Category
Lifestyle
Portable Mornings
Trend cluster
Category
Boosted
Payment
Non-traditional purchasing tools help consumers to build their credit.
2.9
Trend score
Trend
What is the Boosted Payment trend?
Boosted Payment: Brands are releasing credit-building debit cards and financial services designed to help individuals establish or improve their credit history by using other payment methods. These non-traditional methods typically involve spending one's own funds rather than borrowing money.
Insight
The consumer insight behind the Boosted Payment trend
Good credit provides access to a range of beneficial financial opportunities, and this correlates to consumer demand for tools that simplify this area of finance. Establishing credit through traditional banks and credit bureaus can pose challenges, especially for individuals with a limited credit history or insufficient financial resources. These individuals turn to credit-building services as a way to expedite the credit-building process and to provide a sense of assurance regarding financial matters.
Trend themes
Themes within the Boosted Payment trend
Three behaviours holding the trend together01
Credit-Building Debit Cards
Brands are releasing credit-building debit cards and financial services designed to help individuals establish or improve their credit history by using other payment methods.
02
Credit-Building Services
Consumers turn to credit-building services as a way to expedite the process and to provide a sense of assurance regarding financial matters.
03
Alternative Credit Reporting
Companies are incorporating alternative data sources, such as rental payment data, into credit profiles to provide individuals with limited credit history the opportunity to establish a more robust credit profile.
Industry implications
What the Boosted Payment trend means for industry
Where the trend changes the playbookFor
Personal Finance
The personal finance industry can reference the trend of credit-building debit cards and credit-building services to develop innovative financial solutions that help individuals establish or improve their credit history.
For
Fintech
Fintech companies can leverage the trend of alternative credit reporting to develop new technologies and services that incorporate alternative data sources and provide more inclusive and accessible credit assessment methods.
For
Rental Industry
The rental industry can explore opportunities to partner with credit reporting services and integrate rental payment data into credit profiles to offer individuals with limited credit history a way to enhance their creditworthiness.
Workshop question
How can your brand better align itself with the goals of its consumer base?
Trend signals
Trend signals for Boosted Payment
Trend score 2.9 out of 10, from popularity 35%, activity 30%, freshness 21%.
Popularity35%
Activity30%
Freshness21%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
South America
Africa
Evidence
Examples of the Boosted Payment trend
4 featured examples from Feb 3 to Nov 1, 2023CategoryBusiness
Credit-Consolidating Finance Apps
The 'StellarFi' App Pays Your Bills & Boosts Your Credit
StellarFi's innovative solutions can disrupt the personal finance industry.
CategoryLifestyle
Credit-Building Finance Features
Credit Sesame Debuts the Innovative Card and Credit Analysis Tool
The credit-building feature by Credit Sesame disrupts the financial technology industry by providing an innovative debit card and credit analysis tool.
CategoryBusiness
Debit-Like Credit Builders
BuildMyCreditScore Helps Consumers Build Credit with Normal Payments
Fintech companies can leverage Open Banking technology to create innovative credit building solutions for consumers.
CategoryMarketing
Credit-Boosting Rental Payments
Bloom Credit Unveils Credit-Building Tool for Renter Payment Data
Incorporating rental payments into credit profiles presents disruptive innovation opportunities in the financial technology industry.
