Monzo and Natwest to show credit scores in their apps

colsten

https://www.which.co.uk/news/2020/03/monzo-and-natwest-to-show-credit-scores-for-free-can-it-help-you

oli356

Didn't know that Monzo were planning it, though it popped up in my Natwest (android) app about a week ago. Pretty handy. 

drinae

Marketing gimmick... useless information, that made up score. 

mr_stripey

someone will be along in a moment to tell us it is pointless....

Tildaplum

I think that monzo overdraft interest rate depends on the 'credit score' which may becwhy they are showing it.

colsten

mr_stripey said:

someone will be along in a moment to tell us it is pointless....

Yes, it pretty much is pointless

Tildaplum said:

I think that monzo overdraft interest rate depends on the 'credit score' which may becwhy they are showing it.

I would have thought that Monzo do some more sophisticated credit scoring before deciding whether to extend credit to anyone.

mwarby

I'm pretty sure I've read on their own forum, a post from one of their staff confirming that while they get the data from TransUnion and perhaps the score, that there is more to it than that when it comes to deciding overdrafts.