Charlotte based LendingTree, one of the largest, most experienced financial marketplace for loans, credit cards and insurance, recently announced a new commitment to a completely reimagined customer experience for anyone actively involved in improving their personal finances.
As per the source, the new brand positioning and redesigned experience comes after months of extensive research and listening to tens of thousands of consumers about their experiences to better understand and address the financial needs of Americans today. According to LendingTree research, 83% of credit cardholders are feeling the negative effects of inflation on their monthly budgets and expenses, forcing many to rely on financing to make ends meet. Nationally, rising APRs are causing new mortgage payments to increase by an average of over USD250 per month, or more than USD100,000 in interest over the lifetime of the loans. In a new survey by LendingTree, 70% of Americans believe a recession is looming, yet more than two-thirds (68%) of Americans don’t feel financially prepared for one.
LendingTree has reportedly found that shopping around for a mortgage and choosing the lowest offer could save borrowers an average of USD63,151 over the lifetime of the loan, as offered interest rates can vary greatly by lender – even more so in a rising rate environment. A separate analysis found that using a personal loan to pay down credit card debt can boost one’s credit score substantially – an average of 38 points between the month before the loan was originated and when it first appeared on their credit report.
“In this new post-pandemic environment of inflation and economic uncertainty, making smart financial decisions has become increasingly complex. Through our research, we know people are facing unprecedented anxiety about their money and want guidance from established brands they can trust, which is why LendingTree is recommitting to its brand promise,” said Shiv Singh, LendingTree Chief Marketing and Customer Experience Officer. “Consumers aren’t simply looking for a loan, new insurance policy or a savings account — they want a trusted, dependable advisor who is there from start to finish, empowering them with the right advice, the right tools and the right resources needed to make financially sound decisions in every stage of their life.”
