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Facebook Posts May Trash Your Credit Score

The last post in this topic was posted 1920 days ago. 

 

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This post reminded me of this article : https://www.aclu.org/blog/free-future/chinas-nightmarish-citizen-scores-are-warning-americans

 

Alt link: http://www.geek.com/news/every-chinese-citizen-will-soon-have-a-score-based-on-how-they-live-and-conform-1635832/

 

Basically China will also be getting credit scores where paying on time or late will affect scoring but also your political preference or if you do things that the government does not agree with and what is worse your score will also be affected based on the friends you have.

Edited by MR.Solis

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This post reminded me of this article : https://www.aclu.org/blog/free-future/chinas-nightmarish-citizen-scores-are-warning-americans

 

Alt link: http://www.geek.com/news/every-chinese-citizen-will-soon-have-a-score-based-on-how-they-live-and-conform-1635832/

 

Basically China will also be getting credit scores where paying on time or late will affect scoring but also your political preference or if you do things that the government does not agree with and what is worse your score will also be affected based on the friends you have.

 

China will probably implement a broad based scoring algorithm based on whatever predicts a Chinese person's credit risk. It could well include associations and social network info should that info be predictive. There are almost no restrictions on business use of data in China for credit extension purposes or anything else. If it helps business it will likely happen. Restrictions on what data can and cannot be used are pretty stringent in the US. For instance age which is highly predictive for folks over 80. About a third of older people die with credit card debt and leave no estate to pay it though they were rigorous about paying bills on time prior to that. However, credit card companies may not use age in decisioning or scoring.

 

There was a program called Total Information Awareness that did something similar but was renamed for obvious reasons and possibly gutted.

Edited by cashnocredit

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This post reminded me of this article : https://www.aclu.org/blog/free-future/chinas-nightmarish-citizen-scores-are-warning-americans

 

Alt link: http://www.geek.com/news/every-chinese-citizen-will-soon-have-a-score-based-on-how-they-live-and-conform-1635832/

 

Basically China will also be getting credit scores where paying on time or late will affect scoring but also your political preference or if you do things that the government does not agree with and what is worse your score will also be affected based on the friends you have.

 

China will probably implement a broad based scoring algorithm based on whatever predicts a Chinese person's credit risk. It could well include associations and social network info should that info be predictive. There are almost no restrictions on business use of data in China for credit extension purposes or anything else. If it helps business it will likely happen. Restrictions on what data can and cannot be used are pretty stringent in the US. For instance age which is highly predictive for folks over 80. About a third of older people die with credit card debt and leave no estate to pay it though they were rigorous about paying bills on time prior to that. However, credit card companies may not use age in decisioning or scoring.

 

There was a program called Total Information Awareness that did something similar but was renamed for obvious reasons and possibly gutted.

 

 

Don't worry about the CC companies. Stuff like that has already been factored into their pricing structure. :grin:

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Exactly how are they obtaining your smart phone data?

 

The NSA could use Fico if they end up being blocked by Congress. ...

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