1st May 2021 | 6 minute read

About the ilumoni app

In the ilumoni app, we use a number of terms and phrases in relation to your borrowing. While we try our best to keep information clear and informative, we know that some things aren’t always easy to understand. In this post, we’ll take a look at the terms we use and exactly what they mean. 

Your borrower status

Your borrower status is the first thing you’ll see in the app, and it provides an overall view of your borrowing and how it’s looking generally. It takes into account your Debt-to-Income ratio, your credit score, how much you owe across the accounts and balances you’ve shared with us, recent borrowing activity and any fees you’ve been paying. 

There are 5 borrower statuses, but you’ll only ever see one relating to you individually. They are:

  1. Your borrowing is looking bright

  2. Your borrowing is on the bright side

  3. Your borrowing is in need of brightening up

  4. Your borrowing has been brighter

  5. Your borrowing is looking a little gloomy

Regardless of the borrowing status you see in the app, it’s personal to you and your circumstances and, where it can be improved, additional information and insights will be provided for you to explore. 

Your credit cards, personal loans and overdrafts

This screen gives you a summary of your unsecured borrowing, telling you how much you owe on each balance. Again, ilumoni can only show you insights into the accounts you share with us, so if something isn’t there, make sure you’ve connected that account. If you think something’s missing still, get in touch with our support team and we’ll do our best to help fix the issue. 

At the moment, the ilumoni app isn’t able to connect specialist lending accounts, such as car finance or store cards, however, we’re working on this and hope to update the app to include this kind of information soon.

Your mortgage and secured loan borrowing

This part of the app works the same as the unsecured section, but instead provides you with an overview of your secured borrowing.

What’s the difference between secured and unsecured borrowing?

Secured borrowing is borrowing secured against an asset you own, like a house. This makes mortgages a form of secured borrowing. There are other items you can borrow against, such as cars for example. With secured lending, you can usually borrow a higher amount and pay a lower interest rate but the risks are higher - if you miss a repayment, the lender could claim the asset you borrowed against. 

Unsecured borrowing doesn’t require an asset to borrow against, so overdrafts, credit cards and personal loans fall under the unsecured category. Interests tend to be higher and, while you’re not going to lose an asset if you fail to repay, lenders can take you to court to try and get their money back. Missing payments can also damage your credit score and affect future borrowing options. 

Money Helper provides further information if you’d like to know more. Visit Money Helper now to read more.


Nudges are a key part of how ilumoni works. There are a number of nudges available at the moment, though we’re working on new nudges all the time, to ensure we’re doing our best to help people borrow well.

All our nudges, regardless of the type, are personalised to you and the goals and priorities you’ve shared with us in the app. They are designed to help you borrow well, aligned to your goals but the decision is completely yours as to whether you want to act on any of the information provided.

Repayment option nudges

These are the most common nudge within the app, and they’re designed to let you know when a change to your repayment amount could save you money or reduce the length of time to clearing the debt. When you click into the nudge, you’ll find more information about the payments you’re making, the time to repay and the impact different changes could have. 

Restructure nudges

The restructure nudge is highlights where you could use your available balances and credit more efficiently in order to reduce the total amount of interest you pay and, consequently, how long it takes to pay off that balance. In super simple terms, we’re talking about balance transfers: transferring balances to lower-cost products where there’s space to do so. You can learn more about restructure nudges here.

Consolidation loan nudges

Consolidation loan nudges highlight where debt consolidation could save you money or reduce your time to repay. They will only ever be shown to you in the app if the following conditions are met:

  1. The app identifies that consolidating debts would reduce the interest you’ll pay overall or help you clear your debts faster.

  2. This action aligns with the goals and priorities you’ve shared with us in the app.

  3. The app can see that you would be able to afford the associated repayments based on your debt-to-income ratio and your rent or mortgage payments.

  4. You are likely to be approved by one of our partner lenders.

As with the repayment nudge, if you click into the nudge you’ll see further information and, in the case of a consolidation loan, be able to select the balances you would be interested in consolidating. You’ll then be shown potential loans which could be of interest to you, along with your likelihood of approval.

At ilumoni, we do not work with payday or other high-interest, short-term lenders nor will your loan options be ranked according to the introduction fee we receive. 

Have a consolidation loan nudge but no offers when you click through?

For a small number of ilumoni users, you may receive a consolidation nudge but no offers from our lenders when you click through. This is because, based on the information you've shared with the app, we believe you will be eligible for a consolidation loan offer. However, until you click through to the nudge, the app isn't able to see what offers you might receive. If you don't receive any offers, this is because you either;

  1. Don't meet the lenders' criteria (they might be able to see more about you than we can), or,

  2. When we are able to see your offers, we can see that taking a consolidation loan offer would cost you a lot more in interest compared with if you were to pay off your credit card based on your current balance and repayments.

Debt advice nudges

For some customers, the app may show a debt advice nudge where that person appears to be struggling with their debt. Read this blog post to find out more about those nudges, and how ilumoni works with those customers more broadly.

Personal loan offers

Personal loan offers are a relatively new feature within the app (introduced in November 2021) and are only available to customers who meet certain conditions and criteria. You can find out everything you need to know about this feature in our guide here, including when the feature is accessible within the app.


Hopefully, the above information has given you a good understanding of how the ilumoni app works to provide you with insights into your borrowing and alternative options to consider. However, it’s important to remember that ilumoni only analyses the accounts you’re able to share within the app, so if you have other borrowing outside of the app, you’ll need to consider those before taking any action.

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