An Overview of Credit-Building Products

Alexander Bruce and Simona Hannon

No 2024-12-06-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: 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.

Date: 2024-12-06
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2024-12-06-2

DOI: 10.17016/2380-7172.3679

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