[danieltillett]

People without a credit score fall into three categories which really have nothing in common in regards risk. 1. The unbanked (i.e. very poor). 2. The very wealthy or the moderately wealthy with an aversion to debt. 3. Recent immigrants. While I suspect 2 is relatively small, both 1 and 3 are quite large pools. Treating all three as a greater risk than someone with a history of poor debt management seems perverse.

The risk profile of a recent legal immigrant with a PhD and a high paying job is very different to someone that has never had a bank account and who has worked for cash in hand. Why treat them the same? At the very least let someone with no history of credit establish a credit score baseline based on their international history, current income, and assets.