SCOTTSDALE, Ariz—Banks and credit unions could recapture $110 billion in deposits and generate more than $1.5 billion in interchange fees by integrating credit reporting capabilities into their checking and payment accounts, a new report from Cornerstone Advisors reveals.
The report, Credit Score Management: The $110 Billion Deposit and Payments Magnet, commissioned by Bloom Credit, reveals that a credit-building feature could entice consumers with subprime or near-prime credit scores to change bank accounts and alter payment behaviors.
The study found that six in 10 Americans ages 21 to 44 with credit scores between 580 and 670 consider credit building the most appealing feature of a checking account. They said an account that reports rent and bill payments to credit bureaus—helping boost their credit score—offers a “better value” than their current checking or debit card account, Cornerstone explained.
Credit scores largely focus on how consumers handle debt, offering little benefit for consistently making recurring bill payments, the company said.
“Helping consumers establish and improve their creditworthiness by demonstrating how they handle debt and make payments is an enormous opportunity for banks and credit unions in their markets,” said Ron Shevlin, chief research officer at Cornerstone Advisors and co-author of the report.
The study found that among subprime and near-prime consumers:
- 73% would consider opening a new checking account if it helped them build their credit by reporting rent and utility payments to the credit bureaus
- 79% would use a non-primary checking account more frequently to pay bills and make other
purchases if it reported their rent and bill payments to the credit bureaus
- 68% would switch their direct deposit to a non-primary checking account if it reported rent and bill payments to the credit bureaus
- 70% said if the financial institution that turned them down for a loan or credit card had offered them a free service to help them build their credit, they would have used it
“A checking account with integrated credit reporting translates to improved credit product access, affordability, and selection for consumers,” said Christian Widhalm, CEO, Bloom Credit. “These are tools that can spell differentiation for financial institutions and lead to superior financial service relationships.”
Credit Score Management: The $110 Billion Deposit and Payments Magnet is based on a Q2 2025 survey by Cornerstone Advisors of 1,846 adult consumers in the United States with a subprime or near-prime credit score. It presents a business case for integrating credit reporting into checking accounts and offers recommendations to help financial institutions successfully capitalize on the opportunities.
Click here to download the report.