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How credit scores predict what you will buy next

Valued Contributor

How credit scores predict what you will buy next

For decades, FICO has used big data and mathematical algorithms to calculate people's three-digit credit scores. Now it's using the same technology to predict whether a consumer's likely to buy a product in-store or click on a link online.

 

7 REPLIES
Moderator

Re: How credit scores predict what you will buy next

Creepy, Im not interested in being tracked that closely and I actively try and block all tracking bots.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Moderator

Re: How credit scores predict what you will buy next


gdale6 wrote:

Creepy, Im not interested in being tracked that closely and I actively try and block all tracking bots.


I pretty much lived by this code and also didn't engage in social media... and then found out apparently to date in the 21st century you really need a social media profile.  Oh well, time to throw out crap in all of it's stunningly boring glory.

 

On topic, I sort of wonder though if at some point this might affect shopping too though if I had to guess it won't, hard to say, but creepy indeed.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Community Leader
Super Contributor

Re: How credit scores predict what you will buy next

ok, that is scary! but, as of late, if they were to track me, and "predict" my next purchase, it would be food, LOL.
(BK7 d/c-08/2013/FICO-400's) ~ 07/2017 FICO 08- EQ-669, TU-676, EX-681
Scores being held down by tons of INQ/New acts Smiley Wink
Moderator

Re: How credit scores predict what you will buy next


pizza1 wrote:
ok, that is scary! but, as of late, if they were to track me, and "predict" my next purchase, it would be food, LOL.

I resemble that remark Smiley Happy.  Well, I may need to figure out different shoes for work, untucking the shirt should be good enough there.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Moderator

Re: How credit scores predict what you will buy next

The extent of my social media presence is this site; I have the same name as my father who refuses to use 'Sr.' (don't get me started) so most people looking online for me would find him, anyway... which I think is actually quite comical especially since he's quite active on Facebook.  Smiley Very Happy

 

That being said, I've found that even browsing on google their advertising algorithms have figured out by my searches that I'm a male age 40+... I always thought of myself as 'unique' and hard to nail-down (OK, read: 'odd' and 'strange')... I guess I'm not that different from all the other 40+ dudes out there after all.  I don't know if that's a good thing or a bad thing... LOL.  Smiley Surprised

 

I can clear everything in all browsers and in a matter of weeks it has me 'figured out' again... I have to say, it would be impressive if it weren't so darn creepy.  I do admit that with time I'm not as alarmed as I once was... I guess I've become desensitized the last few years.  I can only imagine how it would be if I were on social media... wow. 

Valued Contributor

Re: How credit scores predict what you will buy next

All of this "tracking" in the name of "marketing" is down right scary. Privacy has forever taken a change fore the worse. And yes, big brother is always watching.  

 

It's only the identity of "Big Brother" that is constantly changing. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Highlighted
Valued Contributor

Re: How credit scores predict what you will buy next

Medical offices, billing companies - they do the whole data trolling too.

 

With all of DH's stuff going on, I laugh when the person at the front desk hands us back the military ID and says, "No, I HAVE to have your driver's license!"  Uh, no you don't!  Smiley Happy  All you are suppose to do is verify that the person you think you are saying matches the ID card.  Funny how they never actually look at the ID card picture.

 

And the billing companies (especially medical) INSIST on having the person's DOB, SS, physical address, biling address, name of the bank, name of employer, address and phone number of the employer, as well as personal references as well as the invoice number and the balance due BEFORE they will accept a payment!  And if you aren't hte patient, they demand all of yoru pesonal information to, for documentation purproses, as they must document who made the payment.  Uh, no, you don't need all of that.  You were hired to send out invoices and to collect payment.  I call to make a payment, you accept my payment.  Who cares who I am and all of my personal information if the bill is being paid?

 

And retail stores?  Oh man!  First thing out of the cashier's mouth - "What is your phone number?"  Followed by, "What is your email?"   And sometimes followed by "What is your address?"  I tell them all, no phone number, no email, no address, no thank you.

 

I clear the cache often.  I am always amazed how facebook.com or ebay.com or careerbuilder.com has left cookies or has cache on my computer when I don't go to their sites!  And twitter too!  I don't even know how to use twitter and I have never ever been to their site!

 

Scarey!