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TotallyMoney launches UK’s first free live credit score service

TotallyMoney has launched a Live Credit Score service that provides customers with up-to-the-minute information about their credit status each time they log in. Customers now have access to six years’ of credit history information in a free credit report and receive real-time
notifications to help them understand any changes in their live credit score.

TotallyMoney has also developed a unique, proprietary Borrowing Power algorithm. It uses information from both the customer’s live 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 position today, Borrowing Power helps them build a better financial future.

The credit report data is provided by Callcredit and TotallyMoney has designed these free tools to help customers make smarter credit decisions and take control of their finances.

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.

Alastair Douglas, TotallyMoney CEO says: “Our mission has always been to help people get a better deal from the credit industry. And we believe that technology can bring about that change by empowering customers and challenging lenders. This suite of tools that is available totally free for all TotallyMoney customers, and takes us a step closer to our goal of a fairer consumer credit market. We’ve built a product that gives everyone the best opportunity to make the most of their credit, no matter what their current status.”