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Contributor
davidboca
Posts: 83
Registered: ‎11-03-2007
0

According to this report, where you use your card can hurt! Check this out.

Valued Member
shy
Posts: 33
Registered: ‎09-24-2007
0

Re: According to this report, where you use your card can hurt! Check this out.

Hilarious!  I guess AMEX won't leave home when I go to the Tavern anymore.  Gosh, how many points do you think I lose for going to Ross, TJMaxx and Marshalls every other day...lol!  Simply hilarious.
 
Thanks for the article. 
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: According to this report, where you use your card can hurt! Check this out.


Ridiculous and misleading!
 
For the first two minutes of the interview, they are discussing their shock and outrage at the "fact" that "your credit rating will be affected by where you use your credit card!"
 
All the while, they are flashing statistics on the screen regarding traditional credit scoring models.  "Credit scores range from 300-850."  Blah, blah, blah.
 
Not until about two minutes into it are we then informed that this discussion has nothing to do with actual credit scores that are calculated at the CRAs.  Instead, we're talking about internal risk models that CCCs themselves use in order to determine risk levels for their cardholders.
 
Just to be clear, since the interviewer herself (and the interviewee) didn't think it was very important to mention until the interview was more than halfway over:
 
This has nothing whatsoever to do with FICO or any other consumer credit score.
 
Period.
 
Even after that little tidbit was mentioned, they still found it necessary to mention Fair Isaac in the graphics on the screen.
 
This is journalism?
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Frequent Contributor
firstinlastout
Posts: 339
Registered: ‎12-12-2007
0

Re: According to this report, where you use your card can hurt! Check this out.

Interesting ! I didn't know actual credit card companies determine your "risk" based on where you shop. Very very interesting.
God is keeping score....be good to others.
Moderator Emeritus
WhirledPeasPlease
Posts: 3,417
Registered: ‎12-27-2007
0

Re: According to this report, where you use your card can hurt! Check this out.



cheddar wrote:

Ridiculous and misleading!
 
For the first two minutes of the interview, they are discussing their shock and outrage at the "fact" that "your credit rating will be affected by where you use your credit card!"
 
All the while, they are flashing statistics on the screen regarding traditional credit scoring models.  "Credit scores range from 300-850."  Blah, blah, blah.
 
Not until about two minutes into it are we then informed that this discussion has nothing to do with actual credit scores that are calculated at the CRAs.  Instead, we're talking about internal risk models that CCCs themselves use in order to determine risk levels for their cardholders.
 
Just to be clear, since the interviewer herself (and the interviewee) didn't think it was very important to mention until the interview was more than halfway over:
 
This has nothing whatsoever to do with FICO or any other consumer credit score.
 
Period.
 
Even after that little tidbit was mentioned, they still found it necessary to mention Fair Isaac in the graphics on the screen.
 
This is journalism?
 


No, it's FoxNews.
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: According to this report, where you use your card can hurt! Check this out.

There have been random posts here about where not to use your card first time out. Seems like Home Shopping Network was naughty, go figure.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: According to this report, where you use your card can hurt! Check this out.



firstinlastout wrote:
Interesting ! I didn't know actual credit card companies determine your "risk" based on where you shop. Very very interesting.

Yes, many of them do this.
 
They like Starbucks, btw. :smileywink:
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008
0

Re: According to this report, where you use your card can hurt! Check this out.



cheddar wrote:


firstinlastout wrote:
Interesting ! I didn't know actual credit card companies determine your "risk" based on where you shop. Very very interesting.

Yes, many of them do this.
 
They like Starbucks, btw. :smileywink:
 


Well if they like Starbucks, I should have a $40k credit line with Chase by next month! :smileyvery-happy:
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: According to this report, where you use your card can hurt! Check this out.



cheddar wrote:


firstinlastout wrote:
Interesting ! I didn't know actual credit card companies determine your "risk" based on where you shop. Very very interesting.

Yes, many of them do this.
They like Starbucks, btw. :smileywink:



The 5 Dollar breakfast at Mickie D's wasn't a good idea huh? :smileyhappy:
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
0

Re: According to this report, where you use your card can hurt! Check this out.

Talk about blatant snob appeal.

I think they're playing with fire. All it would take would be for a lawyer somewhere to show that these businesses that AMEX apparently frowns on using a card for have a higher-than-average patronage by minorities, and WHAM--you've got a class-action lawsuit for racially discriminatory practices in granting credit.
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