Secret Consumer Scores Reports?
Secret consumer scores reports? Created about you based on your retail purchase history, demographic information and social media activity ? are being used to figure out things like whether you’re pregnant, how likely you are to switch your cellphone carrier to how long you’re likely to stay on the job.
The use of the secret scores are on the rise. And unlike credit reports based on your payment history, you have no way to protect yourself from errors in consumer reports, according to a study from the World Privacy Forum.
Businesses, health care providers, financial institutions, law enforcement, retail stores, federal and state government and businesses all use secret consumer scores to predict behaviors like spending, health, fraud, profitability and much more, the report says.
Some of the scores being kept on you:
Financial and risk scores: Measure how likely you are to commit fraud or your neighborhood’s typical credit risk.
Consumer profitability scores: Predict and identify which households are profitable marketing targets or likely to repay debt.
Job security score: How likely you are to keep your job (and therefore be able to repay debt)
Spending and consumer prominence scores: Measure you economic footprint based on your past purchases. They match lifestyles, demographics and spending habits with neighborhoods and households.
Donor scores: Identify which households will make big charitable contributions.
Churn scores: Predict when you’ll move your account with a bank, cellphone or cable provider. The high churners may get special deals to keep them as customers.
Fraud score: Ever been on vacation and gotten a call from your credit card company asking if you just bought gas in a town far from home? You’ve experienced a fraud scoring system. If you’re an identity theft victim, you can end up with a damaged, incorrect fraud score.
Loan agent scorecards: Rate the quality of loan agents. If your loan agent has a low score, you could pay more for a loan you get through him than a loan from an agent with a higher score.
To create the scores, companies analyze financial, demographic, ethnic, racial, health and social information about you.
The World Privacy Forum says secret consumer scores are unfair because:
You aren’t told about the data sources used in scores.
You can’t control use of the score.
You can’t opt out of being the subject of a consumer score or prevent an organization from scoring you.
The Forum wants more openness in consumer scores. It also believes the Federal Trade Commission and the Consumer Financial Protection Bureau should regulate consumer scores. Secret Consumer Scores Reports?
Secret Consumer Scores – not credit scores
About Deborah Laemmerhirt
Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.
Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.
I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers.
As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible.
My services include:
Explaining the home selling and buying process thoroughly
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I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process.
I specialize in both Residential and Commercial Properties.
I also head a Real Estate Group to provide you with expert service and support.
Areas of Expertise
Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings.
I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.
