These terms are for the free version of credit insights. There's also an advanced version. You can get this by upgrading your Monzo account to some of our subscription plans, you can find more information in the app.
What is free credit insights?
Credit insights provided through Monzo Bank Limited (“Monzo”) lets you see your TransUnion score, some summarised information from your credit report and factors that impact how TransUnion calculate your credit score (“credit information”). We may also show your full credit report if it is provided by TransUnion.
You must be over 18 and live in the UK, Channel Islands or the Isle of Man to use credit insights.
This credit information comes from TransUnion
There are currently 3 main credit reference agencies which provide credit information in the UK: Equifax, TransUnion and Experian. The credit information you see in credit insights comes only from TransUnion International UK Limited (“TransUnion”). You acknowledge and agree that all intellectual property rights in credit insights (and all aspects of it) provided by TransUnion is owned by TransUnion and/or its licensors.
TransUnion can’t guarantee to find your credit information
Before TransUnion can give us your credit information it’ll try to match you to the information they hold. It won’t be able to find everyone’s information, and neither we or TransUnion have to tell you why, if this happens. It might be because TransUnion can’t match your personal information to what’s in its database.
Credit insights is for your own personal use
You must not use it for business purposes or to get information about anyone else.
TransUnion can’t guarantee the credit information they show is accurate
TransUnion will try to make sure the credit information it shows you is accurate. But it can’t guarantee that since some of the information comes from other sources, like the electoral roll, insurance companies and financial institutions.
TransUnion, or any other sources it uses to give credit information does not have any control over the content of that information, and isn’t responsible if it turns out to be inaccurate. You should raise a dispute using the following website if you have any concern that your information isn’t accurate:
Your TransUnion score is just one of the factors lenders could take into account
The credit information displayed in credit insights is for your guidance and information only. Having a good TransUnion credit score doesn’t mean that we, or any other lender, will definitely accept an application for credit from you. Any application will always be subject to a lender’s own acceptance criteria. Also, a credit score doesn’t take into account someone’s ability to pay, which lenders and other financial service providers also consider.
Only you are allowed to access your credit insights
You must not let anyone else have access to your credit insights or your Monzo account. Contact us immediately if you believe there’s a security issue with your account.
We have the right to stop you using credit insights
We and TransUnion reserve the right to stop or suspend your access to your credit insights at any time if we tell you we no longer provide you with credit insights, or if we think:
there has been or is likely to be a breach of security
you’re using the credit insights in a fraudulent or unpermitted way
you’re using the credit insights in any way that’s detrimental to us or TransUnion.
We may also introduce, remove or change credit insights.
Using credit insights will leave ‘soft’ searches on your credit report
Once you’ve started using credit insights, TransUnion will leave a soft search on your credit report every 31 days until you stop tracking your credit score in the app. You’ll be able to see these searches on your full credit report, but lenders won’t. It won’t have any impact on your credit score or how likely you are to be offered credit.
If you have any questions about credit insights, please contact us. If we can’t help, or if it’s to do with information that TransUnion holds, we may ask you to contact TransUnion.
Accessing your data
When you let us know that you’d like to use credit insights, you’re asking us to make a ‘data subject access request’ on your behalf to TransUnion under Article 15 of the General Data Protection Regulation (GDPR). This means you’re asking TransUnion to show the credit score it’s given you and some summarised information from your credit report and factors that impact how TransUnion calculate your credit score in the Monzo app.
We’ll do this monthly until you tell us you don’t want to use it again. We will also request your full credit report from TransUnion on your behalf.
To learn more about how we use your data for credit insights, please see our Privacy Notice.
Credit information is provided by:
TransUnion International UK Limited. Registered in England and Wales with company number: 3961870. Registered office: One Park Lane, Leeds, West Yorkshire, LS3 1EP. TransUnion International UK Limited, part of the TransUnion Information Group, is authorised and regulated by the Financial Conduct Authority under registration number 737740
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