Noddle, a service that allows you to check your credit score for free, will soon be rebranded as 'Credit Karma', following its sale to a huge American technology company. But what changes can existing customers expect to see?
Noddle launched in 2011 as part of Call Credit (which is now called TransUnion), a credit reference agency similar to Experian and Equifax.
Noddle allows you to check your credit score for free, as well as additional services such as 'Noddle Improve', which advises users on how they could improve their credit score for an additional fee.
Noddle's new owner, Credit Karma, is a consumer technology company that offers a range of credit scoring and budgeting tools in the US and Canada.
Here, we explain what the acquisition of Noddle by Credit Karma means for existing Noddle customers.
Founded in 2007, Credit Karma has more than 85 million users in the US and Canada, allowing you to monitor your credit report from TransUnion and Equifax. It also uses data about your credit history to recommend financial products.
If you decide to get one of the recommended products they offer you, Credit Karma makes money from those banks or lenders.
Starting this month all Noddle customers will become Credit Karma members.
There are, however, several changes that Noddle customers will need to look out for. These include:
As part of Credit Karma, you'll get notifications to keep you updated of key changes to your credit report. This aims to help you keep on top of your credit history and identify any errors on your file or areas for improvement.
Credit Karma members will also get access to free resources, including tools and literature, to help them improve their credit scores.
Later in May, Noddle will officially unveil a completely new look. This will include a new website design with new tools and features built-in for customers to use.
If you're an existing Noddle customer, don't worry, you won't need to take any action for the time being.
Noddle users will automatically be moved over to Credit Karma over the next few weeks and you'll get an email inviting you to the new site.
Your login details will be the same as that of your old Noddle account.
As Noddle transitions to Credit Karma, the personal data of its customers will be protected by a robust security program used in the US.
On top of that Noddle has also assured customers that they will 'only process your data in accordance with GDPR.'
It's almost like a financial CV and based on your score, lenders will assess your reliability as a borrower.
Having a poor credit score can dramatically impact your chances of being accepted for these types of products and services so it's really important to keep on top of yours.
You can also watch our short video below for tips on how to improve your credit score today.