Can Alternative Data Expand Credit Access?

Over 50 million US adults don’t currently have FICO^® Scores because of sparse or old data in their credit files, or because they lack a credit file all together. Can scoring help lenders safely and responsibly extend credit to these consumers?

New FICO research says yes-but only when credit bureau data is augmented by the right alternative data. This white paper presents key research findings showing how:

• Scoring more people without more data harms consumers and creditors
• Unscorable credit applicants are not all alike
• Alternative data scoring releases millions stuck in a credit catch-22
• Millions score high enough to qualify for credit, with most going on to improve their credit status