Facebook friends could affect your credit score - Philadelphia News, Weather and Sports from WTXF FOX 29

Facebook friends could affect your credit score

Posted: Updated:
CHICAGO (FOX 32 News) -

Choose your Facebook friends wisely. They may affect more than just your social or professional life.

A handful of tech startups are now using social data to determine the risk of lending to people. Traditional lenders rely mostly on credit scores, but some financial lending companies have found that social connections can be a good indicator of a person's creditworthiness.

For example, Lenndo checks to see if people are Facebook friends with someone who was late paying back a loan.

Follow Us!

Share Your Photos & Video

Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices