financial lending companies are now thinking I have different ways to
determine whether or not you're gonna pay back your loan and they're looking
at
things other than your fight go score so they're considering who your friends
with on Facebook some of these companies include
%uh the financial lending accompanied lend oh and there's also something known
as Credit Act and
what they do is they scan your Facebook account they look at who your friends
are
and if any of your friends are people who have taken out loans with them but
failed to pay back in time or fail to pay back at all
they will count that against you drop but of course they also do check your
credit scores may weigh all the different a
you know the factors to distance determine whether or not you're gonna
get that loan
now I'm what are the companies that does this is credit takata German company
and it's a German company that says it uses up to
8 thousand data points when assessing an application for a loan
so in addition to your data from Facebook eBay or Amazon
accounts credit check also gathers information from the manner in which
a customer fills out the online application for example your chances of
getting a loan improve if you spend time reading information about the loan on
credit X website
if you fill out the application typing in all caps or with no caps
you're knocked out a couple pegs in credit excise so I love that cuz is
actually 1 factor in there that does make sense
some if you're filling out in all caps you're basically yelling at them don't
use my credit card
this is also home they argue their case because it you know that if you're
online anybody writing in all caps
the struggle okay that's not true I remember
my mom is relatively new to using the computer I and
one time the caps lock was on and she teaches at know what that is
said she would type everything I might like to comment on my facebook pictures
are ever in all caps may be sure as hell yeah
stop putting greater all I don't want this LP
yeah alright no I in all seriousness
I mean this is absurd it's one thing to like
how are you typing out the application yet one that
in all seriousness has some degree of legitimacy is how much time you spend
looking at the loan information because maybe they shows if you're being careful
you're not careful
et cetera but we're really get into the nitty-gritty people's lives
but think about that devastating consequence he could have
when you start judging people's friends because not only are you
way too much into our lives in its crazy I already have a credit score
which by the way also is also the problems in how we judge that
but I really have one who cares what my friend is doing
but even if you think it's Robert think about how orwellian that is
because now if you have if everybody knows this and you have a friend with a
poor credit score
Niigata jettisoned him it becomes like an informal
excommunication process and hey in at least people to turn on each other
am so I'm Niki I just I can have you as a Facebook friend
because they're judging my credit based on my friends and I know you got a bad
credit score
yet will think about welcome the Hunger Games me exactly where we go against one
another instead of you know going against
companies or people in power that make us
react this way but I will say like at it's kind of crazy
how many different types of institutions look
at social media to make judgments about you so yesterday when I was teaching
that class
a one piece of advice they give the students was make sure everything on
social media as private and on top of that make sure that everything you post
is employer sensitive so make sure that you have the mindset up oh my boss is
gonna see this one day
because so many people whether it's your professors whether it's your
employers universities when they're trying to decide whether or not to
accept you
they look at social media now and they make these you know these
decisions about you based on what your friends are doing base on which pictures
you put up your status updates it's kinda crazy but
another thing is this is information that we willingly share with people
yeah a look the other part of this is that it just makes you nervous
every single thing you do online is being judged as some point
credit excels like it's so right after I don't
Credit Act will now be judging your life you spend too long on that website too
short on the other one
and if you did not type things correctly they it was correct but not in the right
caps lock
well I mean she swatted other things are judging is with you use your computer a
worker at
or at home I don't know which 1 I'm supposed to use I don't know which was
better
like the woody allen-mia said it like a nervous wreck on the credit score like
how much should i cancel credit card should I cancel it because I like
sometimes kathleen has better for your credit score sometimes I can say it is
bad for your credit score
and think about like the broader issue here right like the surveillance tape
that we live in
where we have the NSA spying on everything we do
we can't travel or fly anywhere without getting like full-body images
you know ourselves takin I i mean everything we do
is right under a microscope and it is it's nerve-wracking it makes you feel
like you're a bad person when you're not even doing anything wrong
because we're all normal we all engage in activity that my feels
a little embarrassing in maybe a little risque and someone's always watching it
and I'm not tryna like fear monger make anyone paranoid but it's the truth
yeah credit tech is always watching always judging credit Dec knows
everything you are doing