Knowing a consumer’s credit information at a single point in time tells only part of the story. For the whole story, lenders need to assess a consumer’s credit behavior over time. Understanding how a consumer uses credit or pays back debt over several months can better position you to:
- Offer the right products and terms to increase response rates.
- Identify profitable customers.
- Avoid consumers with payment stress.
Trended data adds needed color to the consumer’s credit story. And with the right analytics and systems, you can derive valuable insights on consumers.
