JPMorgan, Others Plan to Issue Credit Cards to People With No Credit Scores - WSJ

part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow.

What a wonderful government program! People “lack opportunities” to borrow, so they come up with an on-ramp to get people into one of the worst banking products on the market. Thanks, government!

Some 53 million adults in the U.S. don’t have traditional credit scores, according to Fair Isaac Corp. , the creator of FICO credit scores. Many are often limited to payday loans and other costly forms of credit.

Or maybe they just don’t want to use credit?