“Wasted” on Facebook? Your Credit Score Might Suffer.

Credit scores are, in theory, a measure of how likely it is that you will pay your debts instead of defaulting or declaring bankruptcy. They are extremely flawed, but it’s all the banks have got. In a search for ways to refine credit scores, FICO (the company that developed the most popular credit score) is considering using social media in its equation.

Fico [is] increasingly looking at data on a spectrum: with credit card repayment history at one end – the most reliable guide to creditworthiness – and at the other, information volunteered on social media platforms such as Facebook.

In short, posting dumb things to your public social media profiles may soon make your life more expensive.

Featured image by sanberdoo / CC BY 2.0.