Sign Up
Stories
Boosting Borrowing Capacity Through Credit Scores
Share
App Quality and Credit Card Choice: Key ...
Consumer Loan Complaints Surge
Consumers Opt Out of Credit Cards to Avo...
Payments Innovation Lowers CU Member Chu...
Overview
API
Improving credit scores significantly enhances borrowing capacity, allowing consumers to access lower interest rates, increase their borrowing capacity, and improve their financial stability. Nearly 30% of consumers in the United States have credit scores of 650 or less, denying them access to credit products. Attaining a super prime score of 720 or above could significantly decrease interest payments and increase borrowing capacity.
Ask a question
How can financial institutions and credit product providers effectively promote credit education and counseling to deep subprime consumers?
In what ways might the enhancement of credit scores impact the overall financial landscape and consumer spending habits?
What are the potential implications of the correlation between credit scores and credit knowledge on financial stability and economic inequality?
Article Frequency
0.2
0.4
0.6
0.8
1.0
Sep 2023
Oct 2023
Nov 2023
Coverage