‘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.