When you are looking to apply for a mortgage, lenders will look for a history of repayments on your credit file.

Through rental reporting with Bits, you enable us to report your payments by allowing us view-only access to your bank transactions, through open banking. This is a very secure way for us to identify and track your rental payments, to then report to Equifax.

When we report your rent to Equifax, we build up a history of repayments to prove to lenders that you aren’t a risk, and will make your payments on time.

Rental payments are by far the most accurate reflection of your ability to pay back a mortgage, as often, you’re actually paying more in rent per month than you would towards a mortgage.

You can remove permission for rent reporting at any time by emailing hello@getbits.app.

You can update your rental details in the app. Scroll to the Bits Rental Reporting tab, and click “Update my rental details”.
If you have moved house, you should also update your address. You can do this by clicking Settings, then “Update my postal address”.

You need to make sure that you pay your rent. If you miss a rental payment, this could have a negative effect on your credit score.

You’ll need to renew your rental reporting with Bits once every 90 days.
This is a legal requirement- to comply with European law, to keep your data as safe as possible. If you don’t renew it in time, we lose access to your transactions, and can’t report your rent.

Bits uses Plaid, an FCA regulated payment institution, to obtain read-only access to your personal information, accounts and transactions including when you are offline.

Your data is kept safe and private with best-in-class encryption protocols like the Advanced Encryption Standard (AES 256) and Transport Layer Security (TLS).

You can find more information on how Plaid ensures the safety of your data here -https://plaid.com/safety/.

We currently report your rent to Equifax, the credit bureau linked to ClearScore. You should be able to see Bits on your Equifax credit file under Rent Data.

No, not at all! Rent reporting is a new and completely free feature that is now included in the Bits service as part of your subscription fee.

No, you don’t get that back, as that is a fee for the credit building service we provide and is used to cover our costs.

Bits will usually take 6-8 weeks to appear on your credit file.

Yes, absolutely!Bits is a member of Experian CAIS (registration number 11620703), Equifax Insight, TransUnion and is registered with the Information Commissioner’s Office (ICO) (registration number ZA507202).

Bits is a credit building service. Use it if you are looking to build your credit score and history.

Yes, you can, but please know that Bits is not for everyone. There are a lot of circumstances in which you would be better off not applying for any new credit - including Bits. For example, if you have a recent CCJ, IVA, or bankruptcy; or if you are heavily indebted; or behind on bills; or generally struggling to make ends meet. You can always reach out to us discuss your circumstances in more detail via hello@getbits.app.

Please sign up using our mobile app or web app. We have apps in the Apple Store and Google Play Store, and you can find them by searching for ‘bits credit’.

Yes, you can do it in the app. Click on ‘about my card’ and then ‘update payment date’.

Yes, you can do this in the app too. Click on ‘about my card’ and then ‘update billing info’.

For Experian - use the Experian app.
For Equifax - use the ClearScore app.
For TransUnion - use the Credit Karma app.
For the fullest picture of your credit health, use all three!
We can't actually see your score - you're the only one who can see it and track it.

Yes! Bits now reports to TransUnion, meaning you'll be able to track your progress via Credit Karma.

Please email us at hello@getbits.app. and we will get it done for you.

Every month we charge the card that you used during signup. Everything happens on auto. If for any reason we are unable to bill you (for example, if the card is declined), then we’ll email you letting you know.

Yes

You’ll immediately get a payment receipt, and within a few hours, you’ll also receive a welcome emails explaining how it works.

Email us at hello@getbits.app

Usually this happens because you’re clicking on an old password reset email. Make sure the password reset email you’re clicking in is the most recent one we’ve sent. Old ones expires immediately.
This can also happen when you try to reset the password using a different email. Make sure that the email you’re trying to sign in with is the same one you used to sign up for Bits with.

Please email us at hello@getbits.appp if it’s been 24 hours and you still haven’t gotten anything.

You can book a time with us:book here

No, it won’t. To cancel, email us at hello@getbits.app!

Not yet - we’re working on it.

Sorry about that. It happens fairly often actually. We use Stripe, so really this is out of our control.

Sadly, no. The card you pay with has to be in your name.

If it's been more than 8 weeks, and Bits still isn't on one or more of your credit files, then something's not right.
Usually, the problem is that the address we have on file for you isn't linked to your credit file. Try updating your address with Bits, TransUnion, Equifax, and Experian.
If, after a month, this hasn't worked, please get in touch with us at hello@getbits.app.