Callcredit supports APACS data sharing initiative

Callcredit, the credit reference agency, has announced its support of the APACS data sharing initiative describing the move as "an important step towards combating over-indebtedness".

From December behavioural data will be supplied by credit card providers to the three credit reference agencies giving lenders a clearer picture of how customers use their credit cards, allowing them to identify customers who are experiencing financial difficulties.

Callcredit's SHARE database has been updated and the new behavioural data will be available to clients from 1st December 2008.

The new data available will include:

The amount of the last payment made and whether this is equivalent to the minimum repayment requested;

The number and value of cash advances being made on that credit card;

Whether there is a promotional interest rate on the credit card account (which might explain why a minimum payment is being made)

Graham Lund, Managing Director of Callcredit comments, "Callcredit has worked closely with both APACS and credit card providers to ensure the success of this initiative, and the additional data sharing is an important step towards combating over-indebtedness. Now more than ever lenders are looking for greater insight into their customer's levels of debt stress and this initiative goes further to demonstrate the industry's commitment to responsible lending."