Biz2X

APRIL 13, 2023

If risk analysis methods identify a certain loan as higher risk, repricing is a way the financial institution can increase its current revenue on the loan to minimize the potential future loss in the event of the borrower’s default. Other lenders have adopted the industry standard of delivering instant decisions on credit applications.

Credit Unions 52

Credit Unions Credit Risk Default Credit Scoring 52

CreditStrong for Business

JULY 15, 2022

The former is older and better established, and the company claims that 90% of top lenders use at least one FICO credit score variant. They claim that 9 of the 10 largest banks and 29 of the 100 largest credit unions use their credit scores in one or more lines of business. VantageScore is gaining ground, though.

Credit Scoring 52

Credit Scoring Credit Unions Credit Reporting Agencies Credit Card Companies 52

CreditStrong for Business

MARCH 3, 2023

However, you must provide the credit card issuer with a refundable cash deposit to qualify. Typically, the amount is equal to your eventual credit limit. That way, the credit card company can use the funds as collateral and cover their losses if you ever default.

Credit Scoring 52

Credit Scoring Credit Unions Credit Application Credit Card Companies 52