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