No, the information you see about your connected bank account does not directly impact your credit score or report. But, some of the things we highlight in the Monitor feature could have an affect on your credit score.
We receive data from two different companies:
Credit report information comes from TransUnion (the credit reference agency we partner with)
Information about your connected bank account comes from Bud (our open banking partner)
The payment information we receive from TransUnion will appear on your TotallyMoney credit report. The payment information we receive from Bud will appear in the Monitor app feature.
The Monitor feature is not linked to your credit report. That means the information you see here won’t impact your credit score or your Borrowing Power. Only the information on your credit report contributes toward your credit score.
In the Monitor tab we highlight bills from your connected bank account that we believe could impact your credit score. Highlighting these bills won’t impact your credit score but if you miss these payments and this is reported to the credit reference agencies, then it could have a negative impact on your credit score.