Credit Utilization Monitor

Feedback & Ideas
1

(maybe this has already been suggested? sorry if it has)

I don’t know how much of your credit card information Emma access to so I don’t know if this can necessarily work, but it would be really cool if Emma monitored credit utilization of all credit cards since it’s kind of like a hub for all your cards and expenses. If it is indeed possible that Emma has access to your credit limit, it can calculate 30% of your total limit for credit utilization purposes and let you know if you have reached/exceeded the amount you should use on your card. Here’s a little visual of what I imagine (but of course any way this feature is possible will work)

                                August 2019

.$1000 (Total limit) ------------------------------------------------------------------------------------------
.
.
.
.
.
.
. $300 (Recommended spending amount) ----------------------------------------------------------

.
$150 (Current amount spent)-----------------------------------------------------------------------------

.$0---------------------------------------------------------------------------------------------------------------

     (Be careful! you're halfway through your recommended spending amount)

If this was a feature, it would reeeaalllyy help with monitoring credit scores, especially for people who have a low credit limit and can reach high utilization easily.

3 Likes
2

Hey @kamsi27, thanks for sharing on the forum!

I think this is a great idea and we have been just building something similar. :wink:

We are adding a card in the weekly reports that check the credit utilisation and tells people to slow down, so the credit score doesn’t get an impact.

ps: I think an addition to this it would be a proper notification.

2 Likes
3

Did this feature ever happen?

Even if you can’t automatically read the credit limit from Open Banking, having the ability to manually set your credit limit per card (and then see a utilisation percentage and/or progress bar) would be a great QoL mini-feature!

3 Likes
4

To be honest, we have this in the weekly/monthly reports, but it’s not visible across the app. We should make it.

2 Likes
5

Thanks for bringing this back up we’ll look into how to make it more visible in the app!

2 Likes