Wollit

Wollit, a British platform for building credit history

Wollit is a company registered in England and Wales (company number 10687003) that operates a subscription platform aimed at people with limited or no credit history. Its proposition is to turn payments the user already makes — mainly rent — into records that UK credit agencies can check. The company presents itself as a financial inclusion platform with the stated goal of helping one million people access fair credit by 2027.

How payment reporting works

The service is built around a subscription of £9.99 per month. Signing up does not involve a credit check. Once set up, the user connects the UK bank account from which they pay rent, and Wollit verifies those payments to report them monthly to Experian and Equifax. In addition, the monthly payment of the subscription itself is reported to all three agencies: Experian, Equifax and TransUnion. The landlord does not need to sign or authorise anything, and the user continues to pay rent as usual.

According to the platform's information, the system can generate up to five on-time payment records per month, equivalent to a maximum of sixty records per year distributed across the agencies. The first reports usually reach the agencies within a few weeks, and from then on reporting is monthly as long as payments are up to date and the rent has been verified. If a rent payment cannot be verified, it is not reported or treated as a missed payment.

Subscription, financing and terms

The annual subscription has a total cost of £119.88, paid in twelve monthly instalments of £9.99 through interest-free credit. The company specifies that this amount is not given to the user in cash, but finances the year of service. Wollit notes that opening this account appears on the credit history as a £119.88 loan and may cause a small temporary drop in the score. On-time payments add to the history; missed payments may also be reflected.

There is a fourteen-day money-back guarantee: if cancelled within that period, the monthly payments are refunded, the agreement is ended and nothing further is claimed. After that period, cancellation is still possible from the app; if payments are up to date, the account is reported as settled, and if there are arrears, it may be reported as partially settled. The company warns that cancelling before completing the twelve months may not have the same positive effect.

Requirements and unsuitable profiles

To take out the service you must be over 18, reside in the UK and have a UK personal bank account. The platform advises against signing up for those who have had a county court judgment (CCJ) in the last year, are struggling with debt or worried about affording payments, or are in bankruptcy, an individual voluntary arrangement (IVA) or a debt management plan, or have been in the last twelve months. In those cases it refers them to free support organisations such as MoneyHelper and StepChange.

Tools included in the subscription

In addition to payment reporting, the subscription gives access to a set of utilities aimed at preparing the user to apply for credit:

• Affordability Boost: connects the bank account and analyses income and spending patterns according to the criteria that may interest lenders, showing which aspects look healthy and which may need attention. It includes an affordability report with ten factors, such as the income-to-spending ratio, overdraft use, buy now pay later (BNPL) purchases or failed direct debits.
• Olli AI: an assistant that answers in plain language questions about credit in the UK and about the user's specific situation.
• Credit Smart: short lessons, about five minutes long, on how credit works.
• Credit Wins: identifies regular bills that could also help build credit history.

Activity data and recognition

The platform states it has more than 350,000 registered users and a rating of 4.6 out of 5 on Trustpilot. It says it was founded in 2018 and is backed by a global bank and financial investors. Among the recognitions it displays are Best UK Credit Builder in 2024 and 2025 and Best Credit Access Platform in 2025. The company also states it works with some of the country's largest financial brands.

Regulatory status

Wollit Ltd is authorised and regulated by the Financial Conduct Authority (FCA) for credit broking activities, with reference number 781247. However, the Credit Builder subscription is classified as unregulated credit and is not supervised by the FCA, which means that the consumer does not have the usual protections of a regulated product. The company is registered with the Information Commissioner's Office under number ZA554988.