What if applicant has no Credit score

[Jane S.]

How is it possible for a full time employed person not to have a credit score? Are credit cards necessary for this?

[Kevin Sobilo]

Quote from @Account Closed:

@Kevin Sobilo, to make a call on tenants without a credit score, do you look at bank statements to verify their ability to pay or income consistency? 

I've heard of this but haven't done it, personally. Curious your thoughts on this approach.

I view credit mostly as the applicants level of financial responsibility and willingness to pay. So, a good score makes it easy to qualify no score or a bad score doesn't disqualify someone on its face.

If the person has a bad score, I will look at the report. If its a younger applicant they may have no active accounts and only a negative thing on their credit like an unpaid doctor bill. In a case like that I will ask about whatever the negative things are and in many cases accept them but this is only for people who don't have much credit history. They have a score, but their score doesn't reflect who they are. Its like looking at a baseball players batting average after the first game of the year. Half of them are batting .000 or .200

If the person has no credit score. I want to make sure the report shows that the SSN matched so I know it is the correct person. I consider that acceptable credit as long as the other history on their application is consistent. If they have lived independently, paid rent, had consistent employment they are acceptable.

I consider employment a separate criteria because it doesn't pertain to their level of responsibility. It is about their ability to pay.