Boshhh Credit Builder Terms

These are the terms that apply to you and Boshhh (Boshhh/us/we) when you use the Credit Builder Service within our App.

These terms work alongside our General Terms and Conditions, App Terms of Use, and Privacy Policy.

Key Information You Should Know

• The Credit Builder Service is paid for by way of an annual subscription. You purchase the subscription through an interest free credit arrangement and repay it in 12 monthly instalments. We will share details of this agreement and your paid monthly contributions with UK credit reference agencies. This helps build your credit profile.

• We cannot promise that your credit score will improve, nor can we say how long it might take to see results. This depends on various factors outside of our control, including how you manage other credit commitments.

• The Credit Builder Service does not provide financial or investment advice. If that is what you need, this is not the right product for you.

• The Credit Builder Service is unregulated credit and is not overseen by the Financial Conduct Authority (FCA). This means you will not have the same consumer protections you would normally receive with regulated products.

• Opening any new credit account can sometimes cause a short term dip in your credit score. This is usually temporary, and as long as you make payments on time, your score should recover and improve.

• If you end your subscription early, your credit score may end up lower than when you started.

• Your subscription will renew automatically for another 12 months unless you let us know you do not want to continue. We will remind you before this happens.

1. What is the Credit Builder Service?

The service is designed to help improve your access to credit and your understanding of how it works. It includes:

• A subscription paid for using an interest free loan, reported to Equifax and TransUnion.

• Tools and educational resources to support your financial knowledge.

2. Who Can Use the Service?

The service is not suitable if:

• You are currently in, or have been in the last 12 months, bankruptcy, an IVA, or a debt management plan.

• You have had one or more County Court Judgments (CCJs) in the past 12 months.

• You are struggling with debt repayments or are worried about your ability to pay.

Even if you build a positive history with us, existing negative markers will still be visible to lenders, which could affect your ability to borrow.

3. How Does It Work?

• The subscription lasts for 12 months and costs £239.88 in total.

• You enter into an interest free credit agreement with us to cover this cost. No cash is given to you.

• You repay the loan through 12 monthly instalments of £19.99.

• We report this loan and your payments to UK credit reference agencies.

This agreement is classed as “exempt” credit under section 60F(2) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. As such, the Consumer Credit Act 1974 does not apply, and you will not receive the protections it normally provides.

4. How Do Payments Work?

• Your first payment is due on the date you sign up.

• Future payments are due monthly on the same date (your “repayment date”).

• Payments are collected via a Continuous Payment Authority (CPA) from your chosen bank card. Unlike Direct Debit, CPA is not covered by the Direct Debit Guarantee.

• You can pay early if you wish, and payments may also be paused if we agree.

5. Missed Payments

• If you miss a payment, we will try to collect it over the following 28 days.

• If we cannot collect within 14 days and you have not contacted us, we may have to report the missed payment to the credit reference agencies.

• No late fees will be charged.

6. Subscription Length and Renewal

• Subscriptions run for 12 months.

• At the end, it will automatically renew unless you tell us at least 14 days before expiry.

• We will notify you four weeks before renewal.

7. Cancelling Your Subscription

• You can cancel via the App or by emailing us.

• If you cancel within 14 days: you will get a refund for payments made, your credit agreement is cancelled, and no record will remain.

• If you cancel after 14 days: you will not be refunded for past payments, but the balance will be settled. How your loan is reported to credit agencies depends on whether you were up to date or not at cancellation.

8. Early Termination by Boshhh

We may cancel your subscription early if:

• You miss payments that cannot be collected within 28 days.

• You breach our terms or we suspect you have.

If this happens, your loan will be reported as partially settled, which could negatively affect your credit file.

9. Rent Reporting

• You can choose to have your monthly rent payments reported to credit reference agencies.

• Rent payments are verified via your bank account data.

• If payments cannot be verified, they will not be reported.

10. Complaints

Email us at hello@boshhh.com. We aim to reply within 7 working days.

11. Data Access and Privacy

• You must link your main UK bank account (where income is received and day to day spending occurs).

• Consent must be renewed periodically, and withdrawing it may suspend services.

• Your data will always be handled in accordance with UK data protection laws and our Privacy Policy.

12. General Use Rules

• The service is for personal use only.

• You must not share your access details or use the service for unlawful purposes.

• If we suspect fraud or misuse, we may suspend your account.

13. Liability and Disclaimers

• The App and Service are provided “as is”.

• We are not responsible for losses such as business income, profits, or goodwill arising from use of the service.

• Nothing excludes liability for death, personal injury caused by negligence, or fraud.

14. Governing Law

These terms are governed by the laws of England and Wales.

Company Details

Boshhh Ltd is a company registered in England and Wales, company number [13188665].
Boshhh is registered with the Information Commissioner’s Office, registration number ZB494978.
The Boshhh Credit Builder Service is unregulated credit and not regulated by the Financial Conduct Authority. Missing payments to Boshhh or other credit accounts may affect your ability to obtain credit in future.
You must be 18 or over to use this service. Terms apply.