How Many Americans Have Bad Credit?

Credit History Bad and Good

Source: By Christine DiGangi Published February 15, 2016 Lifestyle and Budget CreditCards.com Opens a New Window.

Only a small sliver of people have absolutely terrible credit scores, but plain-old bad credit? That’s a lot more common. Nearly a third of Americans have a credit score lower than 601 — the distinction between bad and fair credit Opens a New Window. — according to credit bureau Experian.

While Experian estimates 30% of Americans have poor or bad credit, plenty of people have no credit at all, which has similar disadvantages to having low scores.

Figures from credit bureau TransUnion also say that 30% have subprime credit, based on the VantageScore 3.0 model. Other sources have higher and lower estimates on how many Americans have bad credit (which is understandable, giving how many variables there are in the credit scoring world), but the point here is that a lot of people have bad credit.


About the author

John Paul Strong: For 15 years he has worked solely at the dealer marketing level and has mastered all necessary skills to lead the company in the digital, traditional and direct contact forms of media. The last 12 years have been spent strictly working at the Tier 3 level growing the company to 70 employees and over 125 successful dealers nationwide. Strong works hands-on with most clients and has played a leadership role in all dealerships the company handles. His focus is to insure the traffic created is immediate and measured in car sales for clients. Both employees and clients find his attitude and attention to their business infectious and energizing. Strong is a nationally recognized speaker in the automotive industry, has authored two books on creating next day traffic and is a graduate of the Harvard Business School’s program on Executive Service Firms. He is also a firm believer that “attitude is everything” and that there is only minimal space between being good and being exceptional. Strong earned a bachelor’s degree in liberal arts from the University of Montevallo. John Paul Strong is the owner of Strong Automotive Merchandising.


0 Comments

Would you like to share your thoughts?

Your email address will not be published. Required fields are marked *

Leave a Reply