4 ms·
To expand on the sibling comment, if the article is accurate the social credit score is based on some of the same factors as the FICO score (e.g., do you pay yo
by jdale27 9y ago
To expand on the sibling comment, if the article is accurate the social credit score is based on some of the same factors as the FICO score (e.g., do you pay your bills on time) and has some of the same implications (how easily you can get a loan). However, it also has broader scope (e.g., it also includes social and behavioral input that isn't used in FICO scores AFAIK) and broader implications (e.g., "at [a score of] 750, they get fast-tracked application to a coveted pan-European Schengen visa").
- perseusprime11 9y agoTo add to what jdale27 said, here's another quote from a related article- "Hong Kong-based Lenddo takes it one step further by using a debtor’s social connections to exert pressure if he or she defaults on payments, according to the Journal. For example, the start-up will tell customers’ Facebook friends if they haven’t paid, and the friends’ Lenddo scores could suffer if the customer fails to repay the loan. " Just plain weird to me if you ask my opinion. Link: http://knowledge.wharton.upenn.edu/article/the-social-credit-score-separating-the-data-from-the-noise/ http://knowledge.wharton.upenn.edu/article/the-social-credit...
- nielsbot 9y agoGive creditors the system and they'll try to use it to the maximum extent allowed.