Experian® announced its Experian Credit Insight Program, which currently is available for financial institutions of all sizes and offers them a unique opportunity to provide their customers with credit scores and credit education as an added-value with their online and offline credit card and bank statements.
With the Experian Credit Insight Program, customers of banks receive not only their VantageScore® credit scores, but also a more comprehensive picture of their credit standing with insight into items from their personal credit reports that influence scores the most.
Credit health is measured by more than just a number. Consumers need context as to what the number means and how to influence their credit health. Providing a credit score along with rich, detailed educational content as well as key information from their credit report is what makes the Experian Credit Insight Program unique. Its features include:
- Consumer access to VantageScore credit score and key factor codes that contribute to the score. These factor codes include both negative and positive items. VantageScore offers consistency across bureau platforms along with the ability to score a broader population.
- The ability to track the score over time to provide a longitudinal view of a consumer’s credit health.
- Personalized insight into several core factors that impact credit, such as credit utilization, delinquencies and the number of open accounts, on every statement.
- An option to offer a full credit report to consumers, providing true transparency into what drives the credit score and insight into what lenders use to make decisions.
- Score-focused online education tools and assistance via phone, helping consumers learn about credit and what their individual report means*.
With the Experian Credit Insight Program, consumers not only can learn more about their credit health and make changes to their budget planning and daily spending habits, but also can engage in new ways with their financial institution, creating a stronger, more cohesive relationship. More information on the Experian Credit Insight Program, including a perspectives paper, is available online.
Additional consumer education resources
For more than 20 years, Experian has been committed to improving consumer financial literacy and is dedicated to providing products and services that help consumers manage their credit reports and credit scores better, so they can get the credit they need when they need it.
Consumers can connect with Experian and learn more about credit in other ways, including by:
- Joining the #CreditChat, hosted by @Experian_US on Twitter with financial experts and consumers every Wednesday at 3 p.m. Eastern time
- Reading about Experian’s perspective on trends and news at the Experian News Blog
- Visiting Experian’s help site for answers to common questions, advice and education about consumer credit
- Asking credit questions on Experian’s Facebook page at https://Facebook.com/ExperianUS
Experian also offers personalized phone-based credit education sessions through the Experian Credit EducatorSM service. This approximately 35-minute one-on-one session provides consumers with their credit report, VantageScore credit score and insight for making future credit decisions. For a one-time fee of $39.95, consumers are provided with the knowledge of an Experian Credit Educator agent, empowering them with the foundational education for understanding their credit situation and ways potentially to improve their VantageScore.
Consumers who want to take the next step in reaching or maintaining a healthy credit profile can visit http://www.experian.com/crediteducator or call 1 877 903 1009 to initiate a personalized education session.
VantageScore Solutions, LLC (www.vantagescore.com) is the independently managed company that owns the intellectual property rights to the VantageScore credit scoring models, including the recently announced VantageScore 3.0 model which provides up to 25 percent predictive improvement over earlier models and has the ability to formulate a score for 30 – 35 million previously unscoreable consumers. Initially developed by America’s three national credit reporting companies (CRCs) — Equifax, Experian and TransUnion — VantageScore Solutions’ highly predictive models use an innovative, patented and patent-pending scoring methodology that provides lenders and consumers with more consistent credit scores across all three national credit reporting companies.