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Block grows portal with LendingTree features

Tax preparer gains credit scores and financial health dashboard

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H&R Block's MyBlock customers can now avail themselves of LendingTree services. H&R Block's MyBlock customers can now avail themselves of LendingTree services.

H&R Block’s MyBlock accounts, which let the company’s clients access and add to tax documents and personal information on a secure portal year round at no charge, will now offer additional information and features.

The company announced today that it is partnering with online lending platform LendingTree to give Block clients access to their credit score, as well as additional information relating to consumers’ financial health, including online courses developed for the LendingTree Academy.

The tax services company already was involved in providing financial education. Heather Watts, senior vice-president and general manager of digital at H&R Block, said in a statement that the company assists taxpayers throughout the year with understanding the tax impacts of various life events—marriage, having a baby, and starting a business, for example.

Access to dashboard

“Our partnership with LendingTree to provide an easy way for our clients to have access to their updated credit score every month is a great next step in our efforts to promote financial literacy,” said Watts.

The credit score LendingTree uses is VantageScore 3.0.

LendingTree also provides its users—and now H&R Block clients—a personalized dashboard—My LendingTree—providing information on existing loans and credit cards, from any financial institution, as a means to track financial health. The dashboard provides information on factors impacting credit scores, along with suggestions for credit improvement. It also sends notifications about savings opportunities, according to the announcement. Block customers will use their MyBlock account credentials to enter LendingTree.

LendingTree CEO and founder Doug Lebda said he was “excited to provide even more consumers with powerful information related to their credit and financial health through our platform.”

No financial arrangement between the two companies was mentioned in the announcement and a Block spokeswoman said the firm doesn’t issue financial details on individual partnerships.

Said Watts about the arrangement: “Receiving their tax refund is the biggest financial transaction many people have all year. With the insight from My LendingTree, some clients could discover how they can use that money to decrease their debt, thereby taking steps to improve their financial outlook.”

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