Does Monzo share data with Experian? Credit rate plummeted since joining!

I joined Monzo only 3 months ago and a friend followed suit but just today alerted me to their credit score taking a fall. I have gone into Experian and my credit score which was excellent at the beginning of 2020 (best score possible!) has plummeted to low :sob: It shows no sign of my Monzo account at all and I cannot seem to find any certainty that Monzo are now sharing data with Experian.
I will be applying for a mortgage by the end of the year so I don’t need this!
I use Monzo as my primary account but never actually closed my other bank account and still have a couple DD’s go out of it each month.
Really feel the need to flee Monzo right now!!
Any advice?

If you closed ur long standing bank account then this will be the reason.

CRA score mean nothing to mortgage companies as they do a more in depth check, like payslips for last 6 months etc


Very strange. I’d keep your other accounts open, as a long-standing account history is a positive factor on credit score.

Hopefully it bounces back up next month - may just be a temporary dip from opening a new account.

There are three main credit agencies, worth keeping an eye on all of them prior to your mortgage application. You can access them for free here:

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Is there anything new on your report that could have caused the drop?

Mortgage lenders look at the report not the make believe score so it’s the actual report you need to look at

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I have kept the previous account open so think I will revert to having my wages paid into that one. I lvoe what Monzo offers in terms of managing finances etc and the pots and round ups but u cannot afford for this to effect the credit rating. A basic Google search seems to show I am not the only one :thinking:

Thanks for these tips! I will check them out

Did you take an overdraft with Monzo?

You’ll probably see it appear next month if you’ve only been with monzo 3 months.

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Don’t worry about your figure in the Credit Reference Agency, they make the number up.

Your mortgage offer is much more based on affordability, so taking a new current account won’t affect that very much at all. Go to a good broker, and they’ll get you a good deal, which can be finessed if the lender needs you to do anything specific.


I should also add opening a new account doesn’t cause it to plummet on Experian so its probably something else. The most I’ve see it drop is 6 points.

When you say plummet what score are we talking?

I swap my main bank yearly, sometimes twice depending on what CASS bribes are going.

If I had better account stability I might get 100% but it’s all made up really.

Here’s how it appears

You are panicking because a pointless number has changed, lenders check your credit history, experian is not going to give you a mortgage.


This I would check and see if you see the same drop on Equifax via Clearscore that monzo don’t do anything with.

If you look on Credit Karma it’ll give clear reasons.

I would make sure you aren’t seeing anything that shouldn’t be there like something new on Cifas that could be the reason for the plummet.

I did yes but not entered it

291 points since May when I opened Monzo and have left the other account dormant but still open. It does coincide with a house move, I have no debt at all

Probably the house move. Time at address seems to matter a lot and a move tends to result in searches for utilities

When I did a full switch from Barclays to Monzo I dropped about 30 points for a couple of months. Large overdraft with Barclays boosted the score


Yeah it’s likely to be the house move. 291 seems a lot but yeah it wouldn’t be from switching or setting up a bank.

I’ve just switched my legacy Lloyds>Halifax on Friday so I’ll report back how much it dips.


I’m a Monzo Plus customer (for now). Monzo informed me today that my TransUnion credit score had gone down because I’d opened a new account.

Which is ironic, because I opened the account because Monzo didn’t offer me a service (cheque imaging) that I wanted.


In that case not necessarily surprising your score has gone down.

Wouldn’t have expected much change for just opening a new current account but applying for a credit product (overdraft) can cause a dip. Am surprised a bit by the extent of the dip but it will depend on all sorts of interactions with other factors which only Experian could explain (e.g. amount of other credit, prior history with credit, etc).

House moves can have make a big dip because you lose the voter registration at the same time. Get on the register as it can take a bit to see it.
Opening accounts causes a small dip but not for too long. House moves are a bigger dip but either way it won’t affect your mortgage chances.


I have Monzo since November and they don’t show up. Starling does. So it would be interesting to find out from Monzo