Give Yourself Some Credit [Infographic]
Posted on Apr 25 2013 by Michael Delgado
In the spirit of National Financial Literacy Month, freecreditscore.com created this infographic to share some simple credit tips:
Hybrid Vehicles Grow in Popularity and Attract More than just “Green” Consumers
Posted on Apr 22 2013 by Roslyn Whitehurst
When Kermit the frog said, “It’s not that easy being green,” he may not have been referring to the automotive market, but he may have been on to something.
Hybrid/alternative power vehicles are one of the smallest segments in the U.S., and have only just recently achieved a little more than one percent of the total vehicles in operation. However, according to Experian Automotive’s recently released Earth Day report, the segment has witnessed steady market share growth, increasing by 40.9 percent since 2011.
Ford Revved Its Engines and Kept Its Customers Coming Back for More
Posted on Apr 15 2013 by Roslyn Whitehurst
When I think of large, successful companies, a couple of thoughts come to mind; excellent customer service, constant innovation and the unmistakable ability to attract new customers. While each of these is important in its own right, some would argue, the mark of a truly successful company is one that satisfies its existing customers, and keeps them coming back for more.
In our recently released Loyalty and Market Trends Report, we found that Ford did just that, as they passed GM and Toyota to take the top spot in corporate loyalty during Q4 2012. During the time period, 47.9 percent of the customers who owned a Ford vehicle returned to market to buy another Ford or Lincoln.
Experian Executive Honored with Mortgage Banking Magazine’s Tech All-Star Award
Posted on Apr 04 2013 by Michael Troncale
Linda Haran has been selected for her leadership and contributions to the field of mortgage technology by Mortgage Banking Magazine for the development and introduction of Experian’s IntelliViewSM product.
The company’s new interactive, Web-based query, analysis and reporting tool enables financial professionals to optimize strategic planning, uncover new opportunities and improve decision making by having 24-7 online access to Experian’s aggregated quarterly consumer credit data. Data is available for seven lending categories, including bankcard, retail card, automotive, first mortgage, second mortgage, home-equity lines of credit and personal loans.
IntelliView data is sourced from the information that supports the Experian–Oliver Wyman Market Intelligence Reports and is easily accessed through an intuitive, online graphical user interface, which enables financial professionals to extract key findings from the data and integrate them into their business strategies. This unique data asset does this by delivering market intelligence on consumer credit behavior within specific lending categories and geographic regions.
Experian Expands Software-as-a-Service Offering with Acquisition of Decisioning Solutions
Posted on Apr 03 2013 by Michael Troncale
Organizations across a range of industries and geographies are facing an increasingly complex, new business environment. As a result, they have a desire to implement originations and customer acquisition strategies quickly and at low risk.
The acquisition enables Experian to package Decisioning Solutions’ powerful and proven multitenant, multilingual software with its consumer and commercial data, analytical expertise, and identity proofing and authentication technologies, all from a robust and flexible SaaS model. This will allow small, medium and large organizations to make secure, on-demand, analytics-based customer decisions so they can achieve and sustain significant growth.
The Truth About Vehicle History Reports
Posted on Apr 02 2013 by Roslyn Whitehurst
The used car buying process can be as challenging for dealers as it is for consumers. Both parties want to make sure they are getting the best deal on a car that is safe and reliable. But how does anyone really know what they are getting?
Liz Weston: On Saving for Retirement, Debt and Managing Credit
Posted on Mar 21 2013 by Michael Delgado
We had a wonderful opportunity to talk with Liz Weston (@lizweston) about saving for retirement, debt, managing credit, and much more.
Check out the full-interview:
I know you went to the FinCon blogger conference last year, how was that?
Liz Weston: Yeah, that was really a great event. There were a lot of opportunities for socializing and networking. It was pretty cool. I met Phil Taylor, who is the organizer, several years earlier. He was a participant in a savings contest that I co-hosted with FNBO bank, and really liked him. I thought it was going to be a small event, and it wasn’t at all. They had some great speakers and great information. It was really fun.
It sounds like a great event.
Liz Weston: Yeah, and it’s really a chance for a lot of these bloggers who aren’t professional journalists to brush up on their skills and meet some of the companies that they might work with. I found a lot of them were reluctant to call P.R. people and make contacts because they weren’t sure their calls were going to get returned. It’s nice for them to meet people at the various companies they can reach out to.
Experian Teams Up with the Small Business Administration
Posted on Mar 20 2013 by Roslyn Whitehurst
Ronald Reagan once said, “Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.” A truth that still holds true. In the current economic climate, however, small-business owners have found themselves under increased pressure to maintain profitability and grow their business.
Since its founding in 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.
