LIFECARD using FICO(R) Score to better evaluate risk for
credit line increases and credit risk of their existing customers
-- LIFECARD is the first lender in Japan to adopt the FICO(R) Score to enhance its credit assessment for existing customers.
-- The FICO(R) Score for Japan uses data from the major credit bureaus to provide a wide-angle view of a customer's credit risk.
- The FICO(R) Score is the standard measure of U.S. consumer credit risk, and is used in more than 25 countries on 5 continents. More than 10 billion FICO(R) Scores are purchased each year by lenders for their risk management decisions.
FICO today announced that LIFECARD, a credit card company with more than 5.7 million accounts, is the first lender in Japan to adopt the FICO(R) Score to enhance its credit assessment for existing customers. Calculating an appropriate and timely offer for a credit limit increase is made more accurate by reassessing customers with the FICO(R) Score, which analyzes their credit bureau data from all their credit accounts.
