Canopy Grow and Homebox: Everything you need to know

Homebox isn’t just an easy way to manage all your bills in one simple payment. Their plans also come with extra features to make managing your money easier.

One is Canopy Grow – a powerful way to turn regular monthly payments into a better credit score. A Canopy Grow subscription is included in your Homebox plan, so here’s how to get the most from the platform.

What is Canopy Grow?

Canopy Grow is a collection of credit-building tools designed for renters. There are three main features – Rent tracking, Clever Credit and Credit Profile. Details of your regular payments are sent to all three major credit checking agencies to build your credit history and improve your credit score.

The service is available to anyone renting a home in the UK, with no hard credit checks required.

How does it work?

Rent Tracking

The first feature- Rent Tracking – reports your existing regular rent payment to major credit tracking agencies in the UK. You don’t have to change anything about the way you pay your rent. Just register for Canopy Grow, link your bank account and identify your most recent rent payment. Canopy will then report your rent payment each month automatically. Rather than your rent payments disappearing into your landlord’s account, you’ll get credit for making your regular payments every month.

Clever Credit

Clever Credit works on a similar idea, letting you track the payments you’re making every month to show future lenders that you can be trusted to make reliable repayments. You can track any of your monthly subscriptions through Clever Credit and Canopy will treat them as a risk-free credit agreement and repayment. Just like with Rent Tracking, these payments are reported to all three of the UK’s major credit tracking agencies.

Credit Profile

Your credit profile lets you easily access your credit score and report. Your profile offers personalised advice on improving your rating and use simulations to see how certain actions will affect your score. Track your score as it changes over time to see what’s helping – and hurting – your credit.

How to get started with Canopy Grow

All Homebox customers get a free, premium subscription to Canopy Grow worth £7.99 a month. To claim it, register for Homebox and you’ll be sent a unique code. Sign up for Canopy Grow at their website and enter the discount code for your free plan!

If you’re not a Homebox customer you can still save 10% on Canopy Grow with Please Connect Me. Learn more here!