Hi, welcome to the PRBC blog!
So, you have this alternative credit report. The only problem is, small lenders and other business won’t use them to assess your creditworthiness. Here’s what you can do to convince them they should.
First, tell them they’re legally obligated to accept your PRBC report. According to the National Consumer Reporting Association, if you visit a business and provide information you want them to consider when reviewing your loan application, the law says they have to take that data into consideration.
Second, direct the loan officer toward resources that provide info on alternative credit data. There are a couple of studies on the PRBC website they may find helpful. The links in the transcript below should direct you to them.
With these two strategies in hand, you should be better equipped to land that loan. Good luck, and see you next time!
Links to alternative credit sources: