Comments on CreditMattersBlog.com: What Does Your Credit-Card Company Know About You?...

Credit card companies know way too much, and if th...

2010-05-29T04:18:41.346-04:00

Credit card companies know way too much, and if they don't know they'll find out. A while back I got into trouble with one of my accounts, and they had the gall to call up my ex-wife looking for me. We've been divorced for 17 years; I didn't even know where she was. (I got the message through a brother-in-law whom she was able to contact).

There are a million credit transactions everyday; ...

2010-05-25T17:42:52.527-04:00

There are a million credit transactions everyday; and it’s probably not surprising that credit card companies collect all data and monitor spending patterns to determine how credit-worthy a consumer is.
Credit card companies utilize spending information using your credit card as it gives them an idea about your financial stability. A sudden change in your spending information may imply that

I just canceled my Amazon.com Chase credit card be...

2009-10-26T01:09:54.851-04:00

I just canceled my Amazon.com Chase credit card because of their high interest rate which they refused to reduce or remove because of my excellent credit record. Considering that today 4/23, Congress is reviewing the credit industry is being investigated regarding unfair consumer practices with credit card companies charges. Since I have other credit cards I don’t need Chase Bank or their credit

TU did an interesting study of actual risk by stat...

2009-05-19T02:11:00.000-04:00

TU did an interesting study of actual risk by state. The ENTIRE Southeastern US and most of the Southwest has a lot more defaulters living in those states than elsewhere.

The least likely to default state in the US is North Dakota.

They did not even need to compile the data to figu...

2009-05-15T04:26:00.000-04:00

They did not even need to compile the data to figure this out. Any items that are typically associated with the lower social classes are going to be associated with higher default rates.

This just confirms the obvious.

I wonder if they take into consideration that not ...

2009-05-14T20:12:00.000-04:00

I wonder if they take into consideration that not everyone works from 9 to 5. Just because you are home during the day doesn't make you a deadbeat. I recently switched from a 3 year stint on a swing shift to straight nights. I miss alot of aleep, but never a payment!

I dont think there psychologists did to well look ...

2009-05-14T19:21:00.000-04:00

I dont think there psychologists did to well look where they are now :) lol

azntg wrote: "It is rather disturbing just how muc...

2009-05-14T09:36:00.000-04:00

azntg wrote: "It is rather disturbing just how much records are kept about an individual"

I agree. Perhaps we need new privacy laws for the 21rst century. Americans should have a right to privacy.

A little bit, V. I know the search words that folk...

2009-05-14T08:08:00.000-04:00

A little bit, V. I know the search words that folks use to find me. And I know that I have more readers from the east coast than the west coast, which explains why I try to keep a posting a schedule that caters more to those who live east.

CM, aren't you data-mining us for your "10 Credit ...

2009-05-14T04:55:00.000-04:00

CM, aren't you data-mining us for your "10 Credit Questions & Answers" feature?

It is rather disturbing just how much records are ...

2009-05-14T01:25:00.000-04:00

It is rather disturbing just how much records are kept about an individual in general and moreso on how each record is carefully scrutinized and analyzed.

Nevertheless, the way things are structured right, I think it's still advantageous (overall) to take advantage of the potential perks while keeping in mind that you are being watched. Of course, once that situation changes, you can

Suppose I'm on a credit monitoring site, and test ...

2009-05-13T19:10:00.000-04:00

Suppose I'm on a credit monitoring site, and test the 'bad' option: "Skip payment on every bill, what happens to my score"? (FICOs near 810, I can pay all my balances with the cash in my wallet, don't worry!) But I'm curious about the other side ...

Does this mark me as "more likely to default"? Are they selling this information about me?

I've made many purchases at Amazon late at night. ...

2009-05-13T18:20:00.000-04:00

I've made many purchases at Amazon late at night. I wonder how they will profile me? Maybe I should stick with the brick and mortar stores and make purchases between the hours of 9am and 9pm.

"Are cardholders suddenly logging in at 1 in the m...

2009-05-13T18:17:00.000-04:00

"Are cardholders suddenly logging in at 1 in the morning? It might signal sleeplessness due to anxiety. Are they using their cards for groceries? It might mean they are trying to conserve their cash."

I have to give them a big WTF???

I use my credit card at grocery stores for the rewards. Did the bozo who came up with the profile figure in people like me? I've NEVER missed a

Spooky, YAY.. bring 'em on!

2009-05-13T17:04:00.000-04:00

Spooky, YAY.. bring 'em on!

It was interesting to read about the breadth of cr...

2009-05-13T15:55:00.000-04:00

It was interesting to read about the breadth of crap that Canadian Tire carries in its stores. It reminded me a lot of American drugstores, except that our drugstores don't carry tires. For all I know, Canadian Tire doesn't carry tires either. In that case, Canadians are just as lamebrained as we are -- a comforting thought.

In our last episode, I offered a puzzle for a once-popular

I'm logging in right now, when I "should be" at wo...

2009-05-13T13:33:00.000-04:00

I'm logging in right now, when I "should be" at work. Conundrum--I am at work, but working from home today. What does that say?

Also, I thought frugal people paying down their debt bought generic? And night owls login at 1 a.m. It seems to me that these statistics screw the people who do the same "risky" behaviors for different reasons.

Clutch, I am wearing my Darth Vader costume. That'...

2009-05-13T13:30:00.000-04:00

Clutch, I am wearing my Darth Vader costume. That's probably why. Ha!

CM, you sound mysterious and scary today.

2009-05-13T13:29:00.000-04:00

CM, you sound mysterious and scary today.

OwduaNM, glad I could be of a service (in pointing...

2009-05-13T13:26:00.000-04:00

OwduaNM, glad I could be of a service (in pointing to the article).

Clutch, I assume everything.

I posted a comment a couple weeks back about how C...

2009-05-13T13:21:00.000-04:00

I posted a comment a couple weeks back about how Capitol One took almost two weeks to apply a payment to my available credit. After reading this article as well as several of the related articles....I think I may have an idea as to why they did that. The payment was made shortly after I returned from a trip to Las Vegas. A trip that I paid for with my credit cards. I have a feeling now that

Hey, what if online banking systems start looking ...

2009-05-13T13:16:00.000-04:00

Hey, what if online banking systems start looking at your cookies to see if you frequent CMB, CB, FW etc...?

Yikes!

"Drewbert said... Just wait till this stuff g...

2009-05-13T12:57:00.000-04:00

"Drewbert said...

Just wait till this stuff gets included in your FICO."

Ya, just make sure you don't log into your myfico account at 1:00 a.m or your score will take a hit :)

By the way, I hope that no one thinks that data mi...

2009-05-13T11:35:00.000-04:00

By the way, I hope that no one thinks that data mining and psychological profiling only started in 2002. This has been going on for a lot longer than that.

What I'm also interested in is what other tools the card issuers are using -- in conjunction with the direct purchasing that they see.

That's why I'm prepared for banks knowledge,before...

2009-05-13T10:07:00.000-04:00

That's why I'm prepared for banks knowledge,before they even realized this...