For
scoring purposes, the payment history, balance,
credit limit, age and all other
scoring factors continue
to be treated the same by
scoring formulas
without regard to whether a new card has or has not been issued.
Jeannie Tarkenton, Founder and CEO at Funding University, a private student loan lender who specializes in non-cosigned loans, had the following
to say in
regards to qualifying for a student loan
without a cosigner, «The vast majority of undergraduate students do not have deep
credit history or meaningful FICO
scores - and banks are unable or unwilling
to use behavioral data that are predictive of loan payment success of college graduates; so, in post 2007 environment banks simply will not extend
credit to students.