What does credit invisible mean?

Credit invisible refers to a person who doesn’t have any records through a nationwide credit reporting agency, including <a href="https://www.transunion.com/" target="_blank">TransUnion</a>, <a href="https://www.equifax.com/" target="_blank">Equifax</a> or <a href="https://www.experian.com/" target="_blank">Experian</a>.

Why might an individual be considered credit invisible?

If someone is new to the country and has not yet opened a bank account with a credit line, they’re younger and have never had prior experience with credit, or have simply not used credit for any significant period of time for another reason, they might be considered credit invisible.

How many Americans are credit invisible or unscorable?

There are 28 million Americans considered credit invisible and an additional 21 million Americans considered credit unscorable.

How many people in the U.S. have no credit history?

Currently, 45 million Americans do not have a credit history.

What does it mean to be credit unscorable?

Credit unscorable individuals can fall into one of two categories, either they have too few accounts or haven’t provided enough information to obtain a credit score, or they haven’t had any recent credit activity, and their records are considered “stale."

What other factors contribute to credit invisibility or unscorability?

Age, ethnicity and geographical location all factor into credit invisibility and unscorability, with younger, Black Americans in rural areas accounting for the largest percentage of invisibles.

How Many People Are Credit Invisible in the US?

Name: How Many People Are Credit Invisible in the US?
Item: How Many People Are Credit Invisible in the US?
Author: Chris Lacagnina

Nearly 50 million Americans are considered credit invisible or unscorable. Learn which factors can increase someone’s chances of falling into one of these categories.

ByChris Lacagnina

Edited byKatrina Raenell

Quality Verified

Updated: March 21, 2024

ByChris Lacagnina

Edited byKatrina Raenell

Quality Verified

Updated: March 21, 2024

Advertising & Editorial Disclosure

About Chris Lacagnina

Chris Lacagnina is a published author and freelance writer with more than 15 years of journalism experience. She has covered many different subjects throughout her career, including just about every type of insurance from the common to the obscure. Her work has appeared in print publications such as AeroSafety World and Frederick Magazine and online on TrustedChoice.com.

Chris holds a bachelor’s degree in print journalism and has a strong passion for learning new subjects. She’s also a published photographer, cat momma and self-proclaimed nerd. When she’s not typing away on her laptop, Chris can be found adventuring in nature, revisiting her favorite retro video games or cuddling her fur babies.

Her published novel is available on Amazon.

sources

The CFPB Office of Research. "Data Point: Credit Invisibles." Accessed May 2, 2022.
Consumer Financial Protection Bureau. "Data Spotlight: Challenges in Rural Banking Access." Accessed May 2, 2022.
OliverWyman. "Financial Inclusion and Access to Credit." Accessed May 2, 2022.

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