<iframe src="https://www.googletagmanager.com/ns.html?id=GTM-WTMQ4QSL" height="0" width="0" style="display:none;visibility:hidden" title="gtm-frame"></iframe>How Business Creditbuilder works
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How Business Creditbuilder works

  1. Open a Business Extra Bank Account

    Once you’ve activated your card and paid any initial fees, Business Creditbuilder will be available as an add-on feature in-app or Online Banking. 

  2. Making payments & tracking progress

    Business Creditbuilder is a 12-month commitment to paying your Business Extra monthly account fee of £9 on time. Track your progress through the Creditbuilder dashboard in Online Banking or in-app, including your payment dates, outstanding repayments and payment history. 

  3. Grow your credit score

    We’ll report your monthly payments to credit reference agencies to build your business credit score. Building a good credit history takes time. Creditbuilder lasts 12 months and it can take at least 3 months to see any change in your credit score.

FAQs

  • Creditbuilder manages your monthly account fee as a payment plan over 12 months, and we report your payments to credit reference agencies. Please note you don’t receive any money or refunds from us. 

    Provided you make your 12 payments of £9 on time and manage any other credit responsibly, credit reference agencies will likely see this favourably which could improve your business credit score. Missing a payment can harm your credit score. 

  • The tool comes in handy if your business doesn’t have a credit history, or your business credit score needs an extra boost. 

    You must be able to afford to make your 12 monthly payments of £9 on time, as missing a payment can harm your credit score.

  • Yes. Business Creditbuilder manages your monthly account fee as a payment plan over 12 months. Missing a payment or making a late payment can harm you credit score. 

  • No. Business Creditbuilder only manages your monthly account fee as a payment plan to help demonstrate your reliability in making payments to credit reference agencies. 

    The payments you make cover the monthly account fee for your account, which is charged regardless of whether you’ve added Creditbuilder. No money is transferred to your account or refunded at any point.

  • Business Creditbuilder is a 12 month contract, committing to pay your monthly account fee on time. The extended timeframe helps demonstrate your reliability in making payments to credit reference agencies, which could improve your business credit score.

    You should only add Business Creditbuilder if you can afford to make your 12 monthly payments on time, as missing a payment can harm your credit score. The total amount payable is £108. 

  • Business Creditbuilder is an add-on for an existing business account with a sole purpose of helping establish or improving your business’s credit score.

  • No. You can only add Business Creditbuilder to a Business Extra Account. 

    If you have a Business Go Account and want to add Business Creditbuilder, you can change your pricing plan in-app or Online Banking. Please remember Business Extra Accounts have a £9 monthly fee.

    Go to Settings > View Pricing Plans > Switch to Business Extra.

  • Business Creditbuilder is a 12 month contract, committing you to paying your monthly account fee in full and on time.

  • We'll send you an email confirming your Business Creditbuilder application alongside all the information you need to know, including payment dates and amounts.

  • No, you'll just pay your monthly account fee as usual over the 12 month period. Business Creditbuilder manages your monthly account fee as a payment plan for the purpose of reporting to credit reference agencies. 

  • Yes. Business Creditbuilder is an add-on to your Zempler Bank account.

  • Yes, it’s possible to have other products or add-ons. We’ll be sure to let you know about any other credit products that you’re eligible for. Make sure to have opted in to marketing communications so that you don’t miss any notifications.



© 2024 Zempler Bank


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 Zempler Bank, Mastercard and use of trademarks, please see our full legal disclosures at https://www.zemplerbank.com/legal/. Zempler Bank Limited (“Zempler Bank”) is registered in England and Wales at Cottons Centre, Cottons Lane, London SE1 2QG (No.04947027). Zempler Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 671140. 

Zempler Bank provides credit facilities subject to approval and affordability, and where accounts continue to meet Zempler Bank credit criteria. 

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