Experian Go
Empowering credit invisibles in the USA
The challenge
How do people with no credit history obtain credit?
It’s hard to get credit without a credit report. But it’s also hard to build a credit report without credit.
Millions of consumers in the USA are ‘credit invisible’ because lenders can’t verify their identity or assess their creditworthiness based on a credit history.
Unable to access mainstream credit at fair and affordable rates, they can face higher interest rates or pay a premium to access essential services. They may be forced to turn to unregulated lenders for loans.
28 million consumers are ‘credit invisible’ in the USA.
Our solution
Experian Go helps ‘credit invisibles’ create their credit profile in just a few minutes. All they need is their government-issued ID, Social Security number and a ‘selfie’ to authenticate their identify.
They can then choose to add positive data – such as on-time payments from rent, streaming services, utility bills or insurance premiums – to their profile using Experian Boost. This helps some consumers go from invisible to scorable in just one session.
Once their Experian credit report is established, they can start building and growing their credit. They can access credit cards, car finance and personal loans, often at much lower interest rates.
Impact
Around 210,000 people have used Experian Go to create their credit report
Experian Go was recognised as a World Changing Idea at the Fast Company Awards in 2023, following similar recognition for Experian Boost in 2022.