When it comes to assessing your creditworthiness, some lenders say they go to Facebook to gain insights.
When it comes to assessing your creditworthiness, some lenders say they go to Facebook to gain insights.
According to those that check your social media activity, your Facebook friends can be a determining factor on whether or not they extend you the credit you’re requesting.
They feel that the company you keep is indicative of who you are.
Does that mean you should unfriend your loveable but deadbeat high school buddy?
That depends on what kind of loan you’re going for.
Mainstream creditors still go by your FICO score, but if you’re looking to borrow from an emerging internet-based lender you might want to think about it.
If your high school pal has a bad history with the lender you’re pursuing, it could look bad for you, especially if you interact with them often.
Other Internet activity alternative lenders sometimes check out, include your Amazon and eBay behaviors.
One company even finds the physical location of your computer to make sure it’s where you claim to live or work.
The technology to perform the social media checks is starting to gain worldwide traction and recent notable customers include national lenders in Russia and the Czech Republic.
