Justin Zeidman

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Justin Zeidman is AVP of Open Banking at Navy Federal Credit Union.

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They didn't have a lot of deposits on the books with us. On average we saw $700 … you're asking them to shove over 75% of their savings, just so they can establish credit. I know it's no secret secured credit isn't the most profitable place to play, but when you think about the lifetime value of being the first issuer to lend to someone — and then the value of that loyalty over the course of years and years — for us it made a lot of sense.
Late or missed payments can seriously hurt your credit score.

Media

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article

10 Common Credit Card Mistakes You’re Making and How To Stop

"Late or missed payments can seriously hurt your credit score," said Justin Zeidman, head of credit card products at Navy Federal Credit Union.
article

Why more issuers see profit in secured credit cards

Justin Zeidman, head of credit card products at Navy Federal Credit Union, said his company took a renewed interest in secured credit cards after seeing fintechs encroach on that market.
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Even high-income consumers are feeling squeezed by credit card debt

Justin Zeidman, manager of credit card products for Navy Federal, says what makes the firm’s offer attractive to debt-strapped consumers is the fact there is no balance transfer fee that is charged by most balance transfer cards.

Employment

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Justin Zeidman | Source | AVP of Open Banking at Navy Federal Credit Union