Callcredit

Callcredit

September 07, 2012 01:00 ET

100,000 Consumers Save a Total of GBP12m a Year by 'Using Their Noddle'

LEEDS, UNITED KINGDOM--(Marketwire - Sept. 7, 2012) - Over 100,000 customers have now signed up for Noddle, the free for life credit report service from Callcredit Information Group, within months of its official launch in April.

By avoiding monthly credit report fees and what can be complicated cancellation processes, those who have already signed up to use Noddle will save on average *£120 each a year which amounts to a staggering £12m already!

Unlike other subscription based services Noddle provides immediate, unlimited access to your credit report 'free for life'. Customers can also see credit card and loan products based on their credit rating and their likelihood of being accepted for each product with Noddle's 'confidence rating'. Customers can see at a glance, on an easy to use summary, if there's something on their credit report that could affect their chances of getting credit. They can check why they may have been declined credit and monitor whether anyone has tried to apply for credit in their name fraudulently. Noddle also helps customers make more of their money with money saving vouchers and offers.

Tom Ilube, Founder of Noddle commented, "We are delighted with the response to Noddle which continues to spread by word of mouth. Around 15,000 customers a month are now signing up to use our 'free for life' credit report, saving anything from £70 to £180 a year by opting for a genuinely free service - so what do our customers actually think?"

"Free credit report monitoring worth a look….stop ID theft, saved me subs to old service of £84 per year - not bad."

"It's great having access to my credit report and credit rating for free. This saves me a lot of hassle as I can now check my credit report whenever I want."

Tom added, "A credit report is like your financial passport. Companies look at your credit report all the time and make decisions about you based on this information, from approving a mortgage application to giving you a mobile phone contract. We believe consumers need to get into the habit of doing the same and think it's only right they have ready access to the personal information these important decisions are based on."

"We want to make sure every adult in the UK has free access to their personal credit report whenever they want it."

Noddle is powered by the same data and technology Callcredit use to streamline credit risk strategies for their business clients.

Noddle has also released a great video explanation of credit reports aimed at explaining what they are about to the man in the street and this can be viewed at www.noddle.co.uk.

Notes to editors:

* This figure is based on the average annual cost across the main monthly subscription services available.

Summary of the results so far:

  • Over 100,000 customers have already signed up and growing rapidly - acquired primarily through word of mouth.
  • 70% of visitors to the site go on to apply for Noddle.
  • Over 50% of customers have set voucher preference or requests.
  • More than one in three customers has set up a financial product request.
  • Customers visit on average 1.2 times per month.
  • E-mail open rate above industry average.

About Callcredit Information Group - www.callcredit.co.uk

Callcredit Information Group's leading approach to deploying consumer information brings together experts across the fields of credit referencing, marketing services, interactive solutions and consultative analytics to provide businesses and consumers with a range of innovative products and services.

In a first for UK consumers, Callcredit recently launched Noddle (www.noddle.co.uk), a service that offers people free access to their personal monthly credit reports for life.

Callcredit's business solutions are designed to help companies discover new customers and improve their engagement with existing customers. Products include award-winning fraud verification tools, consumer marketing data and segmentation to improve customer understanding, global operations to help expand businesses into new markets, and digital / interactive solutions.

Callcredit also offers credit risk and affordability products, bespoke debt recovery and tracing tools, and market analysis and network planning for a range of sectors.

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