At CreditVisible, we empower financial wellness for consumers across the country as they begin their journey to establish credit. We are creating a world where financial health and learning is safe and accessible to everyone – giving people the freedom to pursue their dreams.
CreditVisible FWA® (Financial Wellness Assessment) is a tiered model based on eight payment categories: rent, utilities, subscriptions, medical bills, overdraft occurrences, after-pay, childcare, and extracurricular activities. Our groundbreaking algorithm provides a precise and accurate analysis of consumer behavior and their everyday recurring payments.
To provide a financial wellness assessment model that helps credit issuers expand their customer base and supports individuals who lack established credit in their journey to financial freedom.
A financial services industry that provides an even playing field to everyone, helps close the wealth gap, and embraces a broader assessment of credit worthiness.
4 Pillars to Financial Wellness:
- Provide financial literacy and health to millions of consumers across the country
- Leverage data and innovation to develop a credit-decision model that reaches all consumers
- Expand credit access and increase inclusivity by assessing consumers where it matters to them most
- Provide banks and lenders entirely new financial data and open doors to our country’s credit invisible customer base.
Our co-founder was 23 years old when she set out to rent her own apartment. Even though she lacked credit history, the landlord took a chance on her and decided to rent to her anyway. She offered her advice: open a credit card and establish some credit.
She has had a bank account since she was 15 years old. A bank employee tried to get a credit card approved for her and it was repeatedly denied. After he fought for her for 2 days, he finally got her approved for a credit card worth $500.
Growing up, she was told to put all of her utility bills in her name throughout college because it would help establish credit later in life, however, she found out that wasn’t the case. On the contrary, these bills could only hurt her credit.
We know first hand that the current credit scoring models are flawed. How can you establish credit if you don’t have any existing credit? What if you don’t have family members who can help you?
At CreditVisible, we know that good payments such as paying rent on time, utility bills, subscription services, and medical bills, demonstrate creditworthiness.