What happens if I miss a Credit Builder repayment?

If you miss a payment, we’ll need to report your account in arrears to the credit agencies. We’ll give you the ability to catch up on missed payments, but missing payments can have a big negative impact on your credit score and history.

If you miss 4 consecutive payments, we will close your credit builder automatically and return all the payments you’ve made to your Monese GBP account. This is a safeguard to make sure your Credit History doesn’t get as severely impacted.