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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. How are you protecting your portfolio against rising […]
Want to experience the cost savings and innovation of the VantageScore credit model but unsure of its adoption in the market? Recent data helps answer that question. In 2023, VantageScore usage increased by 42% to a record volume of more than 27 billion credit scores. More than 3,400 unique banks, lenders, and other institutions used VantageScore last year, […]
You’ve heard us talk about the benefits of VantageScore: affordability, performance, inclusivity, consistency, and transparency. But why not find out for yourself? If you’re wondering how your current score compares to VantageScore, consider running a portfolio review with both score models. That way, you’ll get both scores for each of your consumers at the same […]
Looking for a more affordable scoring model? One that reflects today’s economic realities? Created in 2006, VantageScore is now in its fourth iteration, which has been fine-tuned to the current credit landscape. Not only is it more accurate, but it’s also priced well below competing scoring models! More predictive. More inclusive. More affordable. VantageScore scores 33 million […]
Looking for ways to add value to your business before closing this year’s books? An Equifax Portfolio Review is the perfect way to maximize any remaining funds in your 2023 budget. What is a portfolio review? A portfolio review proactively screens the accounts in your portfolio against criteria that you select. This powerful tool can quickly provide […]
An increasing number of consumers are facing credit and financial stressors. What economic factors are causing this in your portfolio? For the past couple of years, consumer spending has been consistently healthy, but now retail reports are illustrating a shift in consumer spending, focusing more on essentials than on luxury items. Economic data shows that […]
The credit landscape is constantly changing. Rising inflation, student debt repayment, and credit file and score model changes all affect who and how you lend money. But there’s good news. You can upgrade your FICO® credit score model at no additional charge! This will help you stay ahead of potential risk and competition who may […]
Source: The student loan crisis white paper, Shur℠, Equifax, and VantageScore®, July 2022. What will be the day-to-day impact on student loan borrowers in your portfolio? Do you know the balance of your consumers’ outstanding student loans? If not, you could—and should—find out. After more than a three-year pause, student loan repayment will soon restart. […]
Sources: Equifax analysis; CNBC, July 13, 2022, and U.S. Bureau of Labor Statistics Price Index Summary;and “The student loan crisis” white paper, Shur, Equifax, and VantageScore®, July 2022. In uncertain times, businesses are inclined to pause certain business operations and may fail to uncover hidden risks while waiting for the perfect conditions to emerge. But you […]
Did you know that 9% of households hold over 60% of all deposits across the country?* Growing and protecting deposits are top of mind for many financial institutions right now. Consumers are evaluating the best alternatives for their deposit dollars, and firms are shoring up liquidity in the face of possible future defaults. That’s why […]
