As Economy Reopens, 1 In 5 Americans Don't Have A Credit Score

As Americans return to their usual spending habits this summer, many are looking to borrow money on credit or take out loans, but one in five Americans don't have a credit score.

Top American banks like Wells Fargo and J.P. Morgan Chase are planning to send out credit cards to those without scores.

Here & Now's Robin Young speaks with Jill Schlesinger, CBS Business News Analyst and host of "Jill On Money," about the importance of a credit score.

Clarification: Secured credit cards give users a maximum that they can spend every month, not a minimum.