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Thread: Where you use credit cards may affect your score

  1. #21
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Goobieman View Post
    You say this as if the credit card companies don't have a right to know where you use thier card.
    Those records are mostly A) for the consumer's convenience, and B) for their statistical data. When they actually try to modify consumer behavior then they have crossed the line. It's one thing to punish people for not paying their bill on time and holding a big balance on their credit card. It's another thing to punish responsible people for using the card at a hospital, or a marriage counselor, or even a strip club...ESPECIALLY when they won't tell the consumers where they can and can't use the card without incurring a penalty.

    Quote Originally Posted by Goobieman
    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.
    You act as though access to credit is just any fungible product with an endless array of options available. If this is not banned, in a few years it will be impossible to get a credit card that doesn't do these things. And if you allow this, then the credit system will become progressively more and more invasive.

    Perhaps your perspective is warped because you don't own a credit card. But many of us who live in the 21st century would prefer to see some 21st century privacy laws as well.
    Last edited by Kandahar; 01-29-09 at 01:26 PM.
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  2. #22
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Kandahar View Post
    Those records are mostly A) for the consumer's convenience, and B) for their statistical data.
    Whatever reasons you want to assign them, they still have the absolute right to know where their cards are used.

    When they actually try to modify consumer behavior then they have crossed the line. It's one thing to punish people for not paying their bill on time and holding a big balance on their credit card. It's another thing to punish responsible people for using the card at a hospital, or a marriage counselor, or even a strip club.
    Your recourse is simple:
    Dont use the cards of companies that do this.

    You act as though access to credit is just any fungible product...
    You act as if it is your right.

    Perhaps your perspective is warped because you don't own a credit card. But many of us who live in the 21st century...
    Ah -- the inevitiable ad hom.

  3. #23
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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Goobieman View Post
    Whatever reasons you want to assign them, they still have the absolute right to know where their cards are used.

    Your recourse is simple:
    Dont use the cards of companies that do this.
    And again, you are simply ignoring the fact that at the pace information technology accelerates, that will not be an option in just a few years...unless it is banned.

    Quote Originally Posted by Goobieman
    You act as if it is your right.
    If you shut off the credit spigot to responsible consumers, then it causes more systemic problems than just someone not being able to get a credit card (although that could certainly be a big personal problem as well). If there has ever been an economic climate in the history of the world where this should be more obvious, I can't think of it.

    Quote Originally Posted by Goobieman
    Ah -- the inevitiable ad hom.
    Not an ad hom, just making the point that we live in an era of high-speed communications and information technology. The laws that were applicable in 1980 are not applicable in 2009. If you don't stop these kind of intrusive methods now, they'll just become more and more flagrant and ubiquitous.
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  4. #24
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    Re: Where you use credit cards may affect your score

    They don't want 2009, or even 1980, they want 1890 or whenever we switched over from the gold reserve.
    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
    And again, you are simply ignoring the fact that at the pace information technology accelerates, that will not be an option in just a few years
    Sure it will - as long as there is cash, you can -always- pay cash.
    It might not be as easy as you might like; there is a price for convenience.

    If you shut off the credit spigot to responsible consumers, then it causes more systemic problems than just someone not being able to get a credit card...
    This doesn't shut off anything. You wasnt credit, you can get it.
    You just have to play by the rules of the people that give you that credit.
    Your choice, one you are free to make.

    Not an ad hom....
    Really.
    But many of us who live in the 21st century...
    How does this not imply that I do NOT live in the 21st century, with my backward ways of living, thinking, etc...?

  6. #26
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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?
    Not really.

    If I use my credit card in a bad part of town, or to buy 1000 kg of lard, then they could in theory raise my rates or cut my credit, because I have shown "bad judgement" of some sort, depending on what they see as "bad judgement".

    The lard could mean I am fat and have health problems. That I am starting a burger joint that they are not aware off does not come into the picture.

    The bad part of town, could mean I either frequent the place or come from the place or know someone there.. either way, I am putting myself in danger, which boosts the risk for the company. It could be that I just happen to need gas, the station was in that area...

    In principle there is no difference between a credit card company using my spending habits or personal information as I mentioned.. only real difference is that the later is more accurate so to say, but both punish me for my way of life.. or rather how they "see" how I use my life.

    Profiling, while useful, can also be very dangerous.
    PeteEU

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Goobieman View Post
    Sure it will - as long as there is cash, you can -always- pay cash.
    It might not be as easy as you might like; there is a price for convenience.
    And what makes you think A) that there will always be cash, and B) that it will always be a feasible way of doing business?

    Quote Originally Posted by Goobieman
    This doesn't shut off anything. You wasnt credit, you can get it.
    You just have to play by the rules of the people that give you that credit.
    Your choice, one you are free to make.
    If they all institute this rule (which they will if they're allowed to do so), then you won't have the choice.

    Do you feel the same way about health insurance companies using your DNA against you? Do you feel the same way about potential employers using past arrests (not convictions) against you?

    Not ALL abuses of power come from the government...

    Quote Originally Posted by Goobieman
    Really.

    How does this not imply that I do NOT live in the 21st century, with my backward ways of living, thinking, etc...?
    You have two choices: A) whine some more about it, B) address my point that as technology progresses, new laws are necessary.
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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.
    No you dont have a right, I agree.

    But unless there in the contract you have with them clearly states that they can use any and all methods to rate your credit, then they should not be using evasive methods like this. And they have to make it very clear that your future shopping habits can be used the determination.
    PeteEU

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by PeteEU View Post
    But unless there in the contract you have with them clearly states that they can use any and all methods to rate your credit...
    Have you read your credit card contract?

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    Re: Where you use credit cards may affect your score

    Quote Originally Posted by Kandahar View Post
    And what makes you think A) that there will always be cash, and B) that it will always be a feasible way of doing business?
    None of this addresses the validity of what I said.
    If you can pay with cash, then you can pay with whatever replaces it.

    If they all institute this rule (which they will if they're allowed to do so), then you won't have the choice.
    Sure you will. You can choose to abide by their rules or not -- same choice that you have now.

    Do you feel the same way about health insurance companies using your DNA against you? Do you feel the same way about potential employers using past arrests (not convictions) against you?
    Not ALL abuses of power come from the government...
    Again:
    You can choose to abide by their rules or not -- same choice that you have right now.

    You have two choices:
    False dichotomy.
    I can continue to take what you saod as an ad hom, and treat it accordingly.

    As to the 'substance' -- its been addressed. You have a choice.

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