An Overview of Credit-Building Products
Credit-building products are secured small-dollar products that allow consumers to either establish or improve their credit scores by having lenders report their payment activity to credit bureaus. Examples include secured credit cards or loan products such as credit-builder and passbook loans.
Authors
- Simona M. Hannon
- Alexander Bruce
Institutions
- Federal Reserve (US)
- Federal Reserve Board of Governors (US)
Publication Details
- Journal
- FEDS Notes
- Published
- 2024-12-01
- DOI
- https://doi.org/10.17016/2380-7172.3679
- Primary Topic
- Banking stability, regulation, efficiency
- Type
- article
- Field-Weighted Citation Impact
- 0.00