信用建设者产品：评分影响和消费者绩效.pdf

1、Credit Builder ProductsScore impacts and consumer performanceSVP,Consumer Lending Business LeaderLiz Pagel1 2024 TransUnion LLC All Rights ReservedAgenda2024 US Financial Services Summit1.The credit builder landscape2.Profile of credit builder users Q4 20233.Credit builder tradelines and credit scor

2、e4.Credit activity post credit builder tradeline5.Performance of credit builder users2 2024 TransUnion LLC All Rights ReservedWe studied three popular credit builder products3Note:Products are illustrative examples and not exhaustive of all credit builder products in market.Products out of scope inc

3、lude:debit cards,debit account linked line of creditSource:Lender websites;TransUnion analysis.Traditional secured cardOpen secured cardSecured installment loansDescriptionCredit card secured by a locked cash depositPayment card connected to a deposit account Installment loan secured by locked cash

4、depositAmount/spend limitSpend limit equal to security depositSpend limit linked to deposit account balanceTypically$100$500SecurityLocked depositDDA accountLocked deposit,typically in a CD or savings accountTermRevolvingOpenAverage 412 monthsPayment termsMinimum monthly payment required,balances ca

5、n revolveBalance due in full monthly,paid out of deposit accountEqual monthly paymentsOther detailsMinimum 14 days between purchases and bank debitDeposit unlocked at end of term 2024 TransUnion LLC All Rights ReservedThe number of consumers with credit builder products has grown rapidly over the pa

6、st few years4Source:TransUnion US consumer credit databaseNumber of Credit Builder Consumers3.43.43.23.65.80.90.91.34.37.910.2024681012Q4 2021Q4 2022Q4 2023Number of Consumers(M)Traditional Secured CardOpen Secured CardSecured Installment 2024 TransUnion LLC All Rights Reserved5Rapid growth of credi