Whether consumers are shopping for new credit or experiencing financial stress, monitoring their behavior is crucial — even more so in an ever-changing economy.
Our latest infographic explores economic trends impacting consumers’ financial behaviors and how Experian’s Risk and Retention TriggersSM enable lenders to detect early signs of risk or churn. Key highlights include:
- Credit card balances climbed to $1.17 trillion in Q3 2024.
- As prices of goods and services remain elevated, consumers may continue to experience financial stress, potentially leading to higher delinquency rates.
- Increasing customer retention rates by 5% can boost profits by 25% to 95%.
View the infographic to learn how Risk and Retention Triggers can help you advance your portfolio management strategy.
