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).

[–] cypherpunks@lemmy.ml 16 points 7 months ago (1 children)

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.

[–] SuperSpruce@lemmy.zip 2 points 7 months ago (2 children)

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.

[–] TC_209@hexbear.net 7 points 7 months ago

China's Orwellian Social Credit Score Isn't Real

[–] BeamBrain@hexbear.net 6 points 7 months ago

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.

[–] jubilationtcornpone@sh.itjust.works 2 points 7 months ago

Don't give them any ideas.

[–] FiniteBanjo@lemmy.today 1 points 7 months ago (1 children)

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.

[–] cypherpunks@lemmy.ml 4 points 7 months ago (1 children)

https://news.uga.edu/how-social-media-posts-could-affect-credit-scores/ (via)

[–] FiniteBanjo@lemmy.today -1 points 7 months ago (1 children)

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.

[–] cypherpunks@lemmy.ml 1 points 7 months ago (1 children)

Tell me you didn't click either link in my comment without telling me you didn't click either link

[–] FiniteBanjo@lemmy.today -1 points 7 months ago (1 children)

I wouldn't click that link in a thousand years, you rube.