When you go to the doctor, you have the option of going to one that specializes in anything that could possibly be wrong with you. As you watch a baseball game, you might see a host of specialty players: closer, DH, or a pinch-runner. Why does someone see a limited credit score sheet when they consider you for a loan?
Subprime and second chance auto loan candidates are the most affected by this narrow scope of information. All a lender might see is a 620 score, not that the consumer paid all of their bills until laid off, filed bankruptcy because their employer folded, or had a severe, but temporary disability. The score tells the end game not the story which could truly influence a lender to approve their immediate needs based on current information and not just what has accumulated.
If a store can specialize its merchandize and a football player can make millions just returning punts, why can’t a credit rating system be developed that explains why a person missed payments or filed bankruptcy?