Lenders turn to Facebook to determine credit worthiness
Warnings about what you post on social media are nothing new, but the latest one is especially alarming: Who you friend on Facebook could impact your credit history.
Posted — UpdatedWarnings about what you post on social media are nothing new, but the latest one is especially alarming: Who you friend on Facebook could impact your credit history.
Traditional lenders rely heavily on credit scores like FICO, which looks at payment history.
One of those companies, Lenddo, determines if you are Facebook friends with someone who was late paying back one of its loans. If you are, that's bad news for you.
So, add that to the growing list of social media concerns. Not only can Facebook activity cost you a job, now it might cost you a loan.
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