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Who are the credit invisibles? How to help people with limited credit histories

In 2015, the CFPB published a report finding that 26 million Americans are “credit invisible.” This figure indicates that one in every ten adults does not have any credit history with one of the three nationwide credit reporting companies. The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have no credit history or not enough current credit history to produce a credit score.

This brief highlights the most significant findings from the 2015 report, as well as a checklist of action items to help consumers who are new to credit or looking to rebuild. Credit reports and credit scores play a crucial role in the lives of consumers in America. Fortunately, there are actions people can take to build credit.

Full report

Read the full report