1-Click Credit Cards – credit union defined, member initiated

Credit unions on the cuasterisk.com network are taking advantage of a smart new internet retailer approach to expanding their loan portfolio. 1-Click Credit Cards is a feature of the CU*BASE loan origination system that adds a complimentary, “hands-free” credit card opening solution to yesterday’s traditional member-generated application process. The traditional method isn’t going anywhere, but the new method gives lenders a “set it and forget it” way to support their members’ credit needs.

So, what is this feature and how does it work? Quite simply, 1-Click Credit Cards lets credit unions use their member data to proactively offer qualified members a new credit card with no application required. The credit union sets the parameters, and if the member meets the criteria, they can accept the offer through online or mobile banking. Some examples of qualifiers include members 18 or older, credit score is between X and Y, and not currently delinquent. These parameters are completely customizable based on risk tolerance. Accepted offers appear in the CU*BASE lending queue for team members to follow up with card orders and any necessary follow-ups.

This unconventional approach is gaining traction and giving lenders a clever edge in the market. As of late April 2021, CU*BASE credit unions have cumulatively issued roughly $7.7 million in new credit card limits, and that was made up of just under 2,500 credit card offers accepted. To learn more, visit the CU*Answers store.