Historically High Loan Terms and Low Interest Rates Kept Monthly Auto Payments Down in Q4 2012
Posted on Mar 05 2013 by Roslyn Whitehurst
Who doesn’t like low monthly payments? Unless you are lucky enough to buy a car outright, most consumers would agree that when making any large purchase, one of the goals is to keep the monthly payments as low and affordable as possible. Whether it is providing a large down payment, extending loan terms or securing the lowest interest rates, keeping costs down is a number one priority (at least in my household).
Giving Credit a Boost with On-Time Rental Payments
Posted on Mar 01 2013 by Kristine Snyder
This week, Experian announced its collaboration with payment processor WilliamPaid, which provides renters in any type of property another option for having their rental payment data reported to Experian RentBureau.
WilliamPaid joins Experian’s growing list of rental payment processors, providing more opportunities and options for renters to have their on-time rental payments incorporated into their Experian credit reports. This is not only another step forward for people who are looking to build credit history, but it’s also an opportunity to build credit history for people who are referred to as “underbanked,” or “unscoreable”.
Joint Statement from Experian Consumer Council Members
Posted on Feb 21 2013 by Abigail Lovell
At Experian we are committed to helping consumers learn about credit, and how to successfully build and protect their credit profiles. As part of this commitment, we formed the Experian Consumer Council in March of 2010.
The council is comprised of leading industry experts, nonprofit organizations and consumers who partner with Experian to gain insight into consumers’ needs, key issues and education as it relates to credit and financial literacy. Experian turns to the council for guidance and to help inform its products, services and credit education programs.
Data is the Cornerstone of Experian’s Business
Posted on Feb 11 2013 by Steve Wagner
There’s a lot of commentary in the press today as a result of a report the Federal Trade Commission issued this morning about the accuracy of credit reports.
This gives me the opportunity to share some insight into Experian’s business and how we actively manage the integrity of our data.
After thoroughly reviewing the FTC report issued today, we believe it confirms that consumer credit reports are predominately accurate and serving lenders and consumers well.
60 Minutes Story: Misleading Representation of Credit Reporting Industry
Posted on Feb 11 2013 by Gerry Tschopp
As you may have seen, 60 Minutes ran a story on the credit reporting industry tonight, and unfortunately, much of the story was inaccurate and misleading. The focus of the segment was on data accuracy and the results of the yet-to-be released FTC accuracy study.
Many parts of the story did not accurately reflect the facts that have been validated by independent third party studies, the industry’s position or Experian’s position. As such, we would like to clarify our industry position and specific allegations about Experian’s practices.
Experian’s Commitment to Data Integrity, Customer Service and Consumer Education
Posted on Feb 09 2013 by Steve Wagner
As the global leader in the credit business, it’s our responsibility to assist lenders in managing consumer credit risk, and importantly, to empower consumers to understand and responsibly use credit in their financial lives.
These responsibilities require a commitment – a commitment from us to play a leading role in helping consumers understand the fundamentals of credit management and how they can benefit from this growing marketplace reliant upon credit. To do this, we continually invest in processes and products that help consumers throughout their credit journey.
Experian has created a long-standing culture of commitment to evolve with the changing marketplace and demands of consumers (and the credit industry). We have a proven track record of continual improvements to our systems over the years, including:
Experian Shares the National Foundation For Credit Counseling‘s Mission of Financial Stability for All
Posted on Feb 06 2013 by Kristine Snyder
As of 2011, the Hispanic population comprised 16.7% of the United States population, the largest minority group following African-Americans. In addition, 20.3% of U.S. households speak a language other than English. Recognizing the need for expanded financial resources to the Hispanic community, Experian provided a generous grant to translate the NFCC’s MyMoneyCheckUpTM tool into Spanish.
Social Security Empowering Financial Planning
Posted on Jan 23 2013 by Michael Troncale
Thanks to the new online tools and services found at SSA.gov, you no longer have to wait on the phone or in line at the Social Security Administration (SSA) to access your benefits.
Today, vital financial information such as your recorded earnings; social security benefits (or expected benefits), and disability and survivor benefits are instantly accessible online.
The SSA recently announced the online “My Social Security” account, a tool that provides access to benefit verification letters and statements. Signing up for an account is easy, free and secure.
Experian Marketing Services Releases Study on Email Acquisition & Engagement Tactics
Posted on Jan 15 2013 by Matt Tatham
Email marketing continues to be the hub and driving force in cross-channel integration as consumers are becoming more vocal and more demanding with what they expect from their favorite brands.
Today, Experian Marketing Services released findings from its email market survey that addresses acquisition and engagement tactics email marketers use in tackling these challenges head-on.
