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Chapter 3. Improving Your Score—The Right Way > Credit Scores Without Credit

Credit Scores Without Credit

Lenders know there's a big market of the “credit underserved”—people with nonexistent or thin credit histories. Fair Isaac estimates that more than 50 million Americans either have no credit bureau files or have too little information in their files to generate a classic or NextGen FICO credit score.

Some mortgage lenders have been experimenting with ways to tap that market by using new approaches to gauging creditworthiness, such as monitoring whether an applicant has paid rent or utilities on time.


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