Which consumers will benefit most from lenders use of FICO Expansion scores?
According to Fair Isaac research, approximately one-fourth of all adult U.S. consumers either lack credit reports entirely or have credit reports with too little information for making a good prediction of credit risk. Since an estimated 215 million consumers are believed to be credit-eligible in this country, roughly as many as 50 million individuals may benefit from the use of FICO Expansion scores. These include immigrants, young adults, people who are recently divorced or widowed, and potential customers that typically don’t use credit.
