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NEW YORK, September 16, 2024 – DailyPay, a worktech company and leading provider of earned wage access (EWA), has launched “Credit Health,” a new addition to its award-winning worktech platform. The new product speaks to the company’s mission to support its users’ financial wellness journey, wherever that may be.
Credit Health is a free financial wellness tool integrated within the DailyPay app that allows DailyPay users to stay informed about their credit status, identify potential issues promptly, and make more informed decisions about their overall financial situation.
The need for credit monitoring has never been more relevant. Over 3 in 4 (77%) of American households have some form of debt, and according to the Federal Reserve Bank of New York, total personal debt in the US is at an all-time high of nearly $17.7 trillion. Research shows that more than 47 million Americans’ credit is considered subprime, which means their credit score is lower than what’s needed to get the best possible interest rates. From being unable to buy a home to paying higher insurance premiums, a poor credit score has a number of pernicious effects on one’s financial life.
“Building credit is a central goal for our users because
