State of Credit
The national VantageScore credit score is up by three points, from 666 to 669. Bankcard lending continues to increase, with new bankcards up 7.7%.
41st Parameter
CardWeb.com’s CardData database of Company Profiles today features 41st Parameter.
Sandra Green
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Sandra Green, Head of Sales, EMEA, of Alpha Payment Systems.
Experian Marketing Suite
Experian Marketing Services unveiled a new, more predictive and addressable Experian Marketing Suite. The advancements includes new addressable advertising and predictive intelligence tools both powered by Experian’s consumer database, the largest consumer database worldwide, with modeled insights covering 700 million individuals in 270 households.
Experian’s Survey
Over a quarter (28 per cent) of social housing tenants are missing out on huge savings by using cash to pay for bills, goods and services, rather than direct debit, according to research from Experian.
Thin Credit Files
A new study finds that by including on-time utility payments in credit reports, there was nearly a 50 percent drop in subprime consumers with credit scores between 300 and 600.
Experian Fraud Surveillance
Experian Data Breach Resolution has enhanced its “ProtectMyID” active fraud surveillance and identity theft resolution solution. Partnering BillGuard card fraud monitoring mobile application, Experian makes available the “ProtectMyID” comprehensive solution for protecting exposure of Social Security numbers and payment card numbers. Members of Experian’s ProtectMyID can now download the BillGuard mobile app and access both their ProtectMyID alerts and BillGuard features within the BillGuard mobile app.
Fraud Awareness
Nearly eight out of ten consumers would like to hear from retailers as to how those retailers plan to protect personal and credit card information – before the holiday shopping starts.
State of Credit
Credit scores are up, bankcard lending is on the rise, the average number of bankcards per person is up, retail card lending also is on the upswing, and average debt is up.
Credit Card Spending Limits Highest Since 2008
Experian® today announced an analysis of bankcard trends from the Q3 2013 that showed a 29 percent year-over-year increase in bankcard origination volumes (limits), equating to a $16 billion increase in new bankcard limits issued. The Q3 2013 bankcard origination volume of $73 billion was higher than the conclusion of the 2008 recession, as origination volume in Q4 2008 was $70 billion.
State of Credit Report
As the nation emerges from the recession, which groups of Americans are faring the best when it comes to credit and debt and who is faring the worst? Experian’s Fourth Annual State of Credit study shows that Millennials are facing the biggest challenges when it comes to credit and how they are managing their debt. With the lowest number of bankcards (1.57) of all of the generations and a low total debt of $2,682 on those cards compared with other generations, one would assume that they are managing their debt wisely, but with high utilization1 as compared to their individual credit card limits, average debt2 of $23,332 and high incidences of late payments, it seems this generation is not entering this phase of life with positive credit behavior, which attributes to their low average credit score of 628.
Experian Partners ACI on Analytics
ACI Worldwide partnered Experian Decision Analytics to market Experian’s leading decisioning solutions to ACI customers and prospects. Experian’s analytics-driven decisioning enables effective and targeted customer application processes, robust portfolio management and streamlined collections and recoveries. Credit issuers using ACI Issuer, the company’s platform for issuing and supporting credit cards, paired with Experian’s solutions, benefit from an end-to-end offering that maximizes profitability throughout the life cycle of a consumer’s account.