By now it’s no secret that a myriad of apps are collecting a lot of data from your mobile devices. Typically, people say they don’t like this but does behavior change? No. Do we really ever read the terms and user agreement of apps? No. Could even free apps be costing you more than you’d have ever imagined? Absolutely!
Would you think you may have to pay more for insurance because of your smartphone? Would you imagine that you might be turned down for a loan because of your phone? How about being turned down by a landlord? Having to make larger deposits for utility services, down payments, etc?
We might think we understand the implications of the data collected on our devices. In reality, not even close. President Trump’s consideration for a TikTok ban should be the first clue of how much more serious app info collecting happens to be than what we’ve previously considered. Independent of Chinese spying, it relates directly to the questions I’ve asked. According to analysis from consumer advocates, Harvey Rosenfield and Laura Antonini, data being collected by companies through apps are being packaged and sold to interested buyers which could impact most aspects of your life. This data is bundled into what’s called surveillance scores. These scores proclaim to determine how likely you are to miss a payment, break a contract, etc.
Sounds a lot like what credit scores are designed to do right? But this is going deeper according to their findings as it’s aggregated with your online habits as well to create a personal profile of your behavior. If you were to look at a credit score as a background check, think of your surveillance score as a private investigator. This info is being sold and used without your knowledge right now. Of course, user agreements in legalese explain this is possible. Who is buying? Lenders, insurance providers, landlords, service providers, etc. How much could it cost you if you have a poor surveillance score? Literally thousands a year and potentially access to loans, a home, a job, etc. Will this be enough to get you to read user agreements and change your online behavior? I’m betting no. But now you’ve been informed as to what’s really going on. Remember, nothing is free. Apps that are free to you are selling you. Somehow, someway. And free apps could be the most expensive purchases you make in life.
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