Are Your Friends Hurting Your Credit?

by James on August 27, 2013 · 2 comments

Hi All,

In case you haven’t seen this story – is reporting that some credit check firms are starting to evaluate your credit based on your social networks.  The idea is simple: birds of a feather flock together.  That is, if you have friends who have poor credit, you’ll have poor credit as well.  The idea might seem outrageous at first but the principle does seem to hold up.  For example, its well know that fat people tend to associate together, so do criminals and drug users.  There may be some truth to it.

Don’t take my word for it, feel free to check out the story at CNN here.

Facebook friends credit score

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{ 2 comments… read them below or add one }

1 Terry Pratt August 28, 2013 at 1:10 am

Personally, I find this to be hogwash, My friends have about five times my annual income, and the great credit that often goes along with that income level.

My friends are college-educated and earn on average about $75K; I am college educated and make minimum wage. It would be nice if my friends’ credit rubbed off on me, but it just ain’t so.

2 Crystal August 28, 2013 at 1:30 am

LOL, then we may be very confusing to them. Some of my friends are awful with money and others are amazing. If this ever comes up, I will definitely need to write up the experience…

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