10 years post the Great Recession, Equifax suggests communication providers review alternative data for emerging qualified customers
A recent study conducted by Equifax reveals that 42 million U.S. consumers in 2018 had damaged credit scores (i.e near-prime or sub-prime) and also had a “best” financial capacity profile (i.e. less than 30% DTI ratio). That could mean they have the disposable income available to afford a smart phone upgrade or wireless plan which represents 13.6 million more new consumers (than in 2008) that carriers may need to reconsider as qualified prospects.
Prior to the Great Recession, communications service providers (CSPs) relied solely on credit scores to make application decisions. Ten years later, this model has not changed. However, […] Read more