Secured Credit Solutions
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Assessing Credit Accessibility for Disenfranchised Consumers
The ability to access credit represents more than a mere convenience — it has become a necessity in today’s economy. However, 16% of U.S. consumers find themselves without a credit card. This situation disproportionately impacts those with lower incomes or without a college education, with each cohort accounting for about 1 in 5 consumers overall. This lack of credit access limits these consumers’ financial flexibility and restricts their ability to participate fully in consumer spending, which could otherwise enhance their lifestyles. More importantly, credit cards can offer a lifeline during emergencies. For many consumers, especially those burned by bad experiences with credit in the past, controlled credit programs can provide a vital structure to support rebuilding their credit and managing their finances without overextending themselves.
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