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Launched in 1999, CreditProvider offers credit solutions and auto refinance to U.S. consumers with
no credit history or past credit problems. The U.S. sub-prime market encompasses
more than 80 million consumers and is growing at an annual rate of 12% to 15%. The
sub-prime marketplace also crosses all socio-economic barriers, such as age, occupation
and income class. For example, a recent Fannie Mae study shows that 22% of United
States consumers with an income of $65K to $75K have “bad credit”.
CreditProvider has developed strategic partnerships within the auto loan refinancing, credit reporting
and credit scoring industry that allow us to pre-screen consumers and match them
with lender products based on a lender’s criteria and the consumer’s credit
history/score(s). Our auto finance lenders are assured that every customer we send them is as
qualified as possible.
CreditProvider’s short online application form and Matching Engine Technology
sm allows us to collect a small amount of information from
the consumer and respond with pre-qualified offers, within as little as five seconds.
In February, 2001, federal banking regulators issued new guidelines that define
“sub-prime” lending, e.g. borrowers with higher-risk characteristics.
A consumer is considered sub-prime if they meet one or more of the following criteria:
• A Fair, Isaac & Co. (FICO) score of 660 or lower, or an equivalent
credit rating;
• Two or more 30-day delinquencies in the past year, or one 60-day
delinquency in the past two years;
• A bankruptcy filing within the past 5 years;
• A debt service-to-income ratio of 50% or greater;
• A foreclosure, repossession or charge-off in the previous 24 months.
Credit Provider recognizes that today's online users are primarily focused on value
and the ability to compare products. And when it comes to financial services, we've
found that consumers look for well-established online entities. We've helped hundreds
of thousands of people find the right auto loan refinance, credit card, auto loan, home loan or student
financing, and continue to work with most of the leading U.S. sub-prime lenders.
We look forward to assisting you with your auto financing and credit needs and educating you about
your best possible options at any given time.
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