No Credit, No Problem: Experian Now Lets You Build Your Own Credit Report
If you don’t have a credit history, it can be difficult if not impossible to qualify for a mortgage or get another kind of loan. But a new program from Experian will let you build your own credit report from scratch — without going into debt or waiting months to build up a solid payment history.
Experian, one of the three major credit bureaus in the United States, recently launched a new program called Go that will allow people with no credit history to create their own credit reports.
Experian says the program will allow the 28 million “credit invisibles” to access financing from mainstream lenders and banks. Credit invisibles have no credit files at all, and Experian notes that another 21 million people have credit files that are too limited to score.