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Article: EQUIFAX AND FAIR ISAAC UNVEIL NEW TOOL TO MEASURE CREDIT CAPACITY.(News)
- Article from:
- Cardline
- Article date:
- July 24, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Equifax Inc. and Fair Isaac Corp. today unveiled the Credit Capacity Index, a risk-management tool designed to help credit card issuers predict borrowers' ability to take on additional debt. The tool can help issuers determine which new or existing borrowers can handle a credit-line extension and which ones would be better off with a frozen or reduced credit line, the companies say. "In order to survive today's tough economy, a lot of credit card issuers are pulling in consumers' credit lines to avoid further losses from those who are unable to pay back their loans," Careen Foster, director of scoring product management at Minneapolis-based FICO, tells CardLine. "This new ...