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There's something I've been thinking about a lot lately and wanted to get everyone's view on the subject.
If you're using your banks bill pay system to pay your credit card bills and let's say you have a credit card with that bank too.
Do you think they will see what you're paying your other creditors in comparison to what you're paying them? Meaning if you're paying one creditor several hundred dollars every couple of weeks, but only paying your banks credit card $100 a month, do you think they will get jealous of the business you're giving the other creditors and result in AA?
To sum it up, do you think they monitor your bill pay amounts goin out?
Thanks for any insight...
i wouldn't worry about it. if they do take AA because you pay another card more then they will loose my business plus i am going to go out on a limb here and say it could be a major privacy issue as they are using data against you that is not court ordered. i could be completely wrong too
@afbar1114 wrote:i wouldn't worry about it. if they do take AA because you pay another card more then they will loose my business plus i am going to go out on a limb here and say it could be a major privacy issue as they are using data against you that is not court ordered. i could be completely wrong too
You know, that's actually an interesting statement. I bet there is some sort of privacy violation that would cover such things. Although they wouldn't admit to doing it I'm sure. But that probably sums up the fact that they wouldn't do it. Humm...
Why does using Billpay matter? I pay everything from the CC website and my statements will still show AMEX, Chase, etc.
@BrokaToe wrote:There's something I've been thinking about a lot lately and wanted to get everyone's view on the subject.
If you're using your banks bill pay system to pay your credit card bills and let's say you have a credit card with that bank too.
Do you think they will see what you're paying your other creditors in comparison to what you're paying them? Meaning if you're paying one creditor several hundred dollars every couple of weeks, but only paying your banks credit card $100 a month, do you think they will get jealous of the business you're giving the other creditors and result in AA?
To sum it up, do you think they monitor your bill pay amounts goin out?
Thanks for any insight...
Financial institutions do not get "jealous". That's a human emotion not recognized by a system platform. Business decisions to integrate a bill paying service into a uniform service platform is simply a convenience for the consumer. Truth of the matter is, no one is sitting there monitoring which creditor receives what as far as payment presentment goes.
Yes, activities/transactions are monitored (especially for suspect or unusual patterns). However, AA would only result based on any T&C violation of your bank's bill pay service. Financial institutions are far less concerned whether you paid AMEX $1,200 vs Chase $100.
The banks do not care. Their algorithms generally go off of public credit reports.