Weekly Credit Report Updates on Monzo Plus

Feedback & Ideas
1

Hi guys.

I’ve noticed that on the Credit Karma app your credit score will update weekly, and given that Monzo uses Credit Karma to display a persons TransUnion credit score, I’m curious as to why Monzo provides a monthly credit score, when the source of the information provides it weekly?

I feel the trend with Monzo plus is the ability to have Monzo as a hub for all other financial services you may need, so I’d like to be able to use the app not only for third party accounts but also as a substitute to the original credit score apps, in this case Credit Karma.

Side note: I’ve found that TransUnion tends to be the less common credit reference agency used by financial institutions when applying for a product, so what are your views on Monzo providing other credit reference agencies scores as well as TransUnion? Thanks.

2

TransUnion seems to be the only Credit Bureau that have all my accounts, I would say though that Experian is the biggest and most used. The score is also pretty much useless, banks have their own internal scoring which you don’t get to see. I can’t speak for Monzo Plus but NatWest let me see my credit score in their app and this updates only monthly also… Perhaps it’s part of the deal Credit Karma have with third parties?

1 Like
3

Oh I see, that sounds pretty reasonable. And yes, I guess I focus on my credit score because as you said, banks don’t provide their internal scoring methods, so its to accommodate I guess. Thanks for the reply :slight_smile: