05-15-2013 04:45 AM
05-15-2013 04:45 AM
I don't think it really matters unless you're dining at some really questionable places (strip clubs for instance....)
Like CreditScholar said, Amex seems to be the only lender that is known to keep track. Other lenders might keep track, or they might not, depending on the tier of card you have and the clientele that card is supposed to cater to.
At the end of the day, a whole lot of "low-scoring" transactions are not going to get you into trouble or affect your account drastically. It might just affect whatever targetted promotion they have for you and if the promotion isn't suitable for you in the first place, it's still going to be useless even if they do send it to you. Just use your card as much as you can, and pay on time, and preferably in full. Lenders, especially Amex, are very scared of people defaulting on them.
05-15-2013 04:57 AM
05-15-2013 05:04 AM
Who goes for dinner at strip clubs?? And ive used Amex at strip clubs multiple times before and nothing has happen.
I bounced for a strip club, all I saw was AMEX flashing all night. It was nothing for guys (an some ladies btw) to run five figures thru their cards....
05-15-2013 06:00 AM
Nothing could be further from the truth! As long as you use your card and make the payments on time then you're good to go.. Their is no analyst who is hires to watch your account for "suspicious restaurant spending" ...
"alright, let’s cancel this joker’s card.. he's spent 50 bucks at McDonalds in the last 2 weeks alone.. we can't have that" haha.. Trust me.. you're good to go
05-15-2013 06:22 AM
i for the most part don't believe any of this, mainly because the CC company makes money every time your card is used, reguardless of the amt. you know the hold merchants put on your card for your purchase amt, they pay a fee for that hold, they also pay fees if the amt doesn't match the final amt and if they don't settle the transaction in a certain time frame, and they could pay a whole bunch more fees depending on what info is or isn't sent. i almost never use cash anymore, i just use my cards and pif and nothing has happen to me. there was a something about this on world news a few months ago and they were calling it a spending profile score or somthing to that effect, they said spending at discount stores ect lowers the score, but in the end they said no one was tying it to financial decisions. i think its nothing more than a way for cc's to make extra money off you by selling people's spending profiles to marketers
05-15-2013 07:19 AM
Its absolutely true-credit card companies hate when you eat out and pay with a credit card! Bring cash and tip your server with lots of cash as well if you want to keep your cards!!
Lol, just kidding, I am a waitress at Uno Chicago Grill and I hate credit card tips.
Of course, nobody pays with cash anymore, everyone charges lunch. Like the posters before me, they only care that you pay it back.
05-15-2013 07:22 AM
05-15-2013 07:27 AM
I can personally attest for the so called profiling that Amex does. I won't go into details, but if you are a big spender and make a few purchases at certain places that the vast majority shop at an AA, FR or etc can commence. This was during the credit crunch and they will deny it. I've had TIER 1 credit for years and pushed 4 to 5 figures through them on a monthly basis for quite some time and I was the least of their worries, but they did CLD me. I've even purchased a car on their cards. So if they are capable of doing it once don't think that history can't repeat itself. Now when I had normal limits they could care less at where I shopped and such, but I do watch where I use my Amex at. I even tracked their SPs and the higher the limits they would consistently SP me more often. I know plenty of others that do the same also because the same has happened to them. According to the information that we researched at the time and gathered within us, people that shop at certain places were more likely to default and I do believe this to be true. Regardless, it's called profiling and Amex isn't stupid and do risk mitigation. For the vast majority this won't apply, but for the minority it's a reality.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.