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: As owner of Strong Automotive Merchandising, a company that increases traffic up to 1,000% for dealerships, Strong lives by the simple concept that your attitude affects your success. Without a positive mind set he would not have been able to grow the company over the last decade from just 10 to over 80 full-time employees. The rapid growth is thanks to his ability to keep the company on the forefront of technology, market changes and an infectious talent to motivate and keep employees striving to fulfill their potential. His beginnings in direct mail gave him the tools and skills to develop incredibly successful marketing plans. From there he moved on to traditional forms of media and has now mastered the dynamic world of digital and social media advertising. With over 165 dealers to please, Strong takes a hands-on approach and personal attention to detail in all aspects of marketing strategies. His expertise in plan development gives him a keen sense on how to maximize a dealer’s budget and ultimately increase their bottom line. Strong is a passionate speaker in the automotive industry. He has authored two books on creating next day traffic. He graduated from the Executive Education Program at the Harvard Business School. Strong received a B.A. in Communication Studies from the University of Montevallo. He lives with his wife and three children in Homewood, Alabama.


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