Lenders looking for "Underbanked Consumers" with new Extended View credit score

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Lenders looking for “Underbanked Consumers” with new Extended View credit score

Lenders looking for “Underbanked Consumers” with new Extended View credit score

Calling all new sub-prime suckers out there to take the bait…guess they’re running out?


HuffPO-

The poorest consumers, currently living off the financial grid, may soon be pulled back onto it in an unexpected way.

Experian, a data collection and credit reporting bureau, launched its new credit score, Extended View, on Wednesday. It claims that it could bring as many as 64 million American consumers who don’t have credit scores into the lending fold.

Extended View takes into account a wide variety of information not included in a traditional credit score. That includes everything from payday loan repayment history to rental payment history, and even takes a deep dive into public records — taking into account, for example, missed child support payments.

The Extended View score will be based on a scale similar to VantageScore, which has a range of 401 to 900.

Fifteen lenders are currently considering using the score, Steven Wagner, president of Experian Consumer Information Services, told The Huffington Post. He would not identify which companies they were, but said that among them were both small and large lenders. The company said the score could be used by banks, credit unions and auto lenders, as well as phone and utility providers.

[HUFFINGTON POST]

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CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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One Response to “Lenders looking for “Underbanked Consumers” with new Extended View credit score”

  1. Stan Lipson says:

    Credit scores, Experian, etc – these have been the usury tools of Banksters. If you’ve been badly burned, it is unwise to play with fire again. Paying cash has advantages.

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