According to The Wall Street Journal, major U.S. banks are preparing to revise the way credit cards are issued. They will be available even to customers who do not yet have a credit history.
The decision to issue such cards will be based on an analysis of Americans' bank accounts.
To date, credit cards have been issued only to customers who have a positive credit history. Because of this, not all Americans could get them.
More than 50 million Americans reportedly have no credit history. It is expected that the pilot project can be launched this year. It will involve 10 American banks. They will exchange the necessary information on current and savings accounts of the Americans.
JPMorgan will become the first bank that will give credit cards to clients who have accounts in other banks.
When discussing the issue, some banks noted the risks involved. They are related to data protection, as well as to reassessment of customers' solvency.