Besides defaults how would you get precision in a model without any other data? Payment history and total outstanding credit wouldn’t be there. You would hav

Besides defaults how would you get precision in a model without any other data? Payment history and total outstanding credit wouldn’t be there. You would have to trust the customer to provide you with all these details. Without precision in the risk model, cost to the consumer will go up to mitigate risk. Someone who has paid all their credit lines for 10 years but and has never defaulted has the same risk profile as a person who has frequently missed payments.