Frequently Asked Questions

What is a Nigzu credit score?

Your Nigzu score is a representation of your creditworthiness. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers. Therefore, the higher your score is the more likely you are to be approved for a loan and receive favorable terms.

How can I build my Nigzu credit score?

We generate Tailored Spend Agreements that you can accept or customise which allows you to build your Nigzu score. When you complete your Spend Agreements your score goes up by the specified amount shown on your customised agreements.

What affects my Nigzu credit score?

Your Nigzu score can increase or decrease based on your spending activities, your income and your balance at the end of each month. If you complete your Spend Agreements by their specified completion date, your Nigzu score goes up, but if you miss payments or cancel your agreements, your score will be affected negatively.

When does my Nigzu credit score update?

Your Nigzu score is calculated based on your spending activities, which means that your score will be updated in real time, whenever a payment goes through.

What is the minimum amount I have to commit to on a Spend Agreement?

You can create and accept Spend Agreements with as little as £1 if you wish.

What is the minimum time I have to commit to on a Spend Agreement?

The minimum time frame you have to commit to on your Spend Agreements is 3 months.

Can I cancel a Spend Agreement?

You will be able to cancel a Spend Agreement anytime after it was accepted, however, be aware that it will be considered as defaulting on the spend agreement and it may affect your Nigzu score negatively with the possibility of you losing more points than you’ve gained with the agreement.

What happens if I don’t complete a Spend Agreement?

If you are unable to complete all, or one of your spend agreements with Nigzu, due to personal financial reasons, your Nigzu Credit Score will be negatively impacted. These missed spend agreements will stay on your file for 3 years before being expunged. 


If you are unable to complete all, or one of your spend agreements with Nigzu, due to non financial reasons (eg. being unable to spend at the spend agreement recipient due to your location), you will be notified 3 days before the spend agreement due date, to pay Nigzu the remaining balance left on your Spend agreement. The paid amount to Nigzu will be refunded to your bank account when you next shop at the spend agreement recipient. 

Please note however this will have the unattended effect, that you must in the next month spend more than usual to honour the spend agreement for the next month. 

We advise all our consumers to think carefully beforehand about whether they will be able to reliably honour the spend agreement for the specified time frame chosen.

What personal data do you collect?

We obtain two categories of data:

  • Personal - any piece of information that could identify you such as your name or postal address

  • Non-personal - This is anonymised data that can’t identify you that includes transactional data collected through the Open Banking Initiative

How can I see what personal data you hold on me?

You will be able to view all the pieces of information we hold about you, how we collect the data and who else has access to your data on our platform after you have logged into your account.

Who do you provide my data to?

We only work with companies and organisations that pass our regulatory and compliance checks, and just like us, have legal obligations to comply with data protection and other laws.

What are my data rights?

Under the Data Protection Act 2018 / UK General Data Protection Regulation, you have the following rights that are related to our business:

  • The right to be informed - to understand what happens to your personal data

  • The right of access - to see what data we hold on you

  • The right to rectification - to correct any information that we hold on you

  • The right to erasure - to request the complete deletion of your data we hold on you

  • The right to restrict processing - to be able to withdraw your consent for using your data

  • The right to data portability - to move your personal data and reuse it for different services

  • The right to object - to object to how your data is processed in certain circumstances

  • Rights in relation to automated decision-making and profiling - to understand whether we use your data for automated decision-making or profiling and how we use your data

How can I remove data or incorrect information on my credit report?

If you believe we hold any incorrect information on you, you will be able to request a removal or correction process on our platform, to which the team will respond within 7 days and help you with your inquiry.

Can I opt out of other organisations using my personal data?

When you sign up to use our services, you give consent for us to collect data about you and share certain information with third party organisations for marketing purposes. Nigzu will not provide an option for you to opt out from sharing your data with third parties. If you wish to stop receiving targeted marketing from other organisations, the only way you may do so is by deleting your account with Nigzu after which we will delete all information we hold on you.

Keep in mind that you may still receive marketing communications from organisations, but they will be less relevant to you.

How do you keep my data safe and secure?

We recognise the importance of keeping consumer data secure and one of our top priorities will be to ensure that Nigzu adheres to the data protection regulations and comply with the industry codes of practices. We will take a number of important actions to ensure your data stays protected, which includes staying up to date with current technologies or putting in place policies and security measures to minimise risks.