As most of our readers probably know, lenders offering unsecured loans, cash loans, personal loans, and other forms of debt usually consider a potential borrower’s credit history when making a decision about lending money. This is why so many savvy borrowers engage in a little credit repair before applying for a loan.
Media reports today, however, suggest that even if you fix your credit, some online habits might actually be hurting your chances of securing a loan. It seems that some credit agencies and companies are going online to learn more about potential borrowers, checking social networking sites such as Facebook to see what sorts of comments people make. It is perfectly legal, since users of these sites make this information public to anyone. If you write on your Facebook page that you love to shop and run up big bills, that could hurt your chances for a loan, apparently, especially if your credit has some dings on it to begin with.
It doesn’t hurt to check out what sort of impression you make online. You never know who’s checking out your online profile – it could be a date, but it could be a lender or a potential boss.