How Bad Moves on Social Media Could Damage Your Credit Score

IMG_0041Dramatically quitting your job via viral video might seem appealing after your boss starts screaming at you — again– but for the sake of your credit score, it’s probably not a good idea. According to a recent report from the Wall Street Journal, lending companies and Fair Isaac (FICO) might soon start using social media data to help determine your credit score.

Your credit score is used by lenders to assess your level of risk, which in turn affects your interest rate. Just like with your grades in school — and pretty much everything except golf — the higher the score, the better.

Read the rest on DailyFinance!

Posted in DailyFinance Tagged with: ,
8 comments on “How Bad Moves on Social Media Could Damage Your Credit Score
  1. Interesting concept. I am on my way to read it now.
    Grayson @ Debt Roundup recently posted…Manilla.com Review- Keeping Your Financial World OrganizedMy Profile

  2. Hmmm yeah I will need to read the rest of your article. Seems like a ridiculous concept imo.
    DC @ Young Adult Money recently posted…A Better Way to Do the 52-Week Money ChallengeMy Profile

    • Broke Millennial says:

      I have mixed feelings. I like the idea of it helping people who may otherwise have issues getting loans, but it seems far too easy to bleed the lines and start really invading personal privacy.

  3. Wow, interesting! I suppose it’s not surprising really. Thanks for sharing the article!
    Fig @ Figuring Money Out recently posted…Are You Addicted To Blogging?My Profile

  4. jefferson says:

    In this uber-connected world that we live in, people shouldn’t think anything that they write online won’t be broadcast to the entire world.
    jefferson recently posted…Paying Off Debt – The Definitive GuideMy Profile

  5. David Ryan says:

    Yes. That’s why too much information is never good.
    David Ryan recently posted…Rocketukulele.com Premium Membership – $1My Profile

Leave a Reply

Your email address will not be published. Required fields are marked *

*

CommentLuv badge