In order to receive a credit score in Prosper Daily, your full TransUnion credit report needs to contain a certain amount of information, which serves as the basis for generating the TransUnion credit score.
If your credit report lacks this level of information, TransUnion labels it 'thin file' and cannot proceed in producing the credit score in Prosper Daily.
What causes a 'thin file' credit report?
The most likely explanation for your thin file status is that you don't have enough credit history.
If you never had a credit card, auto loan, student loan or mortgage in your name, the credit bureau lacks the information it needs to generate a credit score. This is very common - and can cause real frustration for people who want to get approved for a credit line for the first time.
Even if you recently established a credit line by, for example, opening your first credit card account, it can take awhile until the credit bureau has enough history on your credit behavior to generate a credit score.
There are additional reasons why you may be in thin file status with the credit agency:
- If you closed all your lines of credit, then re-opened them, that process of re-establishing credit can take awhile to generate the necessary information at the credit bureau to remove you from thin file status.
- The credit bureau may have inaccurate information about you or your credit history. This can be caused by an erroneous report of death or a 'split file' situation whereby your actual credit history is divided into multiple personal entries at the credit bureau.
View your credit report
To understand your status better, take a look at your credit report. You can receive a free copy of your report from each of the three main credit bureaus once a year at AnnualCreditReport.com.