Tag: near-prime

With Hispanic Heritage Awareness Month underway and the topic of growing membership a constant priority, here are some tips from a credit union CEO.

The average bankcard balance per consumer in Q2 2013 was $3,831, a 1.3 percent decline from the previous year. Consumers in the VantageScore® near prime and subprime credit tiers carried the largest average bankcard balances at $5,883 and $5,903 respectively. The super prime tier carried the smallest average balance at $1,881.

Using a more inclusive scoring model such as the new VantageScore® 3.0, lenders can score up to 30 million consumers who are labeled "unscoreable" by traditional models. Nearly 25 percent of these consumers are prime or near-prime credit quality.