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Financial PersonalitiesSM - Credit Based

Combining consumers’ needs and attitudes with actual behaviors to create one powerful score

Many conventional segmentation schemes start with demographics or implied life stages and then attempt to infer relevant insights about consumers. In contrast, Financial PersonalitiesSM starts with primary research to derive the critical insights regarding consumer needs, attitudes and behaviors:

  • Relevancy of the category and product
  • Awareness and consideration by type of provider
  • Shopping process and criteria for selecting providers and products
  • Preferred channel(s) for interacting with current and potential providers
  • Likelihood to use each product and expected balances, and outstandings
  • Expected tenure and receptivity to alternative providers

Varying Needs Across Financial Services Categories

Given that consumers’ needs, attitudes and behaviors vary across financial services categories, we conduct and refresh our research against each specific category.

We then combine consumers’ needs and attitudes with their actual behavior and use proprietary clustering techniques to develop our frameworks. Finally, we build predictive models, using our comprehensive consumer data resources, to generate scores to accurately assign consumers to their Financial Personality within each category.

Sample Financial Personality Profiles

The following are just a few examples of some of the powerful targeting and tailoring insights you will be able to leverage with Financial Personalities:

Credit Card Financial PersonalitiesSM

Loyal Rewards Enthusiasts
Promote rewards-oriented credit cards to consumers who:

  • Are confident and knowledgeable about their finances
  • Select credit card providers based primarily on their rewards program
  • Use their rewards card whenever possible, i.e., more than 60 percentof their spend is through their rewards card

Credit Hungry Card Switchers
Promote credit card balance consolidation offers to consumers who:

  • Are less financially secure and rely heavily on credit cards
  • Actively seek out credit card offers with lower rates and higher lines
  • Are the most active card switchers, i.e., more than 60 percent have applied for two or more credit cards over the past 48 months

Deposit Financial PersonalitiesSM

Conservative Bank Loyalists
Promote high-yield money-market accounts, high-yield savings accounts and CDs to consumers who:

  • Are savers, not spenders; prefer conservative savings products
  • Select banks based on the provider’s ability to deliver personal service and competitive rates
  • Keep lush bank deposit balances, i.e., total available balances are approximately $50,000 or more (70 percent greater than average)

Insecure Debt Dependents
Promote free checking products to consumers who:

  • Actively seek out free checking programs
  • Generate the highest Non-Sufficient Funds/Overdraft (NSF/OD) fee income
  • Have the lowest deposit balances, i.e., total available balances are approximately $8,000 (75 percent less than average)

Home Equity Financial PersonalitiesSM

Home Equity Enthusiasts
Promote home-equity lines of credit to consumers who:

  • Are less financially disciplined and tend to live somewhat beyond their means
  • Consider home-equity products to be a smart way to finance a variety of purchases or to consolidate debt
  • Have the highest home-equity product ownership, i.e., approximately 65 percent have at least one home-equity product (70 percent greater than average)

Secure, Savvy Credit Users
Promote home-equity lines or loans to consumers who:

  • Are fiscally disciplined and financially secure
  • Consider home-equity products to be appropriate for large expenditures, particularly home improvement
  • Have high home-equity product ownership, i.e., approximately
  • 45 percent have at least one home-equity product (25 percent greater than average)

Personal Lines and Loans Financial PersonalitiesSM

 

Sophisticated Line Users
Promote personal lines of credit to consumers who:

  • Are fiscally disciplined
  • Like to have a personal line of credit readily available
  • Have the highest personal line balance, i.e., approximately $1,800 in line balances (50 percent greater than average)

Insecure Debt Dependents
Promote personal loans and lines of credit to consumers who:

  • Rely on many types of credit
  • Use personal loans and lines primarily for debt consolidation
  • Have the highest personal loan balance, i.e., approximately $2,500
  • in loan balances (70 percent greater than average)
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