Don't have a bank account or established credit? Worry no more /s because scoring companies can use your cellphone habits to predict your credit worthiness.
Thoughts?
Imo this totally can't go wrong, nope no way >_>
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I use my cellphone so rarely most people don´t think I have one.
1984 is not a guidebook!
sounds great, tell me more :D
do we get special contact lenses that tell us what each persons STAR rating/score is on the street too?
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We keep saying this, yet we keep putting people into positions of power that seem to think it is.
Anyway, I can see where they are coming from and why they might think it's a good idea...but this makes me extremely uncomfortable. Next it will be your browsing habits and what types of emails you get. Since they are already hoovering in that data (thanks NSA!) it isn't that much of a leap for them to try and start using that data that is just "sitting" there.
“It turns out, the more economically active you are, the more people want to call you,” Moriarty said. “That level of activity, that level of usage is what’s really most predictive.”
...what does this mean?
Yo guys I need everyone on the forum to call me so I can get a mortgaged house.
I don't even understand how this makes sense...
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also china told TS who then told us this would happen
Don't look at me ? I tanked my credit rating by paying everything off and not incurring any more debt 9 10 years ago. Talk about not making sense of a credit scores ?
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Yup, it's a system designed to force people into debt. The US is just about the only developed country (okay, the "developed" part is open for debate) where this system is used.
In the rest of the world they check how much you earn, verify that it's a steady/reliable income and if you have any other outstanding debts to determine if (or how much) you can borrow from the bank.
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Paid off loans are the equivalent of closing an account. That's generally why I recommend financially responsible college-goers to open up as many fee-free credit cards they can get away with; so long as they arent carrying debt, having 2-4 open accounts throughout college will make your score that much harder to influence by newer inquiries/lines.
china is making/doing the same thing
also, all countries want to do this, eu and the brits are soon to follow (having made plans in advance, red book it)