Skip to main content

Online social networks -- and e-shopping habits -- are among the clues to creditworthiness lenders can now assess

How Facebook friends could affect your credit score

Do you ever look at people's ever-growing number ofFacebook (FB -4.11%) friends or your own pile of online family and acquaintances and wonder what their purpose is?

You hear from only handfuls of them at a time, and your news feed is cluttered with folks who update far more than most of your friends. Unless you're trying to get them interested in your day-to-day minutiae or some project you're putting together, you've just been stacking those friends in a scarcely visible trophy case. Even with thousands of Facebook friends, it can get awfully quiet in the social networking world.

Maybe that's part of the reason why some credit groups are trying to raise the stakes of your "friends" lists a bit. As reported by CNNMoney, lending companies includingLenddo and Kreditech are using the credit histories of your Facebook friends to judge just how likely you are to pay your debts on time.

While traditional lenders lean more heavily on credit scores based on payment history to determine an applicant's worth as a borrower, that leaves out millions of people who don't have credit scores at all. Your Facebook friends -- whom Lenddo scans for payment and default data, which is then used to judge you by the company you keep -- are just one of the thousands of points lenders are now using to give folks without credit scores access to the credit market.

Kreditech, for example, uses up to 8,000 data points when assessing a loan application. The German company culls data from Facebook, eBay (EBAY -2.60%) and Amazon (AMZN -1.84%), clocks the amount of time people spend reading over the application on its website and judges applicants harshly if they fill out the form in all-caps or no caps.   more at source


Popular posts from this blog

1914 Germany Afrikaner farmer Agreement

thank you Etienne 
translated from Afrikaner to EnglishTo all the people of the white race all over the world, most of all to the German nation: This is an important agreement Concerning the South African Boer people and the German nation. It has to do with an agreement between the Boer rebellion and the German troops in Southwest Africa. The Boer rebellion were lead by leaders of the Afrikaaner nation (General Manie Maritz, General SG Maritz, General Koss Delarey) and who’ll be fought against the English in the Second Anglo-Boer war from 1899 to 1902, where the Afrikaaner nation under hun president In Paul Kruger ulcers completely humiliated by the English when ze ulcers forced to sign the Treaty of Vereeniging in 1902. The atrocities committed against the Boers in the Concentration camps ulcers horriffic to say the least, and at least 30 000 Boer women and Children Were driven from hun farms Which Were torched under Lord Kitchener’s Scorched Earth policies. The attached files are an ima…

MS-13 and Los Zetas Drug cartels stealing millions of barrels of oil and taking over control of the drug trade.

Los Zetas vs Ms 13 from Los Zetas is an armed criminal gang that operates as a hired army for the Gulf Cartel. The group is believed to be led by Heriberto “The Executioner” Castanon. Los Zetas, the Ninth CartelTuesday, May 18, 2010 |  Borderland Beat Reporter Buggs

Major pedophile Somali-Muslim sex gang busted in Minnesota and Tennessee.

In a series of arrests carried out Monday morning in the Twin Cities and Nashville, Tennessee, federal and local authorities broke up a human trafficking ring that provided underage prostitutes. A federal indictment unsealed Monday morning in Nashville details the sex trafficking operations of 29 Somali men and women tied to the Somali Outlaws, Somali Mafia and Lady Outlaws gangs, which are all connected and based in Minneapolis. Of the 29 indicted, 12 were arrested Monday morning in the Twin Cities, eight in Nashville and six were already in jail in various locations. Three remain at-large and wanted.MORE

 FBI-2011 National Gang Threat Assessment 2011 National Gang Threat Assessment – Emerging Trends
view printable version (pdf) The gang estimates presented in the 2011 National Gang Threat Assessment (NGTA) represent the collection of data provided by the National Drug Intelligence Center (NDIC) through the National Drug Threat Survey, Bureau of Prisons, State Correctional Facilities, …