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Credit Card Payments & Early Warning

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Anonymous
Not applicable

Credit Card Payments & Early Warning

Ordered my Early Warning report. Turns out USAA, BOA, & Capital One Bank report "all" the ACH payments made from their accounts to Early Warning. These are payments to my various credit cards, including the name of the company paid and the dollar amount. 

 

Is all this data shared with third parties that may request your EA report, like other banks, etc? The sharing of payments history seems like overkill. 

 

 

 

 

18 REPLIES 18
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning

Lovely. Now everyone gets to know who you bank with and other fun personal details. Smiley Happy

 

Message 2 of 19
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning


Yet another reason why I don't do ACH transfers between my primary bank and my credit unions. There is enough information out there already.

Message 3 of 19
Callandra
Valued Contributor

Re: Credit Card Payments & Early Warning


@Anonymous wrote:

Lovely. Now everyone gets to know who you bank with and other fun personal details. Smiley Happy

 


It's scary sometimes when you think about how much is out there about you. 

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015
Message 4 of 19
enerey
Regular Contributor

Re: Credit Card Payments & Early Warning

what is early warning?

Message 5 of 19
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning


@Callandra wrote:

@Anonymous wrote:

Lovely. Now everyone gets to know who you bank with and other fun personal details. Smiley Happy

 


It's scary sometimes when you think about how much is out there about you. 


So true.. and trying to worry about every little thing will drive you crazy! It's the world we live in today.. 

Message 6 of 19
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning


@Anonymous wrote:

Ordered my Early Warning report. Turns out USAA, BOA, & Capital One Bank report "all" the ACH payments made from their accounts to Early Warning. These are payments to my various credit cards, including the name of the company paid and the dollar amount. 

 

Is all this data shared with third parties that may request your EA report, like other banks, etc? The sharing of payments history seems like overkill. 

 

 

 

 


The 'problem' is if you look to see who OWNS what....as shared on their website

 

"About Early Warning
Early Warning is owned by Bank of America, BB&T, Capital One, JPMorgan Chase, and Wells Fargo.

Early Warning provides risk management solutions to a diverse network of 2,300 financial institutions,(yes USAA is one) government entities and payment companies, enabling businesses and consumers to transact securely and conveniently.

Early Warning’s unique business model facilitates a data exchange system based on collaborative, shared intelligence.

For 25 years, the company has worked with organizations of all sizes to advance collaborative risk management and fraud prevention. "

 

It's ALL about THEM ...not us, only about them spying and conspiring to try to 'over-protect' as many nickels as possible...

 

In late 2015... U.S. Bank and PNC joined the cartel...."Five of the six largest banks in the U.S. and multiple regional financial institutions have joined the network, and membership is open to banks and credit unions of all sizes. "  add to this the payment exchange that these guys OWN and we're pretty much screwed...

 

Once EW made inroads to replace Chexsystems for many smaller banks and CU's (see USAA) it was a wrap...too often we 'think' we've left them and it turns out the bank/cu we USE, uses THEM...so the laugh is still on us.......

 

The big 5 banks pulled off what the big 3 credit bureaus couldn't ...TU, EX & EF 'tried' the 'our version' thing with the Vantage score....they failed but the big banks hit a freaking home run when they set up their 'our version' of Chexsystems/Telecheck etc....talk about runnin' ish

 

Because of WHO they were and the crazy low COST they've cornered a HUGE portion of the market (again, most were their clients to begin with) but for too many banks/cu's it was too good a deal to pass up on using them vs anybody else...let's face they have data stored between them so if you're Joe Blow or Bert n Ernie bank/cu

what better or cheaper source is there to get the scoop on folks so most just JOINED up with the big gang making the gang even bigger!

 

And we pay our bills with ach or use debit or credit cards for EVERYTHING so there are no lies ....these muthers can TELL YOU what you spend, buy and how often...they can REMIND you when it's time to buy ish paper for the bathroom and flowers for your girl because you done eff up 'something'....oh and you forgot cat food!

 

Message 7 of 19
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning


@Anonymous wrote:

Ordered my Early Warning report. Turns out USAA, BOA, & Capital One Bank report "all" the ACH payments made from their accounts to Early Warning. These are payments to my various credit cards, including the name of the company paid and the dollar amount. 

 

Is all this data shared with third parties that may request your EA report, like other banks, etc? The sharing of payments history seems like overkill. 

 

 

 

 


Thanks for the information.

Message 8 of 19
Kevin86475391
Frequent Contributor

Re: Credit Card Payments & Early Warning


@Anonymous wrote:

@Anonymous wrote:

Ordered my Early Warning report. Turns out USAA, BOA, & Capital One Bank report "all" the ACH payments made from their accounts to Early Warning. These are payments to my various credit cards, including the name of the company paid and the dollar amount. 

 

Is all this data shared with third parties that may request your EA report, like other banks, etc? The sharing of payments history seems like overkill. 

