Facebook friends could change your credit score
Facebook friends could change your credit score
August 26, 2013: 3:04 PM ET
Some tech startups are using your online social data to determine your creditworthiness.
NEW YORK (CNNMoney)
Choose your Facebook friends wisely; they could help you get approved -- or rejected -- for a loan.
A handful of tech startups are using social data to determine the risk of lending to people who have a difficult time accessing credit. Traditional lenders rely heavily on credit scores like FICO, which look at payments history. They typically steer clear of the millions of people who don't have credit scores.
But some financial lending companies have found that social connections can be a good indicator of a person's creditworthiness.
One such company, Lenddo, determines if you're friends on Facebook (FB) with someone who was late paying back a loan to Lenddo. If so, that's bad news for you. It's even worse news if the delinquent friend is someone you frequently interact with.
"It turns out humans are really good at knowing who is trustworthy and reliable in their community," said Jeff Stewart, a co-founder and CEO of Lenddo. "What's new is that we're now able to measure through massive computing power."
http://money.cnn.com/2013/08/26/technology/social/facebook-credit-s...
Replies to This Discussion
-
Permalink Reply by apeman2502 on
-
...You mean I can borrow beer money from these guys?
-
-
Permalink Reply by Misteri on
-
I wish they would change my credit score!!!! LOL If I had any credit that is, living on cash only basis or the barter system!!!! Plus I really don't have any friends, lol, not on Facebook anyway!!!
-
-
-
Good thinking.
I have no interest in anything but surviving. They can track that all they want and give me as many suggestions as humanly possible, I will not complain!!!
But I have seen it done on other peoples computers. It would really bother me too. I do not seem to have that problem for some reason, wink, wink.
-
-
Permalink Reply by Christopher on
-
Face-Hook.
-
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
2DF36465-A826-443C-A3A8-6638BC1D4FFA
"You can't subvert a nation that has already been subverted by Marxists and drug cartles who…"
2DF36465-A826-443C-A3A8-6638BC1D4FFA
"Venezuela was once a thriving nation until the left and Communism infiltrated the government, and…"
Jacob Collier Improvises With Orchestra (Live in San Francisco)
A few months ago, I had the joy of performing with the world's first Audience Symphony Orchestra in San Francisco, a gathering of fans from all over North Am...
Архітектура для мегаполісів: виклики та рішення урбаністики
Сучасні мегаполіси — це складні живі організми, де переплітаються економіка, культура, технології…See More
FB_IMG_1770501160448
"Thumbs up find. So what ever do we have here then? Revolving doors of corruption and deceit that…"
"Greetings and well wishes to you POMaH, great that you've joined us all here at the site. May…"
Something is Making Fishermen Disappear It’s not Alligators or Sharks
The setting is a section of the Ohio River where many locals enjoy fishing, swimming, and boating.…See More
Always Wondering
The face of reality pressed against your window paneIs it engineered or is it real rain?So, you…See More
© 2026 Created by truth.
Powered by
