It will soon be possible to get a credit card even if you don’t have a credit score.
As early as this fall, banks such as JPMorgan Chase, Wells Fargo and U.S. Bancorp will launch a collective pilot program that factors in data from applicants’ savings and checking accounts to boost their chances of getting a credit card, the Wall Street Journal reported.
The program will include data from across banks and is aimed at helping those who are financially responsible but haven’t been able to build credit apply and get credit cards, signaling a major shift in access that could help millions of American adults establish and boost credit.
