According to estimates, there are as many as 121 million adults in the U.S. with thin or poor credit histories. For those consumers, building — or rebuilding — their credit presents a catch-22. Because they generally can’t qualify for traditional credit cards, they can’t access the credit necessary to improve their scores, and thus remain shut out from a key aspect of mainstream financial inclusion.
That’s where secured credit comes in. Collateralized by cash deposits, secured credit cards thus can be offered to consumers with weak or thin credit histories, who can build their credit by making and paying off purchases responsibly. Meanwhile, issuers gain access to a previously untapped market segment, earning interchange revenue from transactions made with the card, and building stronger customer relationships.
In this session, we’ll talk more about how secured credit offers a win-win for issuers and consumers. We’ll also detail how the new and improved Galileo Secured CreditTM; card offering gives cardholders more flexibility to manage their cash flow with real-time funding options while building credit and working toward full financial inclusion.
This webinar explores:
Why secured credit is an important portfolio option to capitalize on market share
How secured credit can generate revenue AND be a market differentiator for you
How the new Galileo Secured Credit card offers fast, flexible and real-time funding options so cardholders don’t have to tie up all their cash to transact