Centre for Responsible Credit

Researching the impact of credit reference agency messaging






November 2023 to November 2024




Project Summary

Researching the impact of credit reference agency messaging, which emphasises the importance of maintaining ‘good’ credit scores, on the financial behaviours of low to middle income households during the cost-of-living crisis.


The FCA’s recent credit information market study (2022 interim report) reveals problems with the quality of information provided by credit reference agencies and proposes major reforms: including by addressing inaccurate information; putting in place standardised reporting procedures, and proposing a new governance structure, with consumer representation.

Project Overview

Centre for Responsible Credit will research how different degrees of sensitivity to credit scores is impacting the financial decision-making of lower income households in financial difficulty, and whether this is resulting in negative welfare impacts, including whether it is deterring them from contacting their lenders and/or seeking debt advice. CRC will make proposals for change to messaging, regulation and market oversight.