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

Announcing our very first bitcoin contest winner

Congratulations to the very first winner of our bitcoin contest! Amy S. from Edmonton, AB was the lucky MogoMember who took home the prize of one bitcoin, worth a whopping $18,500 CAD at the time of the draw. What a great way to celebrate our upcoming bitcoin account with our members through this contest. You could win bitcoins too One down, three more to go. If you didn’t win this time, don’t worry. We have 3 more bitcoins up for grabs! If you're already a MogoMember, great news—you’re already entered into the next 3 bitcoin draws. If you’re not a MogoMember yet, time to sign up for a free MogoAccount. It only takes 3 minutes. It’s that simple! The deadline for our next draw is on January 31st, 2017. Earn more chances to win If you haven’t already, just download the MogoApp for another entry. You can also sign up for MogoProtect to help protect you against identity fraud and get 5 extra entries1. That means you could earn up to 7 entries, just like that! Got more questions about our contest? You’ll find some answers to common questions here. See

Thank you for 500,000!

We’ve given 500,000 Canadians the ability to rule their finances from wherever they are, and we ain’t stopping. Thank you for being one of the 500,000 Canadians who choose Mogo. Half a million members have joined us on a journey towards financial health, starting with Canada’s only free credit score monitoring service that’s available through a mobile app. Beyond that, you’re using the MogoCard to manage your spending and save more; our personal loans to get out of debt faster and more easily; our smart and simple mortgage experience to get mortgage-free faster. Because we never stop paying attention and listening to you, our MogoMembers, we never stop learning. We never stop growing. We’ve built our financial products to empower, not confine. In a world dominated by big banks, archaic processes and hidden fees, our fully online platform and streamlined digital banking experience delights, not exasperates. We’re fanatical about helping you take control of your financial health. As a finance technology company, we focus on empowering Canadians to better their financial health with solutions that are simple, easy to use and unconventionally fun. When we say fanatical, we mean we’re