GO2bank Partners With Experian® To Offer Free Credit Features To Help Customers Quickly And Easily Build And Improve Credit, And Protect Identity
PASADENA, Calif .– (COMMERCIAL THREAD) – Green Dot Corporation (NYSE: GDOT) today announced its partnership with Experian to introduce new credit features to help customers securely access and improve their credit and protect their identity on GO2bank , Green Dot’s new flagship digital bank launched earlier this year.
“Every American, regardless of their credit history or experience, deserves quick and easy access to their credit score, as well as the tools and opportunities to improve it and save money,” said Dan Henry, CEO of Green Dot. “Bad credit is expensive, especially for the two in three Americans who live paycheck to paycheck, and we’re proud to partner with Experian to deliver tools that help our customers save, stretch their money a little more and to build a stronger financial position. basis for the future.
One in five American adults live without a credit score or are invisible when it comes to credit, with the majority actively seeking to improve their credit. Through this new partnership, GO2bank will offer customers free access to Experian Boost to increase their FICO® score by paying their utility and phone bills, as well as Experian CreditLock to help them protect against identity theft. .
“Working with one of the fastest growing digital banks is another way Experian is working on behalf of consumers to give them more control over their credit profile and credit scores,” said Jeff Softley, President, Direct to Consumer, Experian Consumer Services. “Millions of GO2bank customers will now have access to more financial tools and the one and only Experian Boost, giving them an advantage; they can tap all of these resources in one place and potentially open more credit doors instantly.
GO2bank’s extended credit suite is offered free of charge and is designed to provide features to customers who are struggling to obtain reasonably priced products to improve their credit rating. Experian Boost, a feature offered free through Experian, uses a positive payment history for utility and telephone bills as well as video streaming services to help consumers increase their FICO® score, ultimately enabling them to access the credit with better conditions. In the two years since its launch, the tool has helped nearly eight million consumers collectively increase their FICO score.over 50 million points. Among users starting with a FICO score of 680 or less, 70 percent increased their FICO® score.
The new credit tools, offered through GO2bank, will provide seamless access to cutting-edge credit tools and features, including:
- Clear credit image: Customers can access their FICO® score for free through their Experian membership, as well as Experian credit monitoring and alerts.
- Improve your credit instantly: Customers can increase their FICO® score through Experian Boost by earning credit for paying bills such as video streaming services, phones, and utilities.
- Security and protection: GO2bank helps customers protect themselves against identity theft by providing the ability to lock and unlock their Experian credit report, in addition to the peace of mind that comes with banking through its licensed and insured bank. FDIC.
- Access to credit: GO2bank’s secure credit card is already available with no credit checks or annual fees, so customers can establish and build credit regardless of their credit history.3
- Unique ecosystem for credit health: Additional features focused on upgrading customers to new credit offerings and savings to add throughout 2021 and beyond.
GO2bank is Green Dot’s new flagship digital bank designed to deliver meaningful value where people need it most and help improve financial health over time, all in one easy-to-use mobile app. GO2bank helps clients build confidence and control in the way they manage their money with overdraft protection up to $ 2004, great value rewards, high interest savings, and opportunities to establish, develop and track credit, regardless of credit history. GO2bank also offers low or no monthly fees5, easy access to over 90,000 retail locations nationwide to deposit money quickly and easily6, and the possibility of being paid up to two days in advance (or up to four days in advance for government benefits)7.
To download the app, visit the Apple App Store or the Google Android App Store, or for more information, visit: www.GO2bank.com.
About the green dot
Green Dot Corporation (NYSE: GDOT) is a financial technology company and registered banking holding company committed to transforming the way people and businesses manage and move money, and to make wellbeing financial and empowerment more accessible to all. Green Dot’s proprietary technology enables faster and more efficient electronic payments and money management, giving people intuitive and transparent ways to spend, send, control and save their money. Through its retail banking and direct banking, Green Dot offers a wide range of financial products to consumers and businesses, including debit, prepaid, check, credit and payroll cards, as well as services processing money, tax refunds, cash deposits and disbursements. The Company’s Banking as a Service (“BaaS”) Platform Enables a Growing List of America’s Leading Consumer and Technology Companies to Design and Deploy Their Own Custom Banking and Money Movement Solutions for their customers and partners in the United States and abroad. Founded in 1999 and headquartered in Pasadena, California, Green Dot has directly served more than 33 million customers and now operates primarily as a “branchless bank” with more than 90,000 retail outlets nationwide. Green Dot Bank is a subsidiary of Green Dot Corporation and a member of the FDIC8. For more information on Green Dot’s products and services, please visit www.greendot.com.
Experian is the world leader in global information services. During life’s greatest moments – from buying a house or a car to sending a kid off to college to growing a business by connecting with new customers – we make it possible consumers and our customers to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and prosper, lenders lend more responsibly, and organizations prevent fraud and identity crime.
We employ 17,800 people in 44 countries and invest every day in new technology, talent and innovation to help all of our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.
Learn more at www.experianplc.com or visit our global content hub on our global news blog for the latest news and information from the Group.
1 Results may vary. Some may not see improvement in scores or chances of approval. Not all lenders use Experian credit files, and not all lenders use Experian Boost impacted scores.
2 Credit score calculated based on the FICO® Score 8 model. Your lender or insurer may use a FICO® score different from the FICO® 8 score, or another type of credit score. Learn more
3 Available only to existing GO2bank account holders with direct deposits totaling at least $ 100 in the last 30 days. Eligibility criteria apply. Other fees apply.
4 A fee of $ 15 may apply to each qualifying purchase transaction that results in your account negative. Registration required. The balance must be increased to at least $ 0 within 24 hours of authorizing the first transaction that overdraws your account to avoid charges. We require immediate payment of each overdraft and overdraft fee. Overdrafts are paid at our discretion and we do not guarantee that we will authorize and pay for any transaction. Learn more about overdraft protection (PDF).
5 The monthly fee is waived whenever you receive a direct deposit for payroll or government benefits during the previous monthly statement cycle. Otherwise $ 5 per month.
6 Retail service charges and limits apply. See the Deposit Account Agreement (PDF) for more details.
7 The anticipated availability of direct deposit depends on the timing of the payer’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from one pay period to another. The name and social security number registered with your employer or benefit provider must match your GO2bank account exactly, otherwise we will refuse your deposit.
8 Green Dot Bank also operates under the following trade names: GO2Bank, GoBank and Bonneville Bank. All of these registered business names are used by and refer to a single FDIC insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the permitted limits.