The Equifax credit score shown in the Monzo app differs from the credit score on the Equifax website. It plunged by over 500 points which prompted me to sign up for a free account on the myEquifax website, which confirmed my credit score is still very good, however in the Monzo app it’s much lower.
Is there any way a refresh can be forced to pull the correct score as it looks very bad in the app
This has also happened to me. Mine has dropped 356 points. I also signed up for a free account on Equifax and there has been no drops on there. As bad as it sounds I’m glad it’s happened to someone else as-well and not just me. Hopefully this is resolved on the next sync.
Scores are only for guidance, they have no financial bearing. All financial companies do their own scoring when you apply for credit, so you could have a maximum score and still get declined.
The scores also only get updated every 5 days as well.
What matters is that the information on your credit reports is correct and accurate.
Fair comment @AaronB1, but if you’re relying on a third party service (particularly one you’re paying for) to give you a window onto your credit scores with the main CRAs, I think it’s reasonable to expect that those scores should be reported accurately.
And a sudden (apparent) drop of that magnitude would be of concern to the user.
I don’t really fancy chasing down equifax, I don’t think I should have to either. Pretty sure I don’t work for Monzo. They could simply email their contact at equifax, “hey, some customers are noting data issues, could you look into it?” Too much to ask I guess.
Nope, you don’t, but you have a problem and Equifax likely either hasn’t updated the same day as Monzo, or something may have gone wrong the other side.
Nah I’m good, my equifax score is fine. What they’re sending Monzo is wrong though and it shouldn’t be up to me to sort it. If Monzo cannot get partners to send them accurate data, they shouldn’t use them. At the very least Monzo should ask them to correct known errors. Not asking for the world here.
I have an account with them directly and I checked other services which aggregate scores. Not a timing issue either, been wrong like this through an update.
This is an issue with what they’re sending Monzo. We’re all paying for an “everything is okay” alarm, but it’s worse than useless if they’re getting dodgy data from their partners. Absurd that it’s somehow my issue to resolve.
This isn’t a timing thing, it’s a discrepancy of hundreds of points in the reported vs actual score.
If users are reporting this to Monzo, with evidence, then Monzo should investigate. Root cause could be any number of issues, but we’re customers of Monzo and they should be the ones to investigate with the third party (Equifax).
The challenge is nobody here knows how the process works, it sounds like equifax provide the data straight to Monzo, hence if it’s wrong, they are not in a position to resolve it.
I agree it’s rub*bish.
Have you tried clear score to see what they hold as your score, they provide free updates for equifax
The rational behind this is to see if other providers have the same problem
After I posted recently that ClearScore had merged my Equifax report with a random stranger’s report, I’ve been unable to log in. Their CS agents say that they are doing extended maintenance that is preventing some UK users logging in and to get a free, statutory report directly from Equifax if it’s urgent.
I’m beginning to wonder if they’ve had some sort of security breach.
We’re aware of an issue that affected some Equifax scores last week (June 9th-13th) and are currently investigating why this happened with Equifax. The issue seems to have been resolved this week and your Equifax score should now be showing correctly in the app.
If you’re still seeing a problem, please let me know and we’ll look into it.
We’ve very sorry for any confusion or concern this may have caused and we’re continuing to work with Equifax to make sure this doesn’t happen again.
