Based on CCC. What are your thoughts !

[Brian_Trying_700]

http://www.consumerismcommentary.com/10-purchases-that-can-harm-your-credit/

[compassion101]

I didn't think the coding system was so sophisticated to know the difference between a charge for tire retread vs balancing your tires. I wonder if I am mistaken or the article is mistaken. Anyone know?

[llecs]

I don't think it's as big of a deal they make it out to be. I used my Amex all the time at Wally World, used it paying taxes, used it at spas, and used it paying for a ticket or two without issue. However, Amex hit me with an FR due to using it for legal fees, or so said the CSR.

[jsucool76]

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@llecs wrote:

I don't think it's as big of a deal they make it out to be. I used my Amex all the time at Wally World, used it paying taxes, used it at spas, and used it paying for a ticket or two without issue. However, Amex hit me with an FR due to using it for legal fees, or so said the CSR.

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The story about the people who got their amex card closed for shopping at walmart had a LOT more information than people care to say. The people also had a mortgage with a subprime lender that (from what I read in the article about that) was doing very badly, and I think the mortgage firm ended up collapsing or being bought out or something. That was the main reason amex closed their card. 

[Duncanrr]

I break about half of those. The most obvious one is paying for bar tabs on cc's. Wonder what Chase would do to me if they knew I paid for my tab with a cc and drapped for their product while still in the bar?

[trumpet-205]

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@compassion101 wrote:

I didn't think the coding system was so sophisticated to know the difference between a charge for tire retread vs balancing your tires. I wonder if I am mistaken or the article is mistaken. Anyone know?

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You are mistaken. MCC (coding system for Visa and MasterCard) DOES distinguish between tire retreading and a tire store.

5532 for tire shop, and 7534 for tire retreading.

http://www.irs.gov/irb/2004-31_IRB/ar17.html

[Shogun]

I guess I'll make a mental note of not paying for porn or booze with a credit card.  The porn part?   No problem there...  But seriously,  drinks?

[Duncanrr]

I think the booze thing is a pattern one. If you never use card at bar then all of sudden start they may think something is up. That's why I start using them at bar early. Nothing to worry