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—such as for rent and bill payments–into their checking and payment accounts, according to new research from Cornerstone Advisors.
In its new report, “Credit Score Management: The $110 Billion Deposit and Payments Magnet,” which was commissioned by Bloom Credit, Cornerstone Advisors said it found a credit-building feature could entice consumers with subprime or near-prime credit scores to change bank accounts and alter payment behaviors.
According to the study, six in 10 Americans aged 21 to 44 with credit scores of 580 to 670 ranked credit building as the most attractive checking account feature and said that a checking account that reports rent and bill payments to the credit bureaus, thereby helping them improve their credit score, is a “better value” than their current checking or debit card account.
Little Benefit
Credit scores largely focus on how consumers handle debt, offering little benefit for consistently making recurring bill payments, the analysis added.
“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,” Ron Shevlin, chief research officer at Cornerstone Advisors and co-author of the report, said in a statement.
The Findings
According to Cornerstone, 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
‘Tools That Spell Differentiation’
“A checking account with integrated credit reporting translates to improved credit product access, affordability, and selection for consumers,” Bloom Credit CEO Christian Widhalm said in a statement. “These are tools that can spell differentiation for financial institutions and lead to superior financial service relationships.”
About the Report
Cornerstone Advisors said 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,” the company said.
It can be downloaded for free here.
