Customers can now track their credit score and likelihood of being accepted for credit, access their full credit report and receive notifications of changes. All totally free.
TotallyMoney has launched a Live Credit Score service that provides customers with information about changes in their credit status each time they log in. Credit file data is provided by Callcredit and customers now have access to six years’ of credit history information and receive real-time notifications to help them understand any changes in their live credit score.
The TotallyMoney service introduces an innovative new sign-up process that removes the requirement for customers to provide any credit card details as part of the ID verification. Developed by Callcredit and rolled out first to TotallyMoney, this new sign-up makes it easier for customers to get their credit report while still providing secure registration and data security.
The TotallyMoney service also introduces a unique, proprietary Borrowing Power algorithm. Under a different credit reference agency partnership, this uses information from both the customer’s credit position and real-time market-wide lending data, to show them how likely they are to be accepted for credit, without impacting their credit rating.
While the Credit Report helps customers understand their financial history and their Live Credit Score tells them about their current position, Borrowing Power helps them build a better financial future.
Smarter Credit Decisions
TotallyMoney has designed a suite of free tools to help customers understand their Callcredit credit file information, make smarter credit decisions and take control of their finances.
TotallyMoney’s four new tools put more power in the hands of customers:
- Live Credit Score & Full Credit Report – Your current credit position, plus six years of borrowing history made straightforward and simple to check.
- Borrowing Power – A real-time view of how likely you are to be accepted for credit.
- Intelligent Alerts – Notifications of changes in your credit report and credit eligibility.
- Bespoke Personalisation – Helps you make informed credit application choices by simplifying product comparison.
Customers can use this credit information to take action. They can work on improving their credit score and boost their Borrowing Power by following personalised tips and suggested actions. They can see credit matches tailored to their circumstances, ranked according to the TotallyMoney’s decision algorithm, Match Factor, and target their credit applications accordingly to give themselves the best chance of being accepted.
These new services build on the powerful, personalised credit comparison platforms that TotallyMoney has developed and that power some of the UK’s most forward-thinking financial brands. TotallyMoney’s data-led insights enable their lending partners to design and market better products to TotallyMoney customers.
Source: Callcredit Press Release
