Insight

Our thoughts on the changing shape of the consumer credit market.

How we’re making it easier for customers to fix credit report errors

If you’re reading this, most likely you have a TotallyMoney account and you have already checked your credit report and credit score. If you haven’t got one yet, don’t worry. You can sign-up for yours in less than five minutes. It’s totally free, forever!   Regardless of whether you have a high or a low …

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An Introduction to Borrowing Power

Borrowing Power is unique to TotallyMoney. It’s one number to show how likely you are to be accepted when you apply for credit — and you won’t find it anywhere else. Think of it as your credit health meter. The higher your Borrowing Power, the better the credit card and loan offers you’re likely to …

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Fresh thinking for customer success

In an economy where credit products are so readily available, it’s surprising how little we know about our own ability to get credit. If you asked any of my friends about their credit history you would likely be met with blank stares and confused looks. Understanding your credit report is important, but we are rarely, …

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No piece of cake getting a slice of the action

On Sunday, TotallyMoney’s 250,000th customer joined our service to get access to their free-forever credit report, Borrowing Power and best credit matches. Our growth since our September 2017 launch has been sensational.  In only five months, we’ve attracted one-quarter of a million people to use our service. In that time, we’ve launched a national TV advert, become …

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Contact. Less is More

A look into the rapidly growing world of contactless payments and the impact this could have on credit cards, and possibly even mobile phones.

A View on TV Marketing in 2017

Senior Marketing Manager Ben Reeves gives his thoughts on what companies should think about if they are marketing their brand and product or service offering on TV in 2017.

TotallyMoney.com – ‘Better Diet Comparison’

With the average diet only lasting for 19 days, TotallyMoney.com has taken a look at some of the most popular, analysing the ideas behind them, meal plans and both the health costs and potential financial costs involved.

Mind the Product conference 2016: How to succeed as a product manager

Being a product manager is easy right? All we’ve got to do is ideate a list, prioritise that list and lastly execute said list – Here are the fundamentals taken from the Mind the Product London 2016 conference to make sure our products succeed in three simple steps.

Consumer confidence remains high, but millions still missing out on cheaper borrowing

The latest consumer credit figures from the bba show that consumer credit is growing at 7.2%, the highest rate in a decade. It seems that consumer confidence remains strong following the Brexit referendum. Savvy borrowers are continuing to take advantage of the cheap deals that followed in the wake of the Bank of England interest rate …

Read moreConsumer confidence remains high, but millions still missing out on cheaper borrowing

Credit card holders to get ‘time to find a new deal’ alerts

Last week, the FCA published their Credit Card Market Final Findings and announced the introduction of measures designed to protect consumers. The publication highlighted two particular concerns. First, that a significant number of people in the UK carry potentially problematic debt for a number of years – they found that 650,000 people had been in …

Read moreCredit card holders to get ‘time to find a new deal’ alerts

Customer complaints about credit cards continue to fall

The number of complaints received by the financial ombudsman service about credit cards has fallen for the third consecutive year. The ombudsman’s annual review of consumer complaints, published today, reported 8,200 received complaints in 2016, down from 19,634 in 2013; a drop of 58% over three years.1 Many of the complaints received were about claims …

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Match Factor: Smarter Credit Comparison

I’m excited to be able to announce a first for the credit industry: intelligent search results ranking for credit products. TotallyMoney.com Match Factor performs a series of complex calculations and analyses of eligibility; APR and other product features; lender acceptance data; and usability and user experience insights. These algorithms are personalised to reveal the best …

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Closing the perception gap

As part of our ongoing efforts to understand consumer needs and make the world of credit a fairer place, we conducted a survey that found only one per cent of the population knew how long it would take to pay off £2,000 in credit card debt by making the minimum repayments each month. In order …

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Google compare? Is it fair?

Google avoids legal censure in the US for monopolistic abuse: but is the FTC right? Here’s the inside track from the UK. Yesterday the Federal Trade Commission (FTC) announced that it would not be taking legal action against Google for monopolistic abuses provided that Google changed some of its business practices relating to mobile patents. Interestingly, …

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Is the tech sector running scared of Google?

Last week, Google’s settlement offer to the EU Competition Commission was revealed. Predictably, the offer was pretty half-hearted. But the UK online comparison industry, which will be heavily affected, has so far remained publicly silent. Google was hoping to address the EU’s concerns that its promotion of its own vertical search services is anti-competitive (amongst …

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The credit card innovation that’s going to decimate payday

Can I be the first to say that there’s an innovation coming in credit cards that’s going to take huge chunks out of the payday market? Payday’s growth has been astonishing in speed and scale. The credit crunch and recession that followed left an enormous, underserved gap in the loans market beneath the high street …

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Britain’s billion pound tech success

Congratulations to MoneySupermarket.com. Our biggest competitor became a billion pound company for the first time this week as its share price climbed to an all-time high of £1.92. Moneysupermarket is a brilliant business and an enormous force for good. They claim to have saved consumers billions; I think that’s true: they’ve disrupted nearly every market vertical they’ve touched. They …

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Help Consumers? Ignore the Law

This is a curious case about the credit regulations that even the Regulator appears to dislike. MoneySavingExpert.com (MSE) is one of the most trusted and influential consumer finance websites in part because they explain things simply. In the interests of clarity MSE pretty much ignores the consumer credit advertising regulations and the regulator doesn’t seem …

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