Cross River x Current

How Cross River and Current Propel Credit Building with an Innovative Product

Cross River and fintech platform Current have joined forces to address a pressing challenge in the U.S. financial system: the plight of the 26 million underbanked and credit invisible population. This partnership aims to pioneer a path toward financial inclusion through an innovative credit-building product.


Our partner: Current
Current is a premier U.S. fintech platform offering technology-driven, mobile-only financial solutions with a mission to improve financial outcomes for its members. And now, in collaboration with Cross River, Current is expanding access to credit building for communities that have been traditionally unserved or underserved with an innovative secured charge card that allows its members to safely build their credit histories as they spend through a single spending balance to view and manage across credit and debit on the Current platform.

The opportunity: tackling credit invisibility and high costs of credit card debt
In the face of an evolving economy, the challenge of expensive and elusive credit access has intensified. The Consumer Financial Protection Bureau (CFPB) in a 2020 report highlighted a worrying scenario: over 26 million Americans are "credit invisible," with an additional 19 million deemed "unscorable." The report suggested that credit builder loans could be pivotal in helping such individuals establish a credit record or improve their credit scores, especially for those without any current outstanding debt.   

There is nothing that matters more to your financial life than the quality of your credit. Together with Cross River, we can provide millions of hard-working Americans a simple way to build their credit histories and improve their financial futures.

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Stuart Sopp

CEO and Co-founder


In 2023, credit card delinquencies surged, especially for subprime lenders. The rate of serious delinquencies on credit cards by the third quarter of 2023 was 2.45% overall, but for subprime credit card customers, it was 20.79%. In addition, credit card delinquencies were four times higher for subprime customers. A product which may help consumers is a secured credit card that provides everyday Americans with a safe way to build credit while minimizing these risks of debt.

The solution: a pioneering secured charge card

Current leveraged its proprietary banking technology and Cross River's core technology to solve the complexity of multiple accounts on the backend and launched an innovative secured charge card called the 'Build Card', not yet seen in the market.

Features of the Build Card:

  • Issued by Cross River Bank, Member FDIC on the Visa network: This card offers a reliable and widely accepted financial tool.   

  • Connected to members' existing spending balance: Current’s five million members have a single balance to view and manage across credit and debit on its platform. Members can build their credit histories as they spend, while minimizing the risk of debt.  

  • Secured funds that can be used to pay a member’s bill each month, with Current subsequently reporting their on-time payments to TransUnion.

The Build Card provides an affordable way for more people to safely build their credit histories: among other features, the card does not impose annual fees, and does not require deposit minimums, which can drain many everyday Americans of much-needed liquidity.

The impact and prospects

The Build Card's initial foray into credit reporting has been incredibly successful in boosting credit scores for its users. On their first Transunion credit report after using the Build Card, nearly all previously unscored users (99.8%) received a credit score, with 95% of these users receiving a “Good” credit score.  This paints a clear picture of Build Card's effectiveness in building strong credit foundations.

Build Card users who previously had a credit score prior to using the card also experienced equally positive impacts: on average, these users saw an average score increase of 20 points. In addition, half of those members saw a jump of at least 10 points. These results demonstrate Build Card's potential to empower individuals on their credit journey, offering a clear case study for its unique approach to accessible and affordable credit building.

This strategic partnership between Cross River and Current is not just a business endeavor but also a socially responsible initiative aiming to make a tangible difference in the lives of millions of hard-working Americans. By providing a straightforward and accessible way to build credit history, Current is opening doors to better financial futures for what was previously an underserved segment of Americans.

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