“This integration allows more consumers to control their credit and harness a good credit rating to their advantage,” said Jeff Softley, president, Direct-to-Consumer, Experian Consumer Services
FARMINGTON HILLS, Michigan (PRWEB)
April 6, 2021
700 Credit, LLC, the leading provider of credit reporting, compliance solutions, screening and prequalification products for the automotive industry, announced that it has integrated the Experian Boost ™ tool into its QuickQualify platform, The web-based consumer prequalification solution that does not require a consumer’s SSN or DOB and does not affect their credit report. This new product feature is available free of charge to resellers who have the QuickQualify platform with Experian® enabled. The credit rating “boost” will happen after a consumer is prequalified for a loan and before they get to the finance office to request financing.
Experian Boost ™ is a product offered by Experian that allows consumers to potentially “boost” or improve their FICO® score. When consumers sign up for Experian Boost ™, they provide Experian with secure access to their online bank or credit card accounts to add positive cable, cell phone, and other utility bill payment history. (as tradelines) to their Experian credit report. Once the credit score is increased, consumers see the new score and this is immediately reflected in their Experian credit report.
“Adding the Experian Boost ™ tool to our QuickQualify solution adds a level of depth and value for both the dealer and the consumer,” said Ken Hill, Managing Director of 700Credit. “Consumers who increase their FICO® score translate to better consumer rates when they reach the finance office, and satisfied consumers increase sales and dealer return.”
“This integration allows more consumers to control their credit and use a good credit rating to their advantage,” said Jeff Softley, president, Direct-to-Consumer, Experian Consumer Services. “Experian Boost gives consumers the exclusive ability to add positive data, such as utility payments, to their Experian credit report to give lenders a better view of their creditworthiness. And with a better credit rating, dealers can potentially offer better financing and savings to consumers, so it’s a win-win situation. “
700Credit is the leading provider of credit reports, compliance products and screening services to the automotive industry. The company’s product and service offerings include credit reporting, dealer screening and prequalification platforms, OFAC compliance, identity verification solutions, risk-based pricing, disclosure of scores and notifications of unwanted actions, synthetic fraud detection, income verification and more. . 700Credit’s goal is to provide its clients with the highest quality data in a compliant framework in the most efficient manner possible. For more information on 700Credit, visit http://www.700credit.com.
Experian is the world’s leading information services company. During the great moments of life – from buying a house or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our customers to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and prosper, lenders lend more responsibly, and organizations prevent identity fraud and crime.
We have 17,800 people in 45 countries and we invest every day in new technology, talented people and innovation to help all of our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.
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