 

 

 

 


The 'problem' is if you look to see who OWNS what....as shared on their website

 

"About Early Warning
Early Warning is owned by Bank of America, BB&T, Capital One, JPMorgan Chase, and Wells Fargo.

Early Warning provides risk management solutions to a diverse network of 2,300 financial institutions,(yes USAA is one) government entities and payment companies, enabling businesses and consumers to transact securely and conveniently.

Early Warning’s unique business model facilitates a data exchange system based on collaborative, shared intelligence.

For 25 years, the company has worked with organizations of all sizes to advance collaborative risk management and fraud prevention. "

 

It's ALL about THEM ...not us, only about them spying and conspiring to try to 'over-protect' as many nickels as possible...

 

In late 2015... U.S. Bank and PNC joined the cartel...."Five of the six largest banks in the U.S. and multiple regional financial institutions have joined the network, and membership is open to banks and credit unions of all sizes. "  add to this the payment exchange that these guys OWN and we're pretty much screwed...

 

Once EW made inroads to replace Chexsystems for many smaller banks and CU's (see USAA) it was a wrap...too often we 'think' we've left them and it turns out the bank/cu we USE, uses THEM...so the laugh is still on us.......

 

The big 5 banks pulled off what the big 3 credit bureaus couldn't ...TU, EX & EF 'tried' the 'our version' thing with the Vantage score....they failed but the big banks hit a freaking home run when they set up their 'our version' of Chexsystems/Telecheck etc....talk about runnin' ish

 

Because of WHO they were and the crazy low COST they've cornered a HUGE portion of the market (again, most were their clients to begin with) but for too many banks/cu's it was too good a deal to pass up on using them vs anybody else...let's face they have data stored between them so if you're Joe Blow or Bert n Ernie bank/cu

what better or cheaper source is there to get the scoop on folks so most just JOINED up with the big gang making the gang even bigger!

 

And we pay our bills with ach or use debit or credit cards for EVERYTHING so there are no lies ....these muthers can TELL YOU what you spend, buy and how often...they can REMIND you when it's time to buy ish paper for the bathroom and flowers for your girl because you done eff up 'something'....oh and you forgot cat food!

 


LOL, this is like my favorite post ever on this forum! Smiley Very Happy

 

True story though. I wanna see someone make a documentary about this.

Message 9 of 19
Anonymous
Not applicable

Re: Credit Card Payments & Early Warning


@Anonymous wrote:

@Anonymous wrote:

Ordered my Early Warning report. Turns out USAA, BOA, & Capital One Bank report "all" the ACH payments made from their accounts to Early Warning. These are payments to my various credit cards, including the name of the company paid and the dollar amount. 

 

Is all this data shared with third parties that may request your EA report, like other banks, etc? The sharing of payments history seems like overkill. 

 

 

 

 


The 'problem' is if you look to see who OWNS what....as shared on their website

 

"About Early Warning
Early Warning is owned by Bank of America, BB&T, Capital One, JPMorgan Chase, and Wells Fargo.

Early Warning provides risk management solutions to a diverse network of 2,300 financial institutions,(yes USAA is one) government entities and payment companies, enabling businesses and consumers to transact securely and conveniently.

Early Warning’s unique business model facilitates a data exchange system based on collaborative, shared intelligence.

For 25 years, the company has worked with organizations of all sizes to advance collaborative risk management and fraud prevention. "

 

It's ALL about THEM ...not us, only about them spying and conspiring to try to 'over-protect' as many nickels as possible...

 

In late 2015... U.S. Bank and PNC joined the cartel...."Five of the six largest banks in the U.S. and multiple regional financial institutions have joined the network, and membership is open to banks and credit unions of all sizes. "  add to this the payment exchange that these guys OWN and we're pretty much screwed...

 

Once EW made inroads to replace Chexsystems for many smaller banks and CU's (see USAA) it was a wrap...too often we 'think' we've left them and it turns out the bank/cu we USE, uses THEM...so the laugh is still on us.......

 

The big 5 banks pulled off what the big 3 credit bureaus couldn't ...TU, EX & EF 'tried' the 'our version' thing with the Vantage score....they failed but the big banks hit a freaking home run when they set up their 'our version' of Chexsystems/Telecheck etc....talk about runnin' ish

 

Because of WHO they were and the crazy low COST they've cornered a HUGE portion of the market (again, most were their clients to begin with) but for too many banks/cu's it was too good a deal to pass up on using them vs anybody else...let's face they have data stored between them so if you're Joe Blow or Bert n Ernie bank/cu

what better or cheaper source is there to get the scoop on folks so most just JOINED up with the big gang making the gang even bigger!

 

And we pay our bills with ach or use debit or credit cards for EVERYTHING so there are no lies ....these muthers can TELL YOU what you spend, buy and how often...they can REMIND you when it's time to buy ish paper for the bathroom and flowers for your girl because you done eff up 'something'....oh and you forgot cat food!

 


And y'all are acting like it's a surprise...

 

Now, I like playing the credit game and all, but when they start making the little sub-dermal microchip mandatory, that's when I'll take a bow...

 

That is all.

Message 10 of 19
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