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Personally all that information linked together with at least one company or organization is too much for me. I take what little privacy I have left thank you.
They want to offer credit on the spot so more people make impulse buys as they browse. Almost 90 percent of online shopping carts are abandoned; i.e. potential orders discarded.
Researchers for the IMF/International Monetary Fund wants to link credit score to one's browsing history.
Nobody cares what the IMF says.
The actuarial scientists at Fair Isaac's Company (FICO) developed a proprietary mathematical algorithm to determine credit risk.
Many, like creditkarma and the other free sites, use an algorithm that attempts to approximate FICO's algorithm.
I'm sure if the actuarial scientists at FICO thought browsing history was relevant to credit worthiness, they would have incorporated into the algorithm already. And, why, yes, the algorithm does change to reflect social or cultural changes.
For example the 5/7 Rule is out the window. 5 years on the job and 7 years with the same address or 7 years on the job and 5 years at the same address. That was applicable when society/culture accepted for-life-employment and people rarely moved. But now people move more frequently and have more than one employer in their lifetime.
Experian Boost is not FICO and nobody uses Experian Boost except people dumb enough to pay a subscription fee to subscribe to Experian.
Cant the IMF already see our browsing history if they pay the right people? Data mining, and tracking already happens. That is how the ad people know what ads, and spam email to send to people. And why I always get those unsolicited automated calls. I guess IMF just wants the intel for free.
Cant the IMF already see our browsing history if they pay the right people?
Sure they can see it if they want to. But that doesn't link your credit score to you browser history. Google, Apple, and Facebook will have to team up with the banks to get that done. But don't worry, they will.
The only people who should worry are "conspiracy nuts".
But conspiracy nuts only want to buy guns and ammunition. It's best to give them bad credit scores.
Who is a Conspiracy Nut? The proprietary algorithm will decide.
Who will complain about the algorithm that calls them conspiracy nuts? Only conspiracy nuts will complain.
I have no problems with anyone using my browsing history if it helps me but I have no idea how it would effect me credit as long as it doesn't pull it down.
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