What are the reasons for an Individual not having a credit history or having very little credit history?
• Applicant is very young and has not yet established a credit history. • Applicant is on a Disability or Income Assistance Allowance and does not have a credit file. • Applicant has been incarcerated for a long period of time. • Applicant has not been able to establish a credit history because of poor/sporadic employment. This is often the case when no credit history is available. • Applicant is a new arrival to the country and has not yet established a credit history. • Applicant has provided you with false information to ensure that you do not find his/her credit history. Many Applicants with poor credit history misspell their name or provide a wrong date of birth. Be aware that this could happen to you and that this is something you should guard against. Look at two pieces of I.D. and request a pay stub or income tax return from the previous year. • Having no credit file is a red flag and further due diligence should be conducted to determine credit worthiness and/or employment wor
