Facebook friends could affect your credit score - New York News

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.

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