Your phone activity will now effect your Credit Score/Rating

[Fetzie]

1 hour ago, AluminiumTech said:

I use prepaid.

I use pre-paid with a €9.99 per 28 days tariff for 750MB of LTE data and 200 minutes/SMS (which, if I'm honest, might as well be unlimited data and calls because I never exhaust them)

[Mr.Meerkat]

26 minutes ago, TetraSky said:

Alright, so with this I would have an abysmal credit score because I make about 5 phone calls a month and never text anybody. Awesome. Phones are simply not my primary platform. I use messaging apps and emails on my PC 99.99% of the time.

*6 months later* "Your emails and messaging apps now affects your credit score"

[Dackzy]

This is going too far, way too far, they have no business looking at what you are doing on your own fucking phone. 

If banks in Denmark start doing this then I am just going to stop using my phone or get one with a prepaid sim.

 

They need to be put back in place. 

[Energycore]

3 hours ago, Trik'Stari said:

Financial institutions, overcoming some initial trepidation about privacy, are increasingly gauging consumers’ creditworthiness by using phone-company data on mobile calling patterns and locations.

 

1984 called, they want their thought police back

[themctipers]

there goes my credit.

phone as primary device since.. 2013? yeah.

[handymanshandle]

I'm not completely concerned about the breach of privacy this might bring, but rather the fact that most people use social media or texting to communicate when they're using their phone. This does indeed seem quite discriminatory to people who don't particularly like to call people and would rather text, talk in person or use social media/email.

 

I think my profile pic best describes this situation.

[SpaceGhostC2C]

3 hours ago, Ryan_Vickers said:

 

Wow this world is just... I don't know anymore...

One day you'll walk into a company and everyone will be called George, Geraldine, Gary... When you ask about it, they'll say "starting with G came up significant in our productivity regression".

 

Spoiler

 

[Totallycasual]

5 hours ago, Ryan_Vickers said:

I'm not following this... can someone explain how they believe there is any correlation between mobile activity and credit score whatsoever?

 

It would be terribly discriminatory and racist but i could see them having auto denial/approvals (at least in the early stages of a loan application) based on what suburb/zip code/tower your phone connects to most of the time? The zip code of the people you talk to the most?  I guess it would be no different to profiling people from the address they put on their applications though, i seriously wouldn't put anything past the corporate world.  They are pure evil!   

[N3v3r3nding_N3wb]

It seems to me like teenage girls will have the best credit imaginable.

[ionbasa]

I have no problem with them grabbing info from my utilities. Hell ,even from my phone company, but preferably, I'd be about my payment history, length of time with said mobile carrier, and a few other things, like whether or not I pay/loan out my smartphone or if I'm on a upgrade program.

 

Those types of things could show correlation to my credit worthiness and how responsible I am for making payments on time, length of account history, etc. Checking the number of phone calls? Not so much. As a matter of fact, the only people I actively call or receive phone calls from are family and close friends. Everyone else I just text, or use other social media aps to communicate with, from Snapchat, to Facebook Messenger, to Skype, to Group Me. I totaled 720 text and iMessages this month. Does that make me worth of having a better FICO score? I just cant say that I see a lot of reason to attach correlation to the two.

 

On a side note, My FICO score is pretty goodish: 731, about average. Not the best, but the length of some of my accounts aren't old enough. If they implement this, I'd be pretty upset. I haven't carried a balance in a year on my credit cards, and I do use them. I recently had my score go down due to a hard pull for a new car. It'd be frustrating if for the vast majority of people to find out they cant buy a house or car because they're not social enough. Just another way for the creditors to be even more obnoxious.

[Nademagnet]

So, if i call up Trump everyday and tell him he's an idiot, my credit score will be really good right?

[DrMikeNZ]

My phone is provided and paid for by work, a non-profit charitable trust, so that I can always be on call. I wonder how they would interpret this.

 

I am not sure how phone usage could be used to help credit ratings. Unless of course they are just taking all your contact information as collateral so they can repossess your friends if you default on payments or something.

[vorticalbox]

ai don't see how using my phone would matter at all actually unless they are looking at who you call. Known criminals, sex hot line and that sort of thing.

 

I've never understood the who "I've got nothing to hide" its like saying I don't need free speak because I have nothing to say.

[Trik'Stari]

13 hours ago, RGProductions said:

Alright, I don't mind the government seeing these things too much, I don't do illegal things, I have nothing to hide, However, once third parties have access, and or it affects things like credit score or something, is when I have a problem.

You don't do anything illegal, yet. Is the correct term there.

 

Sooner or later, some private thought you have and share in a private conversation, will be made illegal.

[othertomperson]

15 hours ago, onlybuilt4cubanxlinx said:

Soon they will use your browsing history!

In the UK almost certainly, now that this is stored for every single user.

[Centurius]

16 hours ago, kirashi said:

I don't understand - when I signed up for a cell phone in 2011, I was required to have some form of credit or bank account on file or they wouldn't let me sign up. Are they saying they'll be able to analyze users who don't have a bank account in order to determine what kind of bank account they are eligible for?

 

 

 

In the developing world the standards are quite different.

[Trik'Stari]

5 hours ago, vorticalbox said:

ai don't see how using my phone would matter at all actually unless they are looking at who you call. Known criminals, sex hot line and that sort of thing.

 

I've never understood the who "I've got nothing to hide" its like saying I don't need free speak because I have nothing to say.

Exactly. It's also not true. Everyone has something to hide, which isn't saying that everyone has done something wrong or illegal, but rather, everyone has something they would rather other people not know about. Something they're embarrassed or ashamed of.

[Mira Yurizaki]

Whatever happened to "I pay my bills on time"?

[Trik'Stari]

Just now, M.Yurizaki said:

Whatever happened to "I pay my bills on time"?

Can't run an economy like that. If people only bought things they could afford, how could anyone sell debt to get rich and buy things they seriously don't need?

[Murdoch]

By phone data, they seem to mean texts and calls + the location data of those.

 

Pretty much useless, since I almost never use calls or texts on my mobile. This also seems to be aimed primarily at emerging markets, who probably use standard calls and texts less than Westerners.

 

Bizarre.

[Trik'Stari]

I wonder how end-to-end encrypted chat programs will factor into this, if at all.

[Rune]

Guess us socially awkward people can just go die now.

[Arty]

6 hours ago, Trik'Stari said:

I wonder how end-to-end encrypted chat programs will factor into this, if at all.

probably will be ""Oh they use encrypted chat, automatic denial due to hiding. ""

[Trik'Stari]

42 minutes ago, Arty said:

probably will be ""Oh they use encrypted chat, automatic denial due to hiding. ""

Wouldn't be surprising.

[alicskysareblue]

Guess watching  porn on phones is a big no-no 

 

Ah well fuck'em