Want to Guess Which Auto Maker Has the Most Brand Loyal Customers? It’s Ford!
Posted on Jan 15 2013 by Roslyn Whitehurst
In today’s ultra competitive world, every organization is doing what it can to not only reach new customers, but, some could argue more importantly, to hold on to the ones they already have.
In the recently released Loyalty and Market Trends Report by Experian Automotive, we looked at Automotive Loyalty at the brand, model and corporate level to see which auto makers were the most successful at keeping their customers coming back for more.
Drum roll please … our analysis found that Ford took the top spot in Brand Loyalty* overall and that the Ford Fusion and the Ford Flex took the top two spots for brand loyalty at the model level during Q3 2012 (surpassing the Q2 2012 model loyalty leader Chevrolet Sonic).
Budgeting Tips: How to Reduce Your Fixed Expenses
Posted on Dec 19 2012 by Michael Delgado
At the beginning of this year, I had several thousand dollars in credit card debt and I was ready to pay it off. But I knew that I needed to cut down on my spending in order to have enough money left over to start paying down my credit card balance.
So I did some research and started finding ways to cut expenses. One of the things I realized is that your fixed expenses – the ones that seem to be locked in – like your auto insurance and rent, often have some flexibility after all.
Below are some tips I’ve found for reducing those fixed expenses:
5 Reasons to Check Your Credit Report
Posted on Dec 14 2012 by Rod Griffin
When I speak to people about credit reports and credit scores one of the things I always do is ask the audience members to raise their hands if they’ve requested their free annual credit report.
Sadly, on a good night only about half the people in the audience raise their hands. A new report from the Consumer Financial Protection Bureau (CFPB) confirmed my simple surveys. Far too few people request their reports each year.
New Interactive, Web-Based Tool Offers to Help Financial Professionals
Posted on Dec 13 2012 by Michael Troncale
In today’s extremely competitive digital world, business analysts want information when they want it, the way they want it. Nowhere is this more evident than in the financial services sector, where the power of information helps risk and portfolio managers improve strategies and make better business decisions every day.
With the introduction of IntelliView, never before have you had this amount of pertinent data at your disposal that can be categorized and evaluated according to specific needs. The tool can help you to optimize strategic planning, uncover new opportunities and improve decision making by having 24-7 online access to Experian’s aggregated quarterly consumer credit data.
Experian Recognized by the National Foundation for Credit Counseling for its Commitment and Contributions to Financial Education
Posted on Dec 06 2012 by Kristine Snyder
Experian, the leading global information services company, today announced that its vice president of public education, Maxine Sweet, was recognized by the National Foundation for Credit Counseling (NFCC) with its Making the Difference Award during the organization’s 47th Annual Leaders Conference in Charlotte, N.C., which took place Sept. 30–Oct. 3, 2012.
Introduced in 2005, the NFCC’s Making the Difference Award honors individuals who have made significant contributions to assisting consumers with financial literacy, awareness and education, furthering the NFCC’s mission, vision and programs through a national presence.
Experian Marketing Services Appoints Peter DeNunzio as CheetahMail General Manager
Posted on Dec 05 2012 by Scott Anderson
Experian Marketing Services announced the appointment of industry leader Peter DeNunzio as general manager for Experian CheetahMail. DeNunzio assumes responsibility across all CheetahMail offices in the United States and reports to Matt Seeley, president of Experian Marketing Services.
With more than 25 years of experience in marketing, branding and direct-to-consumer programs, DeNunzio has a proven track record of anticipating opportunity and delivering results in every organization he has led.
“Peter is a recognized leader in our industry, and joins us with an exceptional background in interactive marketing, data and agency services,” said Matt Seeley, president of Experian Marketing Services. “Through his leadership and breadth of experience, Peter brings a strategic vision that is essential as we continue to invest in technology and innovative solutions that help our marquee clients deliver truly coordinated, relevant and response driven marketing programs.”
Experian: Automotive Financing, Leasing Continue to Rise
Posted on Dec 04 2012 by Roslyn Whitehurst
The auto finance market is always a hot topic for discussion. After all, a vehicle loan is the second largest purchase that most consumers will ever make (the first being a home).
Debt Recovery Can Be More Effective with TrueTrace
Posted on Nov 27 2012 by Kristine Snyder
There are two sides to every story. It’s one of those old clichés you hear time and time again. When I think about the collections process, this is the first thing that comes to mind. You have the consumer or debtor who enters into an agreement to pay for something and at some point, makes the decision not to pay.
It could be a credit card bill or a car payment –or maybe they even forget to pay a library book fine (this actually happened to someone I know!). On the other side, you have the debt collector, who has the task day in and day out, of collecting on the debt the debtor has agreed to pay.
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