New Credit Card Option for Those With Scant Credit Histories - The New York Times

www.nytimes.com

A New York start-up aims to use everyday financial information to qualify people with scant or no credit histories for its credit cards.The company, called Petal, considers an applicant’s standard credit scores, when available. But it also analyzes their digital financial records, like checking accounts or, in some cases, prepaid debit cards, to rapidly assess their income and spending habits.

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