On April 22, the CFPB published a research report examining how consumers who share credit accounts, often with household members, differ from consumers who do not. The report introduces the concept of “credit-linked consumers,” defined as individuals who share at least one credit tradeline, reside in the same census tract, and are within 10 years of age of each other. According to the report, approximately 38 percent of consumers with a credit record met this definition as of June 2024, a share that has remained stable since 2009. The report highlights structural limitations in credit bureau data and suggests that household-level analysis may be necessary to more accurately assess consumer debt and financial risk.

The report also found that focusing solely on individual credit records may understate household-level debt burdens because it does not fully capture shared financial obligations. For example, the CFPB stated that approximately 13 percent of credit-linked consumers have student loans on their own credit reports, but nearly 22 percent have at least one student loan when considering the linked consumer as well. Similarly, according to the report, about 52 percent of consumers with a mortgage share that mortgage with another borrower, compared to about 31 percent of consumers with credit cards who share a card account. The report contends that credit-linked consumers generally have better financial outcomes than unlinked consumers, finding that the average credit score for credit-linked consumers was approximately 748, compared to 690 for unlinked consumers and that credit-linked consumers also had lower credit card utilization rates and lower rates of delinquency across auto loans, mortgages, and credit cards. The report notes that these differences persisted even when comparing credit-linked and unlinked consumers who have similar types of credit.