Credit card delinquencies are on the rise!

There’s no tiptoeing around it: Credit card delinquencies are the worst on record, according to recent Fed data. Almost 3.5% of card balances were at least 30 days past due as of the end of December. That’s the highest figure since the Fed starting tracking the data in 2012.

Equifax offers a simple, inexpensive way to find out which of your consumers might be headed for trouble. Portfolio monitoring cuts through the clutter and singles out the consumers who need your immediate attention. You can track customized criteria on a schedule that makes sense for your business, whether weekly or monthly.

You determine the criteria. You determine the schedule. You’re only charged for the results, and you can suppress consumers that appear multiple times.

Ways to leverage portfolio monitoring:

  • Find out which consumers are maxed out on their credit cards and bump them up in your call queue to be sure you’re the first to get paid.
  • Stay ahead of concerns on your unsecured portfolio by identifying those who are 60+ days late on other accounts, those who are deceased, and more.
  • Track consumers with HELOCs and adjust credit lines as needed.
  • Preventing the losses from one charge-off could pay for a year’s worth of monitoring!

We know you want to keep up with changes in the market, and portfolio monitoring is an efficient, affordable way to to just that. Let’s discuss how you can leverage this important loss-prevention solution.