain on your credit report as this will be an accurate record of your payment history. 

We’re required to be 100% accurate in our reporting to the credit reference agencies. 
 
If you’ve only recently missed a payment, give our team a call and we may be able to help. 

We’re happy to review circumstances surrounding missed payments but as the account holder, it’s your responsibility to make sure there’s enough money in your account. 

We’re required to be 100% accurate in our reporting to the credit reference agencies.  

If you think there’s a mistake with the way your payments have been reported, please let us know why and provide any evidence. The reasons will only be valid if you have acted within the Terms & Conditions of the Creditbuilder agreement. 

We’ll do our best to investigate and resolve any issues with you. If you're not happy with the reasons given for why your late payment(s)/Default notice will not be removed, you can refer the matter to the Financial Ombudsman Service (FOS) after you’ve received our final response.