Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Equifaxs new TIP Scores aid card marketing
ATLANTA (7/19/12)--Equifax has introduced a product that allows credit card issuers to identify prospective consumers with a higher propensity to borrow and repay.

Equifax's TIP Scores provide predictive analytics that allow card issuers the ability to better tailor their marketing campaigns and more precisely target members and customers.

With TIP Scores, card issuers can pre-screen more consumers for pre-approved offers. By leveraging Equifax's credit file information, TIP Scores allow lenders to better market to consumers using pre-determined identifiers that measure borrowing propensity and delinquency likelihood at any given time, the company said. The indicators assign consumers a digitized score, with a higher number indicating a borrower's increased likelihood to both accept an offer and open an account.

The latest card data from Equifax's National Consumer Credit Trends Report indicates 9.2 million new bank cards were originated from January to March, representing an increase of 27% over January-March 2010 totals. The data suggest sustained growth in new card originations and credit limit during the past 12 to 24 months, supporting the assertion that card issuers are actively growing their portfolios, Equifax said.

"As the economy continues to recover and U.S. consumers' debt position improves, card issuers are now beginning to ramp up their direct marketing efforts," said Scott Waid, Equifax's senior vice president of product innovation and management. "However, issuers are monitoring the return on investment of their marketing budgets much more closely than they had pre-recession. TIP Scores provide the most direct route to help card issuers achieve their marketing goals by more clearly identifying and targeting those select consumers with the highest true propensity to accept their offer."


RSS





print
News Now LiveWire
Watching #SuperBowlXLIX this Sunday? Look for regional #creditunion #commercials @CltMetroCU @BECU @golden1cu #Seahawks #Patriots
11 hours ago
Philadelphia's American Bakery Workers FCU liquidated by @TheNCUA; @trumarkonline assumes shares
11 hours ago
More branch shutterings by @Citi: 4th-largest bank to close 10% of #Chicago area branches HT @CrainsChicago http://t.co/2vAvgucLY5
12 hours ago
56% struggle with subprime credit scores says @cfed survey HT @washingtonpost http://t.co/RHmMvuhNtw
13 hours ago
How to use social media for crisis communications Feb. 10 webinar from @SBAgov, @AgilityRecovery http://t.co/d16t8RHr7n
13 hours ago