Tesco Bank customers with its credit building Foundation Credit Card are to receive free access to their credit score and be alerted every time there is a change to their credit report.
The service is free for 3 years and is available to the Bank’s existing Foundation Credit Card customers immediately and to new card customers from 11th December.
This is a responsible move from Tesco Bank and it would be good to see this adopted as the norm rather than the exception by all personal finance providers.
It’s important that people are encouraged to understand and take control of their credit record – by seeing their score increase it encourages people to manage their money more responsibility.
Not having to pay for their credit report will be a major plus point for many people – particularly those already managing on a tight budget as it will enable them to keep an even closer eye on their finances
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