this post was submitted on 22 Apr 2024
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Americans be like (lemmy.ml)
submitted 6 months ago by yogthos@lemmy.ml to c/memes@lemmy.ml
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[–] bountygiver@lemmy.ml 17 points 6 months ago (2 children)

with the amount of information sharing between all the large corps, they are likely to be more similar than you think.

[–] SuperSpruce@lemmy.zip 6 points 6 months ago (2 children)

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 11 points 6 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 6 months ago

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.

[–] jubilationtcornpone@sh.itjust.works 2 points 6 months ago

Don't give them any ideas.

[–] FiniteBanjo@lemmy.today 1 points 6 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 6 months ago (1 children)
[–] FiniteBanjo@lemmy.today -1 points 6 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 6 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 6 months ago (1 children)

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