Unsecured Credit Cards for no Credit HistoryUncovered credit cards without credit card history
Novel Expert tools to help renters improve creditworthiness
Thus, this new tech will help non-homeowners get unsecured credit or even see how they buy their own home. It was a subject that was addressed and discussed disgracefully in Parliament when Jamie Pogson, a father of Plymouth, fought for rents to prove that renters could pay their own mortgages, with 140,000 signed agreements.
Heny Yates CEO of Credit Builder said: Hopefully the site will be further expanded to help those renters applying for unsecured items such as credit and debit cards. Guarantee credits are used intensively to help lessees obtain an unsecured credit, as the creditor tries to minimize their exposure by using a surety.
Both GoBear and CredoLab launch credit application for sub-banks
GoBear's website for face-to-face financials and CredoLab, the smartphone-based credit rating service providers, today unveiled Easy Apply, a smart-phone application that allows bankers, financiers and creditors to grant credit to a wider range of clients while monitoring risk. It represents a major step forward in providing financing to more than 110 million of underfinanced individuals in developing South East Asian economies (SEA).
Easy Apply will be introduced in four of the biggest sub-bank stores in SEA - Indonesia, Philippines, Thailand and Vietnam - where some 65 to 75 percent of the populace2, many of whom are worthy creditors, have no credit at all. It will utilize CredoLab's AI-based, proprietary algorithm that extracts and analyzes over ten thousand points of information from applicants' smart phones and transforms these fully anonymized "digital footprints" into predictable credit cards that can be used in their credit cards, credit cards or insurances application.
Using non-traditional smart phone credit score information provides better accessibility to searchers from all population groups - even sub-banks with little to no credit history - to search credit cards, consumer credit and other unsecured credit types. According to an Ernst & Young survey published early this year, banks active in fiscal integration are expected to generate an annual turnover of $88 billion by 2020, with an overall credit cardholder turnover in the MEER region (excluding Singapore and Malaysia) of only 5 percent3 .
GoBear's Apply will be an integral part of the GoBear travel experience. This starts with the GoBear Easy Choices function, which will help candidates better identify which product fits their profiles before they download and install the application on their smartphone to create their own scorecard. In the near term, however, the company will start with the credit card sector and cover consumer credit, insurances and other credit facilities.