| Job Score for Credit Card Companies |
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| Key Advantages:
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Accurately forecast credit risk |
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Improve credit decisions |
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Identify high risk customers early |
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Minimize delinquencies and losses |
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| Unemployment is the leading cause of delinquencies. Job Security Scores predict this risk for each individual card-member at any point in time. Unlike credit bureau scores, which rely on past activity to predict credit risk, Job Security Score looks forward to assess the risk to card-members’ ability to pay—at their personal profile as well as macroeconomic factors affecting their risk of job loss. |
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| When credit card issuers use Job Security Score together with credit bureau scores, they get the full picture. The combination of looking back to assess the intrinsic risk factor of personal credit management and forward to measure the extrinsic risk to income, is a formula that helps you assess each card-member’s unique circumstances and position in the changing economy—an insight that helps you further reduce risk and minimize losses. |
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| As well as predicting and managing card-member delinquencies and charge-offs more effectively, credit card companies use Job Security Scores in their marketing campaigns, mail suppression process, and application approval process. |
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| Scorelogix's Job Security Score™ has been fully validated over the past 2 years and the accuracy of its unemployment risk forecast is over 70% which therefore would be very helpful to any lending company in making a superior evaluation of consumer's credit risk resulting in millions of dollars in savings from delinquency and charge-off prevention. And since research shows that up to 66% of all credit defaults can be attributed to job losses, a lender with $100 million in losses – who in reality has up to $66 million in unemployment-impacted losses alone, could prevent up to $46 million in losses by using Job Security Score™ – a reduction of up to 46% in losses. |
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| To find out how you can incorporate Job Security Score into your businesses’ credit decisions and put Scorelogix’s advanced research and cutting-edge risk-scoring model to work for you, call to speak with a Scorelogix unemployment risk expert at (302) 328-1210. |
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