Millions of U.S. households struggle to access credit to manage expenses and pursue long-term goals. As a result, many consumers are turning to poor-quality, subprime credit sources. The Financial Health Network is actively working to find solutions to these challenges, so that more Americans can obtain the credit they deserve.

Understanding Credit and Financial Health

In our credit work to date, we have uncovered several key findings:

  • Access to high-quality credit helps consumers manage budget volatility and cover unexpected expenses.

  • Credit can also support broader financial opportunities, helping consumers pursue long-term goals, like owning a home.

  • Proving creditworthiness is difficult for people without an established credit history or a non-prime credit score.

  • Banks are well-positioned to help solve these credit issues by offering small-dollar credit products and other loan options prudently and responsibly.

Data Spotlight



Why Credit Matters to Providers

Access to high-quality credit creates a critical safety net for consumers, helping them manage income volatility and debt levels while creating a foundation for financial health. With many consumers struggling with student loans, medical bills, and other forms of debt, industries across the spectrum have an opportunity and responsibility to develop sustainable solutions for credit and debt management.

How We Can Help

For more than a decade, the Financial Health Network has been a leading voice on expanding high-quality credit to more Americans. Our Compass Principles offer a framework to help providers design better credit products. In addition, we continue to explore new solutions for improving credit access, such as making greater use of alternative credit data.

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