Old News: Facebook sells data. New news (to me): It can also affect your credit score, health insurance, and tax rates. →
I think we can all agree that it’s old news that employers will Google your Facebook profile. What is not well-known to me, however, is that your Facebook/Twitter/Google searches and such will also be sold, compiled into data, and then can be used against you.
If your Facebook photos from your travelling keep showing up, the IRS can determine that you have enough money to keep travelling and affect your tax rates.
When you “Google” things online (for research or for a friend or out of curiosity), health insurance companies can take the data and decide that you might have some pre-existing medical conditions and amp up your insurance fees.
The craziest thing, for me, is finding out that not only do your searches matter so intensely - it’s that if your neighbors are also searching some things, your credit score can change - even if you pay all your bills on time anyway!
When an Atlanta man returned from his honeymoon, he found that his credit limit had been lowered to $3,800 from $10,800. The switch was not based on anything he had done but on aggregate data. A letter from the company told him, “Other customers who have used their card at establishments where you recently shopped have a poor repayment history with American Express.”
Wow.
