best background check service


What’s a Predictive Score?

Most consumers know that creditors use information about them and their credit experiences – like the number and type of accounts they have, their bill paying history, and whether they pay their bills on time – to create a credit score, which helps predict how creditworthy they are. What most consumers don’t know is that data brokers offer companies scores for other purposes unrelated to credit – for example, for marketing, advertising, identity verification, and fraud prevention. Businesses use these scores to decide which transactions require further scrutiny, what offers and prices to offer certain consumers, and even in what order to answer customer service calls.

Some have raised concerns about consumers’ awareness about what’s going on and the accuracy of the data used to create these predictive scores. Others wonder how these scores might be used in the future.

Read more

Post By (955 Posts)