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Experian and other credit tracking companies don't just track credit history and finances, but much more, like employment history, income levels, civil and lega
by heavyset_go 4y ago
Experian and other credit tracking companies don't just track credit history and finances, but much more, like employment history, income levels, civil and legal disputes, etc, and make them available to whoever wants to know that information about you.
Then there are other firms that do similar things, like ClearView AI compiling dossiers on people's online activity and social media posts.
Yes, colloquial usage of "credit scores" in the US typically means FICO scores, but the more general usage that's used to describe China's system as a "credit score" can also describe very similar systems we have in the US, as well.
- 1123581321 4y agoThere are some significant differences. For example, the US has the Equal Credit Opportunity Act which prohibits many or most of the prejudicial factors in China's system. Most institutions in the United States do not purchase the most invasive data products, and our privacy laws are improving when their 'market share' increases in a certain area. This is the inverse of the situation in China. There are other differences besides those.