Totally Money

My review of Totally Money and their free Credit Report and Score service.

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Looking for a way to view your TransUnion Credit report and score for free?

Why wouldn’t you be?

Keeping track of your credit report is a great habit to get in to, both for security and as a way to track changes on your report.

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What is Totally money?

www.totallymoney.com homepage
Totally Money homepage

Totally Money is a service which lets you check your Credit Score and Credit Report for FREE.

If you are based in the UK then you may be aware that there are 3 different Credit Reference agencies at play.

These are:

Totally money allows you to take a look at your TransUnion Credit Report and Score.

If you’re not sure why you should do this or why you should even care, check out my other article where we talk about exactly that.

Totally Money makes it easy for you to track your score and report by enabling you to either view it online or via there App.

They have been voted the Best Credit Report Provider for 2018 and 2019, receiving a double gold award from Moneynet.co.uk.

Award for best credit report provider
Double Gold award for Best Credit Report Provider from Moneynet.co.uk

The fact that Totally Money provides you with a free Credit Report and Score, AND that your score is updated live is one of the things that sets it apart from the other platforms.

Alternate Credit Report platforms may give you access to your free Credit Score and report; however, this is generally updated once a month.

Having your Credit Score updated live means you can keep track of your credit a lot better.

Live updates make it easier for you to understand what is affecting your score and what you can put in place to help improve it.

If you haven’t read it yet, you can find my article on how to improve your Credit Score here

Should be enough said I feel, but let’s go through the process and show you what you can do on this site.

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Signing up

First things first you need to sign up to use this service.

A nice easy and straight forward process. It will only take you a couple of minutes and then you’re in, for life.

Signup form for name and date of birth
STEP 1

Step 2 is your address details.

Current address, obviously.

This is so they can track you down and ensure they have the right person.

Employment details
STEP 3

The first step is to provide all of the usual information you would when signing up to any website.

First name

Last name

DOB

Address details
STEP 2

Step 3 is your employment details.

You will also be asked if you are interested in any cashback advances, in the event of taking out a Credit Card.

The last step of the sign-up process is to create a username and a password.

Create your account.
Choose a username and password.
STEP 4

Viewing your score

Once you’ve created your account you can sign in, either via the website or app.

You will be greeted with your score, you can’t miss it, it’s front and center in the screen with any recent changes being shown in a small dialog box off to the side.

example of the totally money credit score
Totally Money credit score

From here, you can either scroll down and take a look at your Credit Report or see the best deals that have been identified for you.

Viewing your report

If you select the ‘See REPORT & ANALYSIS’ button, you will be taken to a new screen showing your report.

Totally Money credit report and analysis
Credit Report & Analysis

There is a lot of information here so let’s go through it in order.

Credit Report front Page

The front page of your report shows you some basic analysis of factors that could be affecting your score.

This analysis spans the last 6 years and covers the following:

  • Payment history
  • Credit usage
  • Account activity.

Your payment history   

Payment history shown on the front page of your credit report
Payment History

Analysis of your payment history is exactly as it sounds. This shows any missed payments that you have had over the last 6 years along with which accounts it relates to.

A small yet powerful feature, this can assist you in identifying the accounts which are having a massive impact on your credit score. You may also find accounts on here that you have forgotten about so keep an eye on it.

Credit Usage

Credit Utilisation shown on front page of your credit report.
Credit Utilisation. Try to remain under 25%

The Credit usage section shows you how many times you’ve used over 25% of the credit available to you. 25% is generally regarded as the ceiling for credit utilization (Credit utilization is explained in my article your-credit-score-and-14-ways-to-improve-it-today) if you are trying to maintain or improve your credit score.

Off to the right of this, Totally Money again show you which accounts are affected so make sure you check and track your spending on those accounts.

Account History

showing account activity over the past 6 years, including opened / closed accounts.
Account activity over the past 6 years.

This simply shows you how many accounts you have opened/closed within the last 6 years.

Although this generally only has a low impact on your score, opening too many new accounts within a small amount of time will hurt your credit and make you less appealing to lenders.

So that’s your analysis page.

You can see that although this is only a few rows of information, they have managed to get a lot of the really important stuff on to one page without making it hard to read. This, in my opinion, is one of the most useful pages on the site.

Moving forward to the rest of your report, it carries on in a very similar way.

The report is organized into 5 different headings:

The heading you will be given when opening your credit report.
Credit report headings on Totally Money

Score History

Score history shows you exactly that, the history of your score going back to the day that you registered for Totally Money.

This shows you your daily scores, whether they went up or down and how it differed from the previous month.

