Mercury® Financial Demonstrates Leadership in Financial Inclusion, Surpassing $2.0 Billion of Near Prime Credit Card Balances
Disciplined, data driven approach results in high credit quality portfolio
WILMINGTON, Del.–(BUSINESS WIRE)–Mercury® Financial, LLC, a financial inclusion technology leader exclusively serving the near-prime market with credit cards, announced today that it has achieved another milestone, with customer loans topping $2.0 billion. The company’s advanced technology, experienced credit card team and disciplined approach enables Mercury® Financial to help more customers achieve their financial goals.
“At Mercury® Financial, we are on a mission to help hardworking Americans in the near-prime market to manage their credit responsibly, so they can enjoy the benefits of having better credit and better lives,” said James Peterson, CEO of Mercury® Financial. “We’re committed to expanding financial inclusion through technology, providing cardholders with an unmatched credit experience that is backed by our tenured team and superior customer service.”
“Mercury® Financial undertakes a judicious, data-driven approach as part of its operating strategy, allowing us to help our customers,” said Marge Hannum, Chief Risk Officer of Mercury® Financial. “We continue to leverage our proprietary pre-approved selection process combined with prudent underwriting and effective servicing to maintain our commitment to credit quality.”
A new Attitude & Usage (A&U) Survey, conducted by Socratic Technologies, Inc. on behalf of Mercury® Financial, found that over the last year a majority of near-prime consumers wanted help to ensure they are doing the right thing to improve their credit. With nearly 36 million Americans in the near-prime market, this highlights a clear need for the financial support that Mercury® Financial provides to an often-overlooked sector. The purpose-driven fintech has extended more than $4.7 billion in credit access.
“Mercury® Financial’s track record of success can be defined by disciplined execution and a customer-focused culture,” Hannum continued. “In addition to helping our cardholders move towards a better financial future, Mercury® Financial provides zero fraud liability, free credit scores and offers cash back rewards, features that are valued by the near-prime customer segment.”
“We help customers further develop their credit by providing them with access to appropriate credit lines and personalized solutions. As Mercury® Financial continues to grow, our commitment to customers, no matter where they are on their financial journey, is what drives us,” added Peterson. “It is important that our customers are not only supported in their path towards better credit, but that they are also provided with rewards and opportunities.”
About Mercury Financial
Mercury® Financial LLC (Mercury Financial) is a mission-driven fintech that is expanding financial inclusion, helping hardworking Americans to build better credit so they can enjoy the benefits of a better life since its founding in 2013. Backed by advanced technology, the company provides customers access to more than $4.7 billion in credit lines. Mercury Financial offers customers in the near-prime market best-in-class credit lines and a customer-first experience, including financial tools that help customers manage their credit responsibly as they maximize their purchasing power. The company offers various credit card products which are issued by First Bank & Trust, Brookings, SD, pursuant to a license by Mastercard® International Incorporated or Visa® USA Incorporated. To learn more visit mercuryfinancial.com.
Contacts
Jacqueline Zygadlo ([email protected])
