Written by Karen Bryan
I read about the Noddle free credit report in the sidebar of the credit card comparison page of the MoneySupermarket site. Although I was pretty certain that my credit score was very good, as I’ve been approved for most credit cards for which I’ve applied, I thought I’d give Noddle a try to see how it works.
You have to give your name, date of birth, address, number of years at that address, email address, phone number (not sure why they need that) and details of a bank or credit card. I must admit I was a bit uneasy about giving my card details for a free service, but it was emphasised that no payment would be taken but this information was required for ID verification.
Noddle can only offer you a free credit report if they can verify your identity online. They don’t clearly explain how they do this; I assume it means that they can check that you are on the Electoral Roll at the address you give and that the card details that you give are genuine.
When you sign up you have the option to untick the boxes about receiving more information from Noddle and their partners.
Obviously Noddle are hoping to make some money from those signing up for the free credit reports. I assume that they earn a commission if you purchase some financial products through the links on their site. When you login your homepage has various credit card and loan options displayed.
You can personalise your search by ticking boxes about which type of product you’re looking for, e.g. cashback credit cards. You also enter your details such as income and then you get a list based on how likely it is that you’ll be accepted for products. I noticed that this list was supplied by MoneySupermarket.
In my search for best reward and cashback credit cards I received a 9 out of 10 likliehood of being accepted for several cards. However one of cards listed, Sainsbury’s Low Rate Credit Card, didn’t have any rewards or cashback. It had a really low interest rate of 6.9% but in my opinion it shouldn’t have been listed, as I’d requested cards with cashback or rewards. The rate of interest charged isn’t relevant to me, as I always pay the full balance monthly by direct debit.
Strangely one of credit cards currently offering a high cashback, Aqua Reward Credit Card with a 3% cashback up to an annual maximum of £100, wasn’t on the list at all. It is touted as a card that, by comparison with other credit cards, is easier to obtain by people with poor or no credit history. However, you’d think that it’d also be easy for me to get with my good credit score rating.
Noddle also displays vouchers and offers on your homepage, which might help you save money when shopping.
In summary, Noddle offer a great free credit report service. Their personalised ratings of financial products for which you are likely to be accepted lessens the risk of you getting black marks on your credit report by failed product applications. However, I’d recommend that you do some further research into which products best suit your requirements.