It takes a few months to get enough history to really make use of this feature but if you have just noticed a sharp decline in your credit score, using this may well help you identify when it happened.

If you can find out when it happened, you should be able to track down what caused it.

Maybe it was an unpaid bill or a newly signed car finance contract?

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Accounts

The accounts section of your credit report is potentially a massive area, and one that you should take some time to ensure is correct.

Totally Money does a great job here of breaking it down into Credit cards, Loans, Current accounts, Telecommunications accounts and more.

This is a great way of viewing and organizing the accounts as you can see everything in one place.

Delving deeper into any one specific account will show you when it was opened, what the limit is, what the current balance is along with the overall trend (is the balance going up or down, is it erratic, etc).

At the bottom of the Accounts tab, you will see a list of your closed accounts. This is great if you are reducing your credit or closing old accounts.

Having all of your old accounts listed in one place again just makes it easy for you to keep track and confirm that old accounts have been closed, never to bother your credit score again.

Profile

The profile tab takes a look at you and your personal details.

From your name and current address, to when and where you last registered on the electoral register (if you haven’t done this, then do it now. It’s a massive factor towards your score).

Viewing your profile will also show you your address history, financial connections and any possible name variations that are registered on your report.

Searches

The Searches tab lists all hard and soft searches that have been carried out on your credit file.

This is normally due to credit applications but can include quotation searches so it is good to keep an eye on.

Totally Money provides you with all the information you need to be able to understand what these searches are and what they mean.

Soft Searches

As a general rule, you shouldn’t have to worry about soft searches.

Soft searches do not affect your credit score and so do not influence lenders decisions.

Hard searches, however, do.

Hard Searches

Too many hard searches, generally caused by applications, can make it more difficult for you to get credit in the future.

If you are looking for credit and have made a few applications recently, it is highly advisable to take a break before making any new applications.

If feasible, try to refrain from making any further applications for a few months or until your credit score has recovered. If you continue to make applications within a small amount of time, your credit score will take a dive and take a lot longer to recover.

Rulings

The last tab on your report is the Rulings tab.

Chances are, anything that shows up on here is not going to be a surprise.

This tab covers any information held about you reference the following:

  • Bankruptcies &Insolvencies
    • Will show on your report for a minimum of six years.
  • Judgments
    • Any County Court Judgements (CCJs) will show here.
  • Cifas
    • If you have taken out the Protective Registration with CIFAS or any of their partner sites and have been a victim of fraud, it will appear here.

Keep an eye on it as with everything else.

Totally money offers and borrowing power

Once you’ve finished with your report, the last place to visit is the Offers sections.

In this section, Totally Money provides you with a detailed breakdown of all the offers you may be eligible for based on your borrowing power.

graphic from totally money showing borrowing power.
Your borrowing power is shown visually

Totally Money is the only site (to my knowledge), who shows you a graphic dictating how appealing you are to lenders.

Borrowing power is based on a wide range of criteria, including those on your credit report and a number of factors which are not.

Using this score, you will find deals on balance transfer cards, credit builder cards, loans, and mortgages.

Totally Money finds these offers by performing a soft credit search on your credit file. As we mentioned earlier in the searches tab of your report, this has no impact on your credit score.

Graphic showing all possible offers available to you at this time.
Offers section of Totally Money

The way that they show you offers, along with a description of what it is best for i.e balance transfers, Cashback or low APR, makes it very easy to find what you are looking for.

If you are shopping around for a deal, this is a great place to start.

Once you identify the type of product you want, and if Totally Money thinks they have found you an offer, just click on the link to view the offer and you’re away.

Job done.

How is it different from other Credit Report Providers?

With so many different providers who will give you access to your free credit report and score, it can be difficult to choose the right one for you.

Totally Money is different from the rest in so much as they update your Credit Score live.

They are also 100% free, always. There are no paid services you can opt into on this platform, all of the information we have mentioned is available all of the time, for free.

Along with a very intuitive and easy to use site, that makes them my go-to site for checking my TransUnion Credit Score.

Obviously, they can’t do everything and in future posts, we will go over different platforms you can use to check both your Experian and your Equifax reports.

Final Verdict

Totally Money is an excellent site for checking your TransUnion free credit report and score.

Although there are other platforms which allow you to check the same report, for the time being, Totally Money has the crown as far as I’m concerned.

Given that they have won the double gold award for Best Credit Report Provider 2 years in a row, I would say that a lot of people agree.

If you haven’t already got an account with them then get one, I really cannot recommend them enough.

Hey, it’s free, can’t ask for more than that.

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