43% Of Robinhood Users Have A FICO Below 650, Have Increased Investment By 2x In Spite Of Pandemic

One obvious reason is that Robinhood has made it easier than ever to invest. Sure it’s not the only app-based trading platform on the market, but of the major players, it’s the one best-known for being an app-based trading platform. The name “Robinhood” is synonymous with mobile trading.

Robinhood also lacks a certain perceived socio-economic barrier that the E-Trades and Schwabs of the world might present. Robinhood’s ease of access and relative youth (compared to other platforms) are welcoming to non-traditional stock traders — people with less disposable income for investing and to pay advisors.

This combination of ease-of-use and perceived accessibility likely make Robinhood a more attractive platform to lower-FICO score users, who are traditionally less educated and who earn less than their higher-credit score counterparts.

Lastly, Robinhood, as discussed in the WSJ article mentioned above represents, to some, an opportunity to get out from under debt. Millennials, who make up a large share of Robinhood’s users, have on average $28,000 in debt in a world where wage stagnation has made paying debt down more difficult than ever. To people in this situation, the promise of returns on investment provides hope of debt relief.


The transaction-related data used in this report was collected from 1.5 million unique transactions made by 4,978 Stilt users between February 1, 2020, and Jan 28, 2021. All credit score-related data was collected from the same Stilt users during the same period.

The findings of this report are based on an analysis of that data. Credit score statistics were determined by averaging all investment amounts in specific credit score ranges (less than 650, 650 to 750, and greater than 750) during the dates noted above.

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