Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Facebook Posts May Trash Your Credit Score

The last post in this topic was posted 1911 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

If you go on Facebook talking about how you got trashed last weekend, you might be trashing your credit score. Credit rating agency FICO is adding new ways to assess creditworthiness, including looking at smartphone records and information volunteered on social sites such as Facebook.

Although it doesn't use data from social sites, TransUnion is also using new alternative sources such as payday lending information and club memberships to expand its data pool... http://news.investors.com/business/101615-775779-credit-agencies-scout-facebook-other-social-sites.htm?ven=yahoocp,yahoo&src=aurlled





Share this post


Link to post
Share on other sites

I'm not surprised. It's all about profiling. Always has been. No different than the loyalty cards I use at a grocery store. They track my buying habits to target very specific deals to me.

Share this post


Link to post
Share on other sites

I think its great. People should be punished for the stupid stuff they post on Facebook.

 

I agree :lol:

Share this post


Link to post
Share on other sites

They could use TV viewing habits too. I imagine the score difference between someone who watches Honey Boo Boo vs the Science channel could be profound. Lol.

 

Edit.....To add to this I lowered my standards the other day and noticed during the commercial breaks of Jerry Springer, Maury, and the like.......it was nothing but workman's comp, injury, and class action commercials.......what does that say about the viewers of those shows.

Edited by TheVig

Share this post


Link to post
Share on other sites

They could use TV viewing habits too. I imagine the score difference between someone who watches Honey Boo Boo vs the Science channel could be profound. Lol.

 

Oh, goodness. Please tell me that show has been cancelled.

Share this post


Link to post
Share on other sites

 

They could use TV viewing habits too. I imagine the score difference between someone who watches Honey Boo Boo vs the Science channel could be profound. Lol.

Oh, goodness. Please tell me that show has been cancelled.

It was canceled a year or two ago.

Share this post


Link to post
Share on other sites

 

They could use TV viewing habits too. I imagine the score difference between someone who watches Honey Boo Boo vs the Science channel could be profound. Lol.

 

Oh, goodness. Please tell me that show has been cancelled.

 

Yes. It was.

Share this post


Link to post
Share on other sites

 

 

They could use TV viewing habits too. I imagine the score difference between someone who watches Honey Boo Boo vs the Science channel could be profound. Lol.

Oh, goodness. Please tell me that show has been cancelled.

It was canceled a year or two ago.

 

 

That's the best news I've heard in a long time.

Share this post


Link to post
Share on other sites

 

Edit.....To add to this I lowered my standards the other day and noticed during the commercial breaks of Jerry Springer, Maury, and the like.......it was nothing but workman's comp, injury, and class action commercials.......what does that say about the viewers of those shows.

 

It says everything...

Share this post


Link to post
Share on other sites

If you think about it: Who watches daytime Network TV? ;)

Same people who look forward to getting a Fingerhut catalog in the mail????

Share this post


Link to post
Share on other sites

Ridiculous. Would be interested to see how they can legally "assess" this information, and how they would include it in their scoring system. How would you legally match the person on Facebook with their credit file? Could be someone using a fake name, etc. Sounds like a lawsuit waiting to happen.

Share this post


Link to post
Share on other sites

Ridiculous. Would be interested to see how they can legally "assess" this information, and how they would include it in their scoring system. How would you legally match the person on Facebook with their credit file? Could be someone using a fake name, etc. Sounds like a lawsuit waiting to happen.

 

 

They can't. That's why it's b.s.

Share this post


Link to post
Share on other sites

Ridiculous. Would be interested to see how they can legally "assess" this information, and how they would include it in their scoring system. How would you legally match the person on Facebook with their credit file? Could be someone using a fake name, etc. Sounds like a lawsuit waiting to happen.

 

They are collecting data. They don't use it in credit scoring. It's used in targeting marketing much like the Google tracks (almost) everywhere you go. Knowing something about your interests helps them sell you stuff you are, at least somewhat, interested in. For instance I get a lot of targeted ads for finance, IT stuff, foreign policy, programming, and, of course, credit and bk related stuff.

 

There's a lot more money in increasing marketing efficiency than credit scores. The latter is also highly regulated with various prohibitions, disparate impact considerations. Marketing data, OTOH, is essentially unregulated and is in the "Wild West" stage.

Share this post


Link to post
Share on other sites

I get they use social content to data mine. Just sounds ridiculous given that so much false garbage is posted socially.

Share this post


Link to post
Share on other sites

I get they use social content to data mine. Just sounds ridiculous given that so much false garbage is posted socially.

 

Data mining doesn't actually consider whether data is true or false. It's all just correlation with attributes attractive to the various markets they target. AI at its finest.

Share this post


Link to post
Share on other sites

I think the old standards have flipped. So, the financial and retail industries think content analysis is a factor in studying consumers and the habits that affect revenue.

Share this post


Link to post
Share on other sites

I think the old standards have flipped. So, the financial and retail industries think content analysis is a factor in studying consumers and the habits that affect revenue.

 

There is a lot of data to be had there. From early trend predictors of what Christmas goodies are hot or not and general spending shifts that could affect commercial banking. Brave new world. But stories about credit scores and such are just scare mongering click bait.

Share this post


Link to post
Share on other sites

The last post in this topic was posted 1911 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,892
    • Most Online
      2,046

    Newest Member
    WTAYVONNE
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines