Atlanta, GA (PRWEB) May 28, 2014
eCredable, a credit reporting agency that helps consumers without a traditional history prove their creditworthiness to potential creditors, today announced an exclusive marketing relationship with PTS Financial. PTS Financial Services provides a premium club program to the Rent-to-Own industry which provides a variety of benefits to their members, such as Product Protection, Prepaid Gold Debit Card, AT&T 10% Discount, and a Free Prescription Discount Card.
“We are very excited to be working with PTS Financial, the leading provider of consumer benefits to the Rent-to-Own industry,” said Steve Ely, CEO of eCredable. “Adding eCredable as a member benefit provides the Rent-to-Own consumer the opportunity to leverage their monthly on-time payment to help them build a credit history with eCredable. The consumer can include this payment in their AMP Credit Report® which includes their AMP Credit Rating®, allowing the consumer to qualify for credit-dependent offers from mainstream financial providers.”
“Rent-to-Own customers have had credit building at the top of their list for quite some time,” said Tony Farrell, CEO of PTS Financial. “eCredable has developed an innovative approach to using the on-time payment the consumer makes to the Rent-to-Own business to build a credit score they can use to qualify for products like auto loans and home loans. This is a big win for many of these consumers who may be credit challenged. It’s also a big win for the Rent-to-Own company – the consumer has a real incentive to make their monthly payments on time, now that their payment is being shared with a Credit Reporting Agency.”
eCredable uses bill payments that are not typically reported to the national credit bureaus, to create a credit report and credit rating which can be used by lenders and creditors to qualify the risk of the consumer. Bills like rent, mobile phone, utilities, and insurance have proven to be predictive in determining risk of payment default. eCredable’s product guides the consumer on a journey of building their own AMP Credit Report® with contains verified payment information, which also includes an AMP Credit Rating®, which lets the consumer and the lender know where the consumers stands on a scale of A-F.
eCredable is an alternative Credit Reporting Agency that helps consumers demonstrate their creditworthiness to prospective creditors. Launched in 2009, eCredable allows creditors to comply with the Equal Credit Opportunity Act (ECOA), which requires any creditor using credit related information to assess the creditworthiness of an individual to consider any similar payment information the consumer puts forth to demonstrate their creditworthiness. eCredable’s credit information gathering product allows consumers to record their monthly bill payment accounts, monitor their progress towards their AMP Credit Rating® goal with AMP Rate Watch®, request verification of their payment history, and create a verified AMP Credit Report® that meets all financial industry standards. The consumer can then share their AMP Credit Report and AMP Credit Rating with any potential creditor, service provider or employer. eCredable uses a unique AMP Credit Rating that shows the consumer, and the potential creditor, where the consumer’s credit rating stands on a clear, straightforward scale of A to F. eCredable’s AMP Credit Rating provides a powerful tool to assist the consumer in understanding the importance of making payments on time. AMP stands for All My Payments. The company is headquartered in Alpharetta, Georgia.
About PTS Financial
PTS Financial Services headquarters is located in Calhoun, Ga. They offer their clients many services including PTS Tax, PTS Auto Club, and PTS Direct Benefits. PTS Tax is a full service, turnkey tax operation in which PTS partners with other businesses through a hybrid franchise agreement. With the PTS’ Auto and Direct Benefits Club Program they offer their clients the ability to provide their customers with extra benefits by means of discount programs and merchandise protection.