But does the corporate data collection factor into your FICO score? Unless there’s some new scary development I’m not aware of, the FICO score is only based on the following: length and number of accounts, revolving utilization, if payments are on time, and the loans you have made (based on the size and frequency of them).
You and your friends’ social media activity, among numerous other things, can absolutely affect your ability to get a loan, a job, a rental contract, etc.
When you’re rejected for a loan by a bank in the USA you’re entitled by law to know the reason. If your credit is good, your job is stable, and you’ve got no history of finance-related crime then you won’t be denied a loan. If you’re denied a loan because of the type of porn you browsed or some shit you said on Twitter, then that’s grounds for a discrimination lawsuit.
When you get your credit report, there is a statistical breakdown of your score and all of the sources on the report. So, if there is something as stupid as a social media adjustment, you can contest that.
Edit: I can’t respond to replies from the deeply unserious users of the cowardly instances that have defederated from HB, nor those instances so filled with liberalism and foolishness (but I repeat myself) that we had no choice but to defederate from them. Go read a book.
It is real, it was first put into use in 2014 with a six year plan to make it fully operational, but it’s never reached that point. It not being as big as the CCP intended doesn’t make it not real, it’s still in use right now.
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with the amount of information sharing between all the large corps, they are likely to be more similar than you think.
But does the corporate data collection factor into your FICO score? Unless there’s some new scary development I’m not aware of, the FICO score is only based on the following: length and number of accounts, revolving utilization, if payments are on time, and the loans you have made (based on the size and frequency of them).
FICO is just one of a multitude of scoring systems which impact people’s lives in the US today.
https://en.wikipedia.org/wiki/Criticism_of_credit_scoring_systems_in_the_United_States
You and your friends’ social media activity, among numerous other things, can absolutely affect your ability to get a loan, a job, a rental contract, etc.
If that holds true, then it really is no better than China’s social credit system. Somebody needs to regulate this monster before it eats us all.
China’s Orwellian Social Credit Score Isn’t Real
If you know so little about your own country’s credit scoring system, you shouldn’t speak so confidently about one on the other side of the world.
Don’t give them any ideas.
When you’re rejected for a loan by a bank in the USA you’re entitled by law to know the reason. If your credit is good, your job is stable, and you’ve got no history of finance-related crime then you won’t be denied a loan. If you’re denied a loan because of the type of porn you browsed or some shit you said on Twitter, then that’s grounds for a discrimination lawsuit.
https://news.uga.edu/how-social-media-posts-could-affect-credit-scores/ (via)
When you get your credit report, there is a statistical breakdown of your score and all of the sources on the report. So, if there is something as stupid as a social media adjustment, you can contest that.
Tell me you didn’t click either link in my comment without telling me you didn’t click either link
I wouldn’t click that link in a thousand years, you rube.
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China’s Orwellian Social Credit Score Isn’t Real
Edit: I can’t respond to replies from the deeply unserious users of the cowardly instances that have defederated from HB, nor those instances so filled with liberalism and foolishness (but I repeat myself) that we had no choice but to defederate from them. Go read a book.
It is real, it was first put into use in 2014 with a six year plan to make it fully operational, but it’s never reached that point. It not being as big as the CCP intended doesn’t make it not real, it’s still in use right now.
Another key difference is one is aimed at executives and businesses and the other is aimed at everyone
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