Can credit cards with access to complimentary credit score information benefit consumers and lenders?

Vyacheslav Mikhed

No 15-3, Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia

Abstract: Barclaycard U.S. is one of a growing number of banks offering cardholders free access to their FICO Credit Scores with credit card products. On November 19, 2014, Paul Wilmore of Barclaycard U.S. presented Barclays? rationale for offering this feature and provided his perspective on its development. He also discussed how consumers responded to this feature in terms of their spending, repayment behavior, and lifespan and intensity of their relationship with the bank. According to Wilmore, program participation is correlated with increased card spending, decreased credit utilization and delinquency, increased digital engagement, and lower cardholder attrition.

Keywords: Credit Reports; Risk Scores; Credit Cards; Consumer Lending; Information; Credit Performance (search for similar items in EconPapers)
JEL-codes: D12 D14 G21 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2015-09-30
New Economics Papers: this item is included in nep-ban, nep-ict and nep-mkt
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.philadelphiafed.org/consumer-finance/c ... onsumers-and-lenders (text/html)
https://www.philadelphiafed.org/-/media/frbp/asset ... n-papers/dp15-03.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedpdp:15-03

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia Contact information at EDIRC.
Bibliographic data for series maintained by Beth Paul ().