TARJETASDECREDITO.TV PORTAL

TarjetasdeCredito.tv bilingual video and text web portal for card
products is officially up and running to serve both English and Spanish
speaking customers. Translated as “CreditCards.tv”, the service will
act as an educational portal and establish alliances with bilingual
consumer
financial groups and educators. U.S. Hispanic purchasing power is nearly
$750 billion and projected to reach $1 trillion by 2010 while U.S. Hispanic
Internet users are projected to reach nearly 21 million by 2010,
according to
experts.

Details

CreditXpert Tackles Authorized Users Issue

MD-based CreditXpert has launched the first product on the market to help lenders easily assess the impact of authorized user accounts on a borrower’s credit. The new “CreditXpert AU Filter” compares credit files including and excluding authorized user accounts. By doing so, the new solution provides lenders with the score impact of that change, thus enabling them to take the true risk impact into consideration when underwriting loans. CreditXpert estimates that at least one authorized user account — and most commonly, two to three — are on one-third of all credit files. Of those credit files, the firm estimate that 60% will experience a credit score change when authorized user accounts are not considered in scoring.

Details

TSYS Offers Cardholders Flexible Card APRs

TSYS has signed a partnership agreement with Paymentflex Technologies to provide a credit system that allows cardholders to choose their interest rate each month according to the amount of their balance they choose to pay off. “Paymentflex” is a patented credit system that rewards cardholders for their responsible use of credit and for issuers requires no customer interface to be integrated by TSYS. TSYS says the partnership with Paymentflex enables it to offer its clients a pro-consumer solution that is simple, transparent and seamless to users and directly addresses current regulatory and consumer advocacy concerns regarding customer empowerment and full disclosure. Financial terms of the multi-year agreement were not disclosed.

Details

Most Consumers Raise Credit Scores This Year

More than 30% of U.S. consumers improved their credit score by up to 50 points in a six-month period from January to June 2007. The latest “National Score Index” study by Experian Consumer Direct also found that 41% showed no change in their credit score from January to June; 2% had their credit score improve by 51 to 100 points from January to June, whereas 3% of U.S. consumers saw their score drop 51 to 100 points during the same time period; and nationwide, 23% of consumers had their credit score drop up to 50 points from January to June. Addi tonally, 20% of consumers with a credit score between 650 and 699 in January improved their score to between 700 and 749 in June. Fourteen percent of consumers with a credit score between 700 and 749 in January improved their score to between 750 and 799 in June.

Details

Deion Sanders to Support eLayaway.com

eLayaway.com has announced that Deion Sanders will be joining the company as Ambassador to help people avoid the pitfalls of credit card debt and promote an alternative to credit. eLayaway.com is similar to traditional layaway allowing shoppers to buy a product online and pay for it in regular automatic installments with ACH processing by HSBC and delivery upon full payment. eLayaway.com does not charge per-sale transactions fees to merchants. eLayaway.com is for customers who are near or behind their credit limit or those who simply want to avoid high interest credit card fees. eLayaway.com lists 3.5 million products and growing, with merchants such as Comp USA, Serta, Shoppers Choice, Diamond Source, Apple, and Intel.

Details

TotalSource XL Emerging Market is Unveiled

Equifax has launched “TotalSource XL Emerging Market,” a new direct marketing prospecting tool to help lenders target households that are likely in need of financial products and would be receptive to invitation-to-apply offers. TotalSource XL Emerging Market data is refreshed every six weeks, giving financial institution marketers access to prospects before they are flooded with competing offers. Created from a database containing extensive data on the unbanked market, TotalSource XL Emerging Market provides highly responsive consumer selects, including demographics, lifestyles and behavioral attributes to help lenders identify households in need of financial products. Lenders can then leverage these data attributes to align audience segments with the product or service being promoted through ITA offers.

Details

PSCU PayLynx Tops 500K Monthly Subscribers

FL-based PSCU Financial Services has topped 500,000 subscribers and 2.6 million bill payments per month for its “PayLynx” online bill payment service. PayLynx also boasts a greater percentage of active subscribers and higher rates of acceptance for electronic bill payment by billers than other providers of the CheckFree service. It is also launching online bill payment for small businesses in January. The cooperative was the first to offer “FraudNet”, a bill payment fraud detection and prevention tool and has developed innovative marketing materials that includes an online video designed to build consumer acceptance.

Details

GE Money to Issue the Closet Tailors Card

GE Money will offer a new private label credit card to U.S. customers of home organizing franchisor Closet Tailors. The “Closet Tailors Credit Card,” managed by GE Money’s Sales Finance unit, will be available through more than 100 franchises across the U.S. and offers a quick and easy application, sales process with promotional financing and deferred interest terms. According to surveys conducted by the National Association of Home Builders (NAHB) in 2005, garage storage alone is a $2.5 billion industry with anticipated growth of 20 % change per year through 2010.

Details

U.K. Credit Card Stats Show Improvement

Credit card delinquency (60+ days) hit a twelve-month low in August and has dropped for the fifth consecutive month. For August, delinquency in the U.K. dipped to 3.4%, compared to 3.6% in the prior month and 3.8% one-year ago. According to FitchRatings, delinquency reached a historical high in April 2007 of 4.1%. Also, the “Fitch Charge-Off Index” remained relatively stable in August, having dropped 20 basis points from the previous month, to 7.0%. The Fitch monthly payment rate index fell to 17.9% in August, a month-on-month decrease of 60 basis points.

Details

GAP YEAR CARD

Advanced Payment Solutions has introduced a pre-paid MasterCard for gap year students. The new “Gapyear.com MasterCard” offers a 10% discount at hundreds of travel partners worldwide. It is also a personalized “Chip & PIN” card and offers purchase protection in line with credit based products, but also includes protection for purchases under GBP 100. It can be topped up at over 20,000 outlets throughout the UK, 15,000 of which are free and, conveniently for parents, by standing order. The card is issued by Broadcastle Bank Ltd.

Details

Affinion Direct Response Group is Launched

CT-based Affinion Group has launched Affinion Direct Response Group, a new direct response marketing division. The group offers an in-house full-service direct marketing agency, marketing strategies, creative development, database modeling, database analysis, telemedia advancements and direct mail strategy & print production. Affinion Group also has a growing loyalty solutions operation which administers points-based loyalty programs.

Details