Frequently Asked Questions(FAQ)

Can I still access credit products if I don’t have a credit score?

Yes, getting a loan or credit card without a credit score is possible. However, your interest rates will likely be higher, and you might not be able to borrow as much. Alternative credit scoring can help you access more products, and those without credit can also consider options like a credit builder loan or finding a cosigner. 

How could I benefit from alternative credit scoring?

The first step is to find out if you have a credit score. If you have ever used credit, such as taking out a loan, applying for a credit card, or paying bills on credit, you likely have a credit score. You can find out by checking your credit reports from one or all of the three major credit bureaus: Equifax, Experian, and TransUnion. You can also access your credit report for free once per year via You can benefit from alternative credit scoring if you do not have a credit score or your credit score is low.

What kind of lenders use alternative credit scoring models?

As discussed, many countries across the globe due not use a credit scoring system. And though the United Kingdom has a credit scoring system, most of the other countries across Europe do not. For those who live in Europe, it is common to rent property permanently and avoid taking out a mortgage or amassing debt. And, getting credit or a personal loan can be more challenging. Applications are reviewed and assessed based on your current salary and employment history, whether or not you are married or have children, current amounts owed to other lenders, residence status, and other factors. That said, making on-time payments is important across all European countries. 

About the Authors

Ann Schreiber

Written by: Ann Schreiber

Seasoned Copywriter & Content Marketer

Ann has been a marketer and a content writer for over 20 years. She worked for financial institutions such as FICO, Experian, and BlueChip Financial as a director of content and brand marketing.

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