Callcredit has partnered with TotallyMoney to launch a free live credit score service.
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 a 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 is designed to make it easier for customers to get their credit report while still providing secure registration and data security.
The TotallyMoney service also introduces a 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.
Alastair Douglas, TotallyMoney CEO, said: “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 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.”
Jacqueline Dewey, managing director – consumer team, Callcredit, said: “We’re delighted to be chosen as data partner for TotallyMoney’s new service expansion. This partnership underlines Callcredit’s reputation for being an innovative and consumer-led bureau.
“By combining TotallyMoney’s financial product comparison and UX expertise with Callcredit’s leading data assets and consumer credit knowledge, we’ve created a service that will empower consumers to better understand their credit position and make smarter borrowing decisions.”