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| how do I get my credit report? free of charge 3 in. the FICO credit check: Consequences for distributors FICO today announces that it is testing a new "alternative data" rating system from Equifax and LexisNexis that will allow credit cards companies to potentially target creditworthy customers who currently have no credit at all. FICO analysts say information such as utilities invoices, telephone invoices and real estate information can be used to capture 15 million of the 53 million non-credit customers and bring them into the broad stream of finance service delivery.

So, what are the effects on the credit marketer? Credit demands are increasing, and as the business cycle continues to strengthen and credit cards continue to have low off-take ratios, credit cards publishers have begun to shift their market strategy. Rather than mainly addressing high FICO value customers, some are now expanding new credit cards for customers with less than excellent credit.

FICO's announcements indicate that there will be more intense competitive pressure for non-prime users in the next few month. Of the 70 million unirradiated/underirradiated US customers registered, many finance institutes have a large interest group. Creditors are required to carry out an assessment that guarantees the creditworthiness of customers. In the past year, FICO introduced its FICO 9 to the market to mitigate the effects of pending and unsettled doctor's fees that have needlessly repressed the results of some people.

There are too many individuals left out of the primary market to be ignored, and as the business cycle continues to improve, more product and solution offerings will focus on the unirradiated/underirradiated area. The Equifax Credit Office is not the only credit agency dealing with alternate information provision. TransUnion last November revealed that it had taken over F2C, a provider of analytical and analytical services to help it gain a more comprehensive view of "non-traditional and undervalued consumers".

" In 2011, Experian began to include rent information in its scores. Marketing professionals can anticipate that offices and other businesses will introduce competitive "alternative data" approaches in the near-term. As with the remainder of the FSU, the credit information business is being disturbed by technical start-ups. Enterprises such as the recently introduced Happy Mango, which provides valuations according to people's incomes, saving and expenses after accessing their bank account, or Lenddo, which works in developing countries to offer a credit valuation on the basis of societal information, question conventional schemes with a view to granting credit to those foreclosed from the present system.

The use of alternate information is not a new approach, but an evolving business ecosystem, a better grasp of big business and the willingness to disrupt create an innovative ecosystem that can drive some of the 70 million unirradiated and underirradiated Americans into the primary stream of finance service delivery. He is a frequent contributor to the Card Forum and other high-profile global trade shows.

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