Announcing #MogoMonday: a chance at $1,000!

To celebrate reaching over 900,000 MogoMembers, we’re excited to kick off the #MogoMonday money contest — giving our Members a whole bunch of prizes worth up to $1,000 every two weeks!1 Every second Monday starting September 23, we’ll randomly select #MogoMonday winners from all participating Members. Wondering how to participate? It’s very, very easy. Maybe too easy: Have the Mogo app downloaded Apple users: make sure push notifications are turned on in the Mogo app. Android users: go to your phone settings (not your Mogo app settings) to check that push notifications from Mogo are active. Log in to the main dashboard of the Mogo app after the contest start date of September 11 Watch for a “winning” notification then take a screenshot of it Seriously, that’s all it takes to participate in every #MogoMonday! It’s all about celebrating you guys, our Members, with an easy-to-enter chance at 7 prizes every 2 weeks, ranging from $100 up to $1000. So, what happens if you win? Keep in mind, if you are selected as a winner, you’ll need to take a few steps within a 3-day time window in order to receive your

Guess what? We reached 900,000 Members!

If you’re a MogoMember, thank you for being one of the 900,000 Canadians who’ve chosen Mogo to help get better control over your finances. 🎉🎉 Just so you know, we aren’t even close to slowing down. We’ve got BIG things coming, including an exciting new experience on the Mogo app and a ton of educational content to help you get debt-free faster, invest wisely, spend less, and much more! Thanks again — can’t wait to celebrate the 1,000,000th Member!

MogoMoney update: an even smoother app experience

Another day, another update. We’re excited to share some important improvements made to the MogoLiquid experience for all pre-approved customers. With every product update we make, there’s really only one big question we focus on: does this create a faster, easier, and more seamless experience for our customers? We’re always aiming to answer this question and it’s what you should expect with any further updates down the road. But for now, let’s get into what’s included in the upcoming enhancements made to MogoLiquid: Improved in-app loan customization We’ve made it a lot easier for MogoLiquid customers to provide their information and customize their loan amount. Now a fully in-app experience, users can pick the exact amount they want, pick the date of their first payment, and more. Clear status updates Users will instantly receive a push notification, email, and in-app status change at each stage of loan progress. No need to wonder what’s going on with your application or whether your latest status is fully up-to-date. Faster application processing We’ve improved clarity, efficiency, and flow of our online application for members, so now it should only take minutes to complete — meaning

MogoMoney update: on-time payments now help work towards improving your credit

With our mission to empower our members to reach their financial best, we believe those who borrow responsibly should get rewarded. Starting this month, we’ll be reporting MogoLiquid loan payment history to Equifax, one of the two credit bureaus in Canada. That means if you have a MogoLiquid loan and you are making on-time payments, you could see improvement to your credit score. But if you’re missing payments, those little slips can hurt your credit. It’s all about staying responsible with your finances. This update may help our users improve their financial health even when borrowing — which is especially important for those new to Canada or new to credit in general. Paying back your MogoLiquid loan on time will now help build out what might otherwise be considered a thin credit file. With improved credit, you have proof that you’re someone who can manage credit responsibly, which may help you receive better financial treatment down the road, whether you’re trying to get a mortgage, car finance options, even renting a new place. If you currently have a MogoLiquid loan, going forward there’s nothing you need to do to have your payment history shared with

3 ways to improve credit score

Your credit score affects you more than you think — especially when it's time to get approved on exciting life milestones, like buying a car or home. Lenders look at your score to determine your creditworthiness, or how good you are at handling your financial obligations. It’s how they determine how big a mortgage or loan (or how high a credit card limit) to offer you and at what interest rate. Having a low score could result in getting approved at higher interest rates — or even being declined. Many landlords look at your score when considering renting to you, and some employers are even requesting info on your credit score before making you a job offer. A few different factors make up your score, with payment history, utilization ratio, and length of credit topping the list, followed by types of credit and inquiries. Whether your score is stellar or needs some TLC, there are some easy ways to improve it and ultimately rule it. Here are 3 ways to get you started: Nail your utilization ratio Your utilization ratio is how much of your available credit you’re using, or your level of indebtedness. For example, if your credit card