Why we score?
To ensure the quality and safety of our service, we analyze all the applications in order to avoid two things
Defaults
Fraud
How we generate credit scores?
It starts when you register and send us your information.
Your submitted documents helps us to know you better. We use these to verify your identity and collect data from several publicly available sources.
These data have thousands of variables related to your identity, residence, education-institution / work-institution as well as your purchase, credit and payment history
And if you were referred by friend who already has a Redcarpet Ruby Card, that also counts on your analysis.
Based on that information we build a credit score for each applicant.
Result of credit scores
Once we cross-reference all of the data and run various tests, the applicant is classified in one of the 3 groups.
Applicants who can be be approved immediately will be invited to activate their Redcarpet Ruby Card.
Applicants who cannot be approved at the moment will be moved to waitlist. Over the next 90 days we may reanalyse and rescore these applications, and inform about subsequent approval.
Applicants who can not be approved due to unavailablity of our service in their region. We may rescore these applications over the next 6 months and inform about subsequent approval.