Why Your Facebook Friends Can Affect Your Credit Score
by WPIX-New York City
posted Aug 28 2013 9:22AM
VIDEO - Who you befriend on Facebook now could affect your credit. Some tech startups are now using social media to determine the risk of lending to people. Typically, lenders rely on your "FICO" score or payment histories, but some lending companies say social connections can now be a good indicator of creditworthiness. The company "Lenddo" looks at your Facebook friends and if they were late paying back a loan to "Lenddo" then that could affect how they lend to you.