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Equifax Product Predicts Credit Risk
ATLANTA (8/23/13)--Equifax has released a product that delivers a more in-depth picture of past credit behavior to better predict future credit trends.

By using Equifax Dimensions, lenders can see up to two years of detailed consumer credit activity, which allows them to make more precise and profitable lending decisions, the company said.

Equifax Dimensions analyzes hundreds of detailed payment characteristics to identify consumer patterns by industry and account type. Clients can access 24 months of consumer balance, payment and credit use data to differentiate behaviors and for better insight to consumers' decisions.

Equifax Dimensions allows lenders to:
  • Identify which consumers are most likely to open accounts;
  • Predict how much and where consumers are likely to spend;
  • Create an indicator for credit line increases and the likelihood for staying current on payments following an increase;
  • Determine ratio of spending against certain factors, such as balance or payment;
  • Identify propensity of a consumer to accept a balance transfer;
  • Predict capacity to incur additional debt while staying current;
  • Determine "breaking point" of spending that will lead to default; and
  • Evaluate credit risk to better pre-empt default and/or bankruptcy.


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