Term: alternative credit
12 found

How to Build Credit Without Going Into Debt

By Steven Shaw on 7/7/2016

build_credit_without_debt

Unless you were born in some remote location and lived off the grid your entire life, it’s not news to you that good credit is needed to function in today’s society. Your credit history is what indicates your trustworthiness to lenders, stores, and even employers and landlords. Bad credit or no credit is a major barrier preventing some from attaining good interest rates or securing a new lease agreement, among other things. There’s really no point in me stressing the utter importance of having a good credit score. That’s a given. But for those of you who fear having outstanding loans, balances on credit cards, or debt of any kind, how does one achieve good credit?

alternative credit
build credit
credit 101

Can I Get a Car Loan With No Credit?

By Steven Shaw on 10/17/2015

Is Your Car Loan Too Expensive?

If you don’t use credit or just started building it, chances are you have no credit file or maybe just a thin one — it’s there, but there’s not much to it. That can leave you with a low credit score or no credit score at all, which may make it difficult to get credit when you need it.

alternative credit
alternative credit reports
auto loan
Car Loan
Credit Card
no credit
no credit score
Secured Credit Card

7 Ways to Build Credit Without a Credit Card

By Steven Shaw on 8/7/2015

build credit

Let’s say you know you want good credit, but you also know you do NOT want the most ubiquitous credit product around. No way do you want a credit card. Perhaps you follow a certain personal finance guru’s advice to avoid them. Or maybe you’ve gotten in trouble with them before and don’t want to take any chances with having one again. Whatever the reason, you don’t want to go the plastic route.

alternative credit
alternative data
build credit
establish credit
non-traditional credit

New FICO Score Factors in Utilities & How Often You Move

By Steven Shaw on 4/8/2015

New FICO Score Factors in Utilities & How Often You Move

FICO, creator of some of the most widely used credit scores in the U.S., will reportedly announce a new scoring formula designed to help high-risk consumers access credit, the Wall Street Journal reported Wednesday. The model will incorporate consumers’ payment history on things like utility, cellphone and cable bills, in addition to how often a consumer changes addresses.

alternative credit
alternative data
FICO
FICO credit score
FICO Score
Utility Bills

The Change That Could Give Millions of Americans a Better Credit Score

By Steven Shaw on 2/25/2015

better credit

Millions of consumers could be lifted out of subprime status and get better loan terms if credit reports and scores were broadened to consider on-time utility and rent payments, according to a study released Wednesday by Experian.

alternative credit
alternative data
credit report
credit score

No Credit Score? You Still May Have Decent Credit

By Steven Shaw on 1/9/2015

no credit score

Tens of millions of Americans don’t have credit scores, meaning they have little or no access to things like credit cards, auto loans, personal loans and mortgages. People with poor credit are similarly limited, and there’s a good reason for that: Without a good credit history, you’ll have a hard time finding someone who will extend you credit. Sure, lenders consider other factors when evaluating potential borrowers, but a decent credit score gets your foot in the door.

alternative credit
credit
non-traditional credit

The Credit Report You Haven’t Seen Yet

By Steven Shaw on 6/19/2013

credit report you havent seen

Have you struggled to maintain good credit? Or do you avoid credit, and try to pay for everything in cash? Or perhaps your credit took a dive during the recession. If so, you may find getting credit frustrating and difficult. You may have even given up on trying to get a credit card or auto loan.

alternative credit
alternative credit reports
alternative data
Underbanked

Use your cell phone bill to your advantage

By Steve Ely on 4/17/2013
Jeanne's right - in the past your cell phone bill (if gone unpaid) could only hurt your credit, since cell phone providers don't typically report your positive payment history to the national credit reporting agencies.  eCredable is changing the game, by allowing you to get "credit" for paying your cell phone bill on time (along with other bills like rent, utilities, and insurance).  If you don't have enough traditional credit history to produce a traditional credit score, try alternative credit.  eCredable can help you qualify for a home loan or auto loan right now. 
alternative credit
Cell phone plans
credit score
poor credit
thin file credit

6 Loans you can get and how to use them wisely

By Steve Ely on 1/4/2013

Another great article by Mitchell Weiss.  In addition to these suggestions, you can use eCredable to help you qualify for an auto loan from RoadLoans, and a home loan from Churchill Mortgage.

alternative credit
auto loan
home loans

eCredable included in roundup of The Biggest Credit Stories of 2012

By Steve Ely on 12/21/2012

Thanks to Gerri Detweiler for noticing the importance of eCredable, and our ability to help consumers without a traditional credit history get a car loan.  Here's some other great credit related stories for 2012.

alternative credit
alternative credit reports
alternative data
car loans
no credit
no credit score
no file
no file credit