It’s fair to say that those around Presenting Percy hold fond memories of the Cheltenham Festival. A victory in the Handicap Hurdle in 2017 represented a breakthrough moment for the Pat Kelly-trained horse, and this was followed up a year later with a win in the Novices’ Chase.
Last year’s Festival ultimately ended in disappointment for Presenting Percy, as he lost out in the Gold Cup to Al Boum Photo, but 2020 brings a fresh chance for the nine-year-old to make amends for last year’s disappointing eighth-place finish in the same race. Although Al Boum Photo is fancied to retain the Gold Cup in the latest Cheltenham Festival Gold Cup betting odds alongside favourite Santini, Presenting Percy could be an interesting outside bet.
Kelly’s horse has had a disappointing year since the 2019 Festival, failing to win in three outings, and the horse who was last year’s favourite for the race has fallen from grace slightly in the intervening 12 months. A third-place finish in the John Durkan Memorial Punchestown Chase in December was followed by further disappointments as Delta Work won the Savills Chase at Leopardstown and the Irish Gold Cup at the same venue.
It would be easy to write Presenting Percy off ahead of this year’s Gold Cup, but that would be ignoring the qualities the horse has shown in the past, in those early-career wins at Cheltenham and other successes along the way. It’s clear that he still has something to prove at the top level, and Kelly will be hopeful that he can return to top form in the Cheltenham showpiece.
Presenting Percy’s poor form has left owner Philip Reynolds scratching his head as to what has gone wrong, and admitted he expects his horse to be more competitive than he has shown.
Speaking before the Irish Gold Cup, in which Presenting Percy would ultimately finish third, Reynolds said: “The truth is I came away disappointed after the Savills Chase. I know he was only beaten four lengths, but it was more the manner of the defeat than the distance. I expected him to show up better and again that’s another reason why we’re going back as I think he’s better than that, we might ride him slightly differently and I genuinely expect him to be more competitive than in the Savills.”
Perhaps it’s simply bad fortune that Reynolds, Kelly and co. have come up against Delta Work, a horse in tip-top shape in Presenting Percy’s last two entries. Gordon Elliott’s horse is currently third favourite for the Gold Cup, but the hope in the Presenting Percy camp will be that the nine-year-old is building towards a landmark performance, the like of which would reassert his champion qualities.
Likely jockey Davy Russell perhaps holds the key in all this. Russell has, of course, won the Aintree Grand National two years running with Tiger Roll, and that kind of nous and experience will undoubtedly play a big role if Presenting Percy is to make his way back into the winners’ enclosure.
They say that winning is a habit, and while Presenting Percy and those around him have not tasted victory for a while, they’ll be hopeful that the ability which defined the horse’s earlier years is still somewhere beneath the surface, waiting to burst forth in a Gold Cup winning performance.
How Conventional Scores Are Stopping Most Millennials From Accessing Credit and How One Company Is Changing That
Credit scores are a barrier to entry for just about everything for millennials. Trust Science® is taking new metrics into account to expand access to credit with Credit Bureau 2.0®
What’s Keeping Millennials From Accessing Credit?
The concept behind a credit score seems simple enough. It tracks your credit history to see if you’re someone that a bank or lender can trust to pay back a loan. However, conventional credit scores just don’t account for the way that millennials and Gen Z handle their finances.
Even where a person would be fully capable and reliable in paying back a loan, the lack of an established credit score can prevent them from accessing credit, or at least from getting as much as they should be able to. That leaves millennials without an on-ramp into the modern economy and it can also jeopardize access to other “credit gated” necessities like housing.
The way that conventional credit scores are calculated is complex but boils down to 5 essential metrics:
- Payment history
- Amount owed
- Length of credit history
- Credit mix
- Hard credit inquiries
You can start to see the issue for millennials when you look at what data goes into their credit scores. For one thing, younger people don’t have a long credit history. Even without other factors, simply being young and only having had so much time to build credit puts them at a disadvantage. However, millennials have also been tending to establish credit later in life compared with previous generations, putting them at a further disadvantage.
The most significant issue here is the credit mix. Different types of credit affect credit scores differently, and millennials generally don’t have a favorable mix. While they might have a credit card or two, they generally don’t have mortgages. These are the most beneficial type of credit to have on your credit report, and millennials really have that going against them.
The student loan crisis also plays a big role. Young people today have much higher student loan debts than previous generations, meaning they have a great amount of credit owed. Not only that, but many can begin to fall behind on payments and see that amount grow. This can quickly send a credit score spiraling out of control.
Student loans aren’t the only threat. When young, some people make poor decisions. They could find themselves making credit mistakes very early on and suffering the fact that those mistakes can haunt their score for seven years in general. That means someone at 25 is still paying for a mistake made at the age of 18, even if they’ve been on the up and up ever since.
It’s clear that conventional credit scores weren’t designed with the current landscape in mind and that young people are being negatively affected. But what exactly can be done about this? One company is changing the way that lenders look at creditworthiness to make it possible for millennials to mitigate these issues.
How Credit Bureau 2.0 Fixes Those Problems
Trust Science is an innovative fintech company that has developed Credit Bureau 2.0, a scoring service that acts as an antidote for lenders, offsetting the problems posed by conventional credit scores. Instead of seeing a lack of credit history, a few negative issues from years ago, or a poor credit mix and ending any credit application, Credit Bureau 2.0 considers a wealth of additional data to generate a more accurate credit score.
Credit Bureau 2.0 expands the data used to calculate credit scores, getting the borrower’s consented, permissioned data and/or acquiring Alternative Data in order to reach a more accurate credit score. For example, those applying for credit can use Trust Science’s Smart Consent™ app to divulge their information safely and confidently to Trust Science, which is working on behalf of the lender that is trying to reach a decision about the borrower. By doing so, young people or other people without a credit history in-country can let prudent financial decisions in other areas of their lives demonstrate that they’re trustworthy for greater credit.
The service is available to a wide variety of lenders, including auto lenders, installment lenders, and single-repayment lenders. It’s in their best interest to find more reliable, deserving borrowers to give loans to, so Credit Bureau 2.0 benefits both sides of the transaction.
Trust Science CEO Evan Chrapko says that “Credit Bureau 2.0 isn’t just about giving borrowers access to more credit than they would have had otherwise. It’s about recontextualizing financial data to give both sides–lenders and borrowers–a more accurate and reliable way to enter into loans in the modern economy.”
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