It is nothing new to use bank account information to help make lending decisions for those with little or no credit, banks have been doing that with their own deposit customers for years.

Matt Schulz

There is no question there is a bit of a divide going on here, you have an awful lot of Americans who are doing pretty well and have been paying down debts, and an awful lot who are really, really struggling. The weird thing is, because of government stimulus and widespread payment deferrals, both groups may have credit that looks like they are doing well.

The scores will come down, there is no way, barring significant government stimulus in the future, that unemployment can stay really high and credit scores remain really high. That's not how things work.

With credit card debt, the advice is always to pay more than the minimum, but when it gets down to it and all you can do is pay the minimum, that's not the end of the world.