I’m thinking about switching from Barclays to Monzo, I’m just worried about my credit score. Will this be affected from the switch over?

Hi @lukespoor There are a number of factors that affect your credit score. Opening a new account and closing an account you have had for a while can have an impact. However lenders tend to look more at affordability and your credit history when making decisions. If you are planning on applying …

https://community.monzo.com/search?q=credit%20score Loads of other posts about this if you search.

Hey @lukespoor A familiar face and small world :earth_africa: Welcome to Monzo! :wave:

For some reason, my Monzo account doesn’t show on my credit score, so I’m not sure what would happen if Monzo was my sole account…

Monzo currently only report to one credit reference agency (TransUnion - report accessible for free via Credit Karma). If you are looking at reports from the other credit reference agencies your Monzo account won’t show up.

I was on the phone to mortgage advisers yesterday and they suggested to let them know that it’d be best to check TransUnion when it comes to the credit check stages. Probably worth keeping in mind for any similar applications in the future.

I’d be amazed if a mortgage provider (or anyone doing a credit check) took note of any advice like that. Purely based on previous conversations that I’ve had, and would love to be wrong.

Any reason why Monzo doesn’t report the the big (aka well-known) credit agencies? Seems short-sighted not to do so. Presume it must be cost as it’s all API driven?

I don’t know about the “why” but they have said they are working on reporting to the others [image] How to check your credit score and report News & Updates Hi all, I’m afraid we don’t have an update for you on this just yet - sorry. But we’re still working on reporting …

Switching to Monzo - Will it affect credit score/rating

UK Help

o99 14 July 2019 09:10 10

I don’t know about the “why” but they have said they are working on reporting to the others

Topic		Replies	Views
Is being fully Monzo ruining my credit score? Monzo Chat	128	34719	12 November 2019
Does Monzo share data with Experian? Credit rate plummeted since joining! Monzo Chat	27	3218	17 August 2020
Why doesn't Monzo appear on my credit reports? Monzo Chat	2	4407	30 August 2019
Article - Why going 'full Monzo' can damage your credit score Monzo Chat	78	11713	25 October 2021
How to check your credit score and report News & Updates	66	7849	15 July 2019

Switching to Monzo - Will it affect credit score/rating

Related topics