Individuals of color are disproportionately prone to report dismal credit.

Individuals of color are disproportionately prone to report dismal credit.

Our study discovered that households of color are in a disadvantage that is serious it comes down to credit rating. The opposite is true for African Americans while the majority of low- and middle-income white households with credit card debt report good or excellent credit. Sixty-five % of white households within our test explain their credit ratings of the same quality or exceptional, a lot higher compared to the 44 per cent of African US households who identify into the good or categories that are excellent. On the other hand, over 50 % of African American households get into the product range of reasonable and dismal credit. Among households with personal credit card debt whom understand their credit rating within a variety, simply 15 per cent of white households within our sample have actually credit ratings below 620, when compared with significantly more than a 3rd of African US households. (más…)