‘Alternative’ Credit: Your Scores Still Matter

Startup and traditional lenders alike are looking for the new prize: creditworthy people who don’t have good credit scores.

To find them, companies are experimenting with all kinds of alternative data that’s typically not part of credit reports, such as utility bills, social media posts and how often you change your address.

In addition, some online lenders proclaim they don’t use credit scores in their decisions or don’t have a minimum score requirement.

In my latest for NerdWallet, why thinking credit scores no longer matter could be an expensive mistake.

Related Posts

  • Why traditional credit scores still matter Researchers and startups say all kinds of weird data can predict your creditworthiness. What kind of smartphone you have, who your friends […]
  • Find a better credit card Dear Liz: One of my credit cards offers mediocre rewards — mainly an online store where I can use points to buy products I don't really […]
  • My FICO score is 846. And 796. And 878. And… One of the most persistent credit scoring myths is that you have one. You don't have one, you have many, and they change all the […]
  • Q&A: Where to find FICO scores Dear Liz: I’m looking to buy a car and I’d like to see the FICO scores that lenders use. I already visited MyFico.com, but I want another […]