Do you know your E-Score?

December 29, 2013

You may know your credit FICO® Score and how it affects you positively or negatively.

 

But do you know your E-Scor­e?

 

What is Propen­sity Scor­ing and what does it do? Well, let me tell you so we are crys­tal clear. It will not get you out of speed­ing tick­ets. What propen­sity scor­ing will do is give lenders, advertisers and marketers the abil­ity to iden­tify spending behaviors of different classes of consumers based on purchasing/inquiries— online and offline activities.  Propen­sity Scor­ing enables companies to secretly assign an E-Score to consumers that they are unaware of.

 

Scoring is bad when it is used to make a decision about you that you don’t know about and doesn’t amount to traditional credit score, and therefore these scores cannot be governed by the Fair Credit Reporting Act.  Could E-scores create an invisible two-tiered system?

 

How would employers, home loans lenders, insurance companies, payday loan companies use E-Scores?

Please reload

Featured Posts

Ask Marie: That Could Trigger an IRS Audit?

June 25, 2016

1/10
Please reload

Archive
Please reload

Blog

Follow Me
  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey Instagram Icon
  • Grey Pinterest Icon

3701 Long Beach Blvd. Suite 100, Long Beach CA 90807

Tel: (877) 828-8877

  • Facebook - White Circle
  • Twitter - White Circle
  • White Yelp Icon
  • LinkedIn - White Circle
  • YouTube - White Circle

© 2020 Wealth Management Financial Advisors, Inc. All rights reserved.

This website is owned by a private company that offers business advice, information and other services related to the formation, financing, operation, and management of businesses. All users should perform their own due diligence and research. This website is not a lender and does not broker loans, make loans or make any credit decisions. We have no affiliation with any government agency. Nothing on this website is an offer or a solicitation for a loan. This website is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. None of the information on this site constitutes legal advice.

You also understand that we are not affiliated with the Small Business Administration (SBA). If you need to visit the SBA directly please click here: sba.gov