Meet your Credit Assistant — brand new and exclusive to the TotallyMoney app

Earlier in the year, I spoke about how TotallyMoney would be launching more features in 2020 to further cement our position as the go-to free credit report that many of our customers rely on. This was back when the coronavirus pandemic was still in its infancy in the UK, and very little was known about what was to come.

Given everything that’s happened and continues to happen, our mission — to improve the UK’s credit score and help everyone move on up to a better financial future — is now more important than ever. That’s why I’m happy to announce that TotallyMoney has launched the brand-new and app-exclusive Credit Assistant.

Unlike other companies that offer a credit report, we’re taking things that much further by making financial data work for our customers. Our customers sit at the heart of everything we do, and it’s our commitment to interpreting their data in a way that’s meaningful for them that makes our service one of a kind. We launched Credit Report Analysis in 2019 to tell our customers why their score is what it is, and how to improve it; we created a next-generation energy-switching service in early 2020 to tell our customers their best switching options, to prevent them from paying more than they need to; and now, Credit Assistant is here to reveal their borrowing blind spots — the credit usage patterns and behaviours they never knew they had — and tell them what’s good, and what’s not.

Getting totally money confident

Credit Assistant gives our customers a clear picture of how they use credit, what their latest activity means for their borrowing, and reveals if the types of credit they’re using and their borrowing habits could be costing them more in their day-to-day expenses. With this knowledge, customers can make better borrowing decisions by avoiding high-cost lending practices and finding products that are better suited to their needs. Credit Assistant also keeps track of how customers have used credit and how this has changed over time.

All this arms our customers with everything they need to make financial decisions with complete confidence — something that couldn’t be more valuable right now. The coronavirus pandemic has created a fall in household income for many, and with more than 1 in 5 already spending more than 10% of their earnings repaying unsecured debt, the launch of Credit Assistant couldn’t come at a better time. It means customers can use it to make what is a very hard time that little bit easier to navigate.

This feat, to me, is even more impressive given that it comes at a time when the TotallyMoney team is working from home. The result is testimony to the amazing work and team we have. Thank you to everyone who helped make this happen.