'New to credit' shouldn’t mean 'too risky for credit', with Charlie Wise

Lenders want to wait until somebody has established their track record some place else, really proven themselves to be able to manage their debt, and then they want to jump on them and create a loyal relationship... well, that's a very expensive proposition, because it means you have to dislodge somebody from where they've been previously.

That's one of the things that we wanted to shine a light on is to understand, are these people really riskier? In other words, do you need to wait? Or do they reveal themselves pretty quickly.

And that's really what we found, is that based on the performance of consumers, when they open those subsequent products over the first two year journey, in many cases, they actually perform better controlling for credit score performed better than those that have established that track record.