Today, Monday 5th November, it has been announced that our parent company TransUnion (formerly Callcredit) has agreed to sell Noddle to one of its longstanding global partners, Credit Karma.
Whilst new to the UK, Credit Karma is a well-established company that provides free credit scores and reports, financial tools and credit education to over 85 million members in the US and Canada. Credit Karma offered the first free credit score in the US in 2008 and similarly to Noddle, aims to make peoples’ finances simpler to understand and easier to manage. Credit Karma will enter the UK market through this purchase, subject to the approval of the Financial Conduct Authority (FCA).
If you are a Noddle customer – or just interested in this news – read on to find out more. We’ll update this blog as we have more information, so we can keep you posted as things progress.
Why are Credit Karma buying Noddle?
Credit Karma has had a strong partnership with TransUnion for more than a decade and sees Noddle as the ideal partner to help expand its reach into the UK and further its mission of championing financial progress for all. The services Credit Karma and Noddle provide are very similar, so this is a good fit for everyone, including, and most importantly, consumers.
Our existing parent company, TransUnion, will continue to provide credit score and report data to Noddle and share in its future success.
What it means to customers?
It is all good news! Customers can be assured of a continued free service with the same great benefits from Noddle. You will carry on receiving your score and report for free from TransUnion (formerly Callcredit) and there are no changes to the setup of your account or the way we handle, store and manage your personal information.
On completion of the sale:
- Credit Karma will take ownership of Noddle and plans to invest significantly to make it even better for users. Customers will continue to get their report and score free for life but they will also get access to a range of new free services to help monitor and improve their credit, as well as improved services to help them find the financial products best suited to their individual needs.
- Customer information will remain in the same place in the UK and continue to be stored according to UK and EU data regulation and data protection rules. We will always take the security of our customers’ information very seriously and will never use it for anything that we don’t have their permission for.
- Customer service will remain in the UK.
What happens next?
There will now be an interim period as we await the FCA approval of the sale.
In the meantime we will remain focused on our mission to empower our customers with free information to make better financial decisions, and look forward to introducing even better services as part of this exciting next step in our journey.
Got a question?
Customers can email email@example.com with any queries about this news.