Anyone can use a Consulytica alternative credit report to provide a lender with more information about their creditworthiness. Some individuals and businesses may use a Consulytica credit report because they may have poor traditional credit. Some others don’t have traditional credit history at all. But for everyone, alternative credit offers a broader picture of just how responsible and credit worthy you are.
Thin credit file or no credit history?
If this applies to you, you’re not alone. In fact, 26 million Americans -about 10 percent of the U.S. population – have no credit history with the big three credit reporting agencies.
There are many reasons why you may have thin-file or no-file credit. Some reasons you may not have a traditional credit history:
- You've never had a loan or credit card in your name
- You haven’t used your credit cards often enough to build up a lengthy history.
- You’ve only had one credit card throughout your life.
Not having a credit history doesn’t indicate that you have excessive spending habits or good ones, but not having one could still negatively affect your credit score. For example, if you don’t have credit at all, lenders won’t have any information to go on. That means they’ll have no way of telling whether you’re a risky customer or reliable one.
Some individuals may have a thin-file credit report or no credit history at all due to the following:
- Past credit problems can have an affect the present.
- Young people and/or students often don’t have an extensive credit history.
- Moved to a new country? Most Likely your history won’t follow.
- Consulytica can assist by giving you an alternative score.
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