Monzo Plus Multiple credit agency scores

Monzo lacks the ability to have multiple credit scores in the app. Experian is ideal for mortgages and loans and yet mine is 200 less compared to Transunion. The fact that there is no cross transparency can mean that if companies abandon one agency for another can hinder your chances for a loan.
I would like to see more frequent updates from Transunion on a weekly basis inside the Monzo app.

All credit agencies are a gimmick. They sell your data and convince you to pay them to inflate your made up score.

I wouldn’t place so much emphasis on perfecting your score. Lenders typically form their own assessments on creditworthiness from multiple sources and layer it all together to get a far more accurate representation :slight_smile:


But no lender sees your score. Nobody except you.

It’s a made up number by each agency of a potential view of lenders, but lenders have their own internal scoring system which will differ to that of the agencies.

A lender looks at repayment history and account management, so if those are good, they might lend to you.

You can have a 999 score and still be declined the best loans or cards, because they don’t feel you fit their criteria full stop.


What impact would seeing a different score have?

It’s important to check your credit score regularly /s

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That situation may be possible if you have several credit cards on the go?

For example:

Credit card#1, limit of £3,000, balance of £1,600
Credit card#2, limit of £2,000, balance of £1,100
Credit card#3, limit of £6,000, balance of £2,700

Total available credit = £11,000 Total credit used = £5,400 - so less than half of the available credit used, but using more than half of the available credit with Credit card#1 and with Credit card#2

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Absolutely, but it’s still ridiculous.

I can increase my score by moving a few quid from one card to the other.

But we know it’s ridiculous anyway.

Edit: I could increase my credit score by moving part of a balance from a zero interest card to one bearing 25% or whatever it may be. Bonkers!!!