What does it mean when the credit report returned for my applicant says "Experian did not return a score for this applicant"?
This means that Experian identified the credit file and this person does not have enough activity on their credit file to assign a score.
This can also be referred to as a "thin file". What is a "thin file"? not enough account information to create a score.
This can occur when the consumer is on the younger side, or if the consumer just doesn't have active credit lines. If it comes back with no score that is because they have no active trade lines/credit lines.
A trade line (a credit account – revolving or fixed term) must be active for at least the past six months for Experian to calculate a credit score for a consumer.
What no credit history means to you, the landlord:
Your applicant pays cash, lives within their means, and pays bills (i.e. utilities). Unpaid utilities would often show up on the credit report in the form of collection accounts if they were left unpaid.
For applicants with no credit history, we recommend using our financial profile report to gain a better understanding of the applicant's ability to pay rent. The financial profile report shows you a 90 day snapshot of the applicant's monthly deposits and expenses.