Do you know your credit fact from your credit fiction? There’s a lot of information on the internet. But, let’s be real for a moment: sometimes, it’s hard to know if what we’re reading is informational gold or just a pile of poo. Luckily, there’s something other than Wikipedia to help. In this quick quiz, …
Why use a purchase card? Let’s face it: sometimes, we all have things we need to buy. And sometimes, we wonder how we’re going to fund those things. Not many people know it’s these situations where a purchase card could help. Whether your purchase is to sort something like this… Or to get something …
Credit scores and Borrowing Power: how are they different? You might have noticed there are two numbers on your TotallyMoney credit report: your credit score and your Borrowing Power. But what do they mean? And how are they different? We’ve created a quiz to put you to the test. It’s only 10 questions, so why …
Read moreCredit scores and Borrowing Power: how are they different?
There are four main things you should check on your credit report, so here’s a poem about what they are. Why? For fun, and to help you remember. The Credit Report Check Once upon a midnight dreary, you did ponder, weak and weary, Over many an email about your poor score. And so you checked …
Your Credit Score Explained What are the ingredients for the perfect credit score? Until now, what goes into your credit score has been hidden by Credit Reference Agencies, like an old family recipe. What are CRAs, you ask? They’re the folks who get your credit and finance info from lenders. They’re like magpies for credit …
In an attempt to help more people get onto the property ladder, the Government has instituted a series of Help to Buy schemes that can assist first-time buyers with purchasing a home. One of those is the Shared Ownership Scheme – and to help you get an idea of how that works, TotallyMoney have put together this straightforward guide.
If you were hoping to get a definitive answer, we have to let you know that it’s more complicated than that. A number that could seem like a good credit score with one agency might be a poor credit score with another. We’ve done our best to crack the code, so you don’t have to.
In the UK, there’s no such thing as a universal credit score. The three credit reference agencies — Callcredit, Experian, and Equifax — all use different methods to calculate it, which means it will be different with each one. This guide should clear things up.
Understanding different credit terms is sometimes confusing. The important thing to remember is that a credit score is different from a credit rating. In short, a credit rating is an assessment of your creditworthiness; a credit score is a number that reflects this.
What is a credit check? Many throw this term around quite often, but do any of us truly know what it means and what it entails? We know it can be a bit confusing, so read on for an explanation of what a credit check is and much more.
Many people use terms such as “credit data”, “credit file”, “credit report”, and “credit score” interchangeably. While in context most would understand what you mean, they do all mean different things. We’ve prepared this guide to clear up the confusion.
Whether you’re new to credit or simply lost in the sea of information there is on the subject, let’s not pretend understanding it is easy. That’s why we’ve come up with these five credit-improving tips, to set you on your way.
If you haven’t used credit responsibly in the past, your credit score might be a bit out of shape. And if you’re hoping to be accepted for credit in the future, it’s important you think now about how to fix a bad credit score. Here are some tips to help.