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Thread: Where you use credit cards may affect your score

  1. #11
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by RightinNYC View Post
    1) It's another way for credit card companies to assess the risk involved in lending cardholders credit. I see no reason why they shouldn't be entitled to use whatever information they have available in making their decisions.
    By the same logic, do you have a problem with them charging blacks higher interest rates, since blacks have lower credit scores on average? Should their be a box on the credit card application to mark your ethnicity, or should your banker just make his best guess?
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by PeteEU View Post
    Just curious, does that include medical, legal and mental records? That is of both the person involved and his/her family? Say a family has had 3 of its female members with breast cancer, then all female members have higher credit rating because they are a bigger risk of contracting cancer and hence dieing and hence not making her payments? How about genetic information? How about where you live or come from? Say a guy who fought his way out of the slums of a major city and made something out of himself, but he is a higher risk because he might have "bad friends" in the old neighbourhood, where his parents still live, which could lower his life expectancy or even put him in jail.. is that okay to lower his or her credit rating for?

    Bascily where does the profiling stop? I understand that they can and should look at your financial situation (job, bank account and such), but what about the other stuff?
    Exactly. This is the type of thing that could easily get out of hand and invade our privacy more and more...and *will* unless it is stopped now. As technology continues to reshape the world, there will be more and more people, governments, and corporations prying into more and more details of our personal life...if we allow them to do so.
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Goobieman View Post
    Its this simple:

    You do not have a right to the money the credit card companies loan you.

    If you do not like how they determine their interest rates/penalty schedules, do not take their money.
    9 posts...that didn't take long.

    It's this simple:
    If this sort of **** becomes the norm (which it inevitably will unless it's banned), people won't have any other options for credit. Invasions of privacy aren't any less invasive or more ethical if they're done by corporations instead of governments.
    Last edited by Kandahar; 01-29-09 at 01:13 PM.
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by RightinNYC View Post
    Do you not see the difference between a credit card company keeping track of where its credit card is used, and a credit card company snooping in someone's medical/legal/mental background?
    No. Maybe Acme Children's Hospital is one of the places on their ****list of places where low-credit people shop. In fact, it probably is.
    Last edited by Kandahar; 01-29-09 at 01:14 PM.
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Kandahar View Post
    No. Maybe Acme Children's Hospital is one of the places on their ****list of places where low-credit people shop. In fact, it probably is.
    That also gives the credit card co. access to medical records if the card is used.

  6. #16
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    Re: Where you use credit cards may affect your score

    Yeah that's a very good point, you use your credit card for medical bills which would allow them to take a pretty good guess at your health.

    Like say a 15,000$ bill from The Cancer Ward for People Who Will Die Soon might indicate a future inability to make payments.
    And why does your tone suggest that you do not care about children?

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Kandahar View Post
    9 posts...that didn't take long.

    It's this simple:
    If this sort of **** becomes the norm (which it inevitably will unless it's banned), people won't have any other options for credit. Invasions of privacy aren't any less invasive or more ethical if they're done by corporations instead of governments.
    You say this as if the credit card companies don't have a right to know where you use thier card.


    Again:
    If you do not like how they determine their interest rates/penalty schedules, do not take their money.

    Free market principles dictate that if enough people think as you do, then the credit card companies that do this will not make money.

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by new coup for you View Post
    Yeah that's a very good point, you use your credit card for medical bills which would allow them to take a pretty good guess at your health.

    Like say a 15,000$ bill from The Cancer Ward for People Who Will Die Soon might indicate a future inability to make payments.
    "were sorry but your card has been CANCELLED"

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by new coup for you View Post
    Yeah that's a very good point, you use your credit card for medical bills which would allow them to take a pretty good guess at your health.
    They have this information, no matter what.

  10. #20
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    Re: Where you use credit cards may affect your score

    I would love to see libertarians defend something that isn't guns, large corporations invading privacy or segregation.
    And why does your tone suggest that you do not care about children?

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