Can Social Media Affect Your Credit?

In a world where almost everyone seems to have a Facebook, MySpace or Twitter account, it’s no wonder financial institutions are itching to get their hands on your personal information. But can your social media pages affect your credit? Surprisingly, the answer is yes…but that doesn’t mean it’s a bad thing.

If you’re in the process of getting credit repair help through a credit repair program, it’s possible that your social media pages can improve your chances of getting credit. If your social media pages are kept open to the public and you apply for fresh lines of credit, it’s possible (or even likely) that the financial institution considering your application will check out your pages.

When they’re snooping around your Facebook or Twitter page, they collect information and create a consumer profile about you. So, if you’re a fan of a popular credit repair program on Facebook or Tweet about getting credit repair help, the institutions will see that and take notice. This information gives them insight into your behavior patterns, and gives them a better perspective of your creditworthiness.

However, it’s not just about whom you follow on Twitter or who you’re a fan of on Facebook – they also look at whom you’re friends with and what they like. Overall, it’s more about acquiring as much usable marketing data as possible, and less about improving or harming your actual credit score.

By figuring out which groups of people are most likely to seek credit repair help or enter into a credit repair program, financial institutions are able to target their marketing messages more effectively and efficiently. This means that if you’re friends with a lot of people who have bad credit histories, your chances of being marketed to are higher than somebody who only has friends with good credit.