good credit

we believe that people should be able to access affordable credit if and when they need it, so that they aren’t pushed towards high-cost, short term credit that can have huge negative consequences.

For most people, credit has become a part of everyday life. But when we need a loan, a mortgage or a credit card, not everyone is able to get credit at an affordable price under fair conditions. Differences in credit need, and in the options available on the high street, create vast inequalities between regions, towns and even streets.

Good Credit Index

Demos’ annual Good Credit Index measures access to affordable credit across the country to understand these discrepancies at a granular level, and inspire place-based approaches to tackle them.

Now more than ever, people across the country are finding their finances stretched and need support to get back on track. Whether they’re facing a sudden drop in income, job insecurity or benefit delays, it can be tempting to borrow money, at any cost, to make ends meet.

But if people can’t access affordable credit, circumstances may force them to turn to short-term, high cost credit that is unaffordable.

Missed payments and soaring interest rates then keep people in a cycle of bad credit from which it is difficult to escape.

Good Credit Toolkit

Our Good Credit toolkit shares the learning from a financial inclusion initiative in the Sheffield City Region. It sets out practical tips, supported by case studies from the public, private and voluntary sectors.

Local authority leaders and metro mayors can use the toolkit to tackle financial exclusion and boost resilience, as part of rebuilding local economies and strengthening communities in the wake of Covid-19.

Good Credit Guidance

Click here for specific guidance for employers, housing associations and ALMOs, and local authorities to boost financial resilience among staff and customers.