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.
Today’s top story: How to tank your good credit. Also in the news: What to buy (and skip) this month, why US schools are getting a failing grade for financial literacy, and the top tax mistakes made by Millennials.
