Block Reports Its Businesses Have Extended Over $100 Billion in Credit

Block said Monday (May 19) that since the launch of its credit products, it has extended over $100 billion in credit while keeping its loss rates “low.”The company uses a combination of near real-time data, technology and customer-first design, rather than traditional credit scores, Block said in a Monday press release.“More importantly, we’re proving that expanding access doesn’t mean increasing risk,” the release said. “Our loss rates are consistently low, and we’ve shown we can approve more customers tha ...