In the not-too-distant future, your internet habits could help determine how much house you can buy and the rate on your next auto loan.
Sounds ridiculous? Right now, your credit score — that three-digit number that tells lenders how responsible you are — is based on simple financial information, like your payment history and debt level.
But research posted to the International Monetary Fund (IMF) website suggests companies will soon be looking at a lot more data to get an accurate picture of the risk you pose as a borrower. ...
Yes, the best answer is to never borrow money, especially not for a car.
I'm also a big fan of paying cash for everything, both for privacy, and to help thwart government control over political dissidents through cutting off their credit cards.
Sounds ridiculous? Right now, your credit score — that three-digit number that tells lenders how responsible you are — is based on simple financial information, like your payment history and debt level.
But research posted to the International Monetary Fund (IMF) website suggests companies will soon be looking at a lot more data to get an accurate picture of the risk you pose as a borrower.
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https://finance.yahoo.com/news/credit-score-may-soon-depend-130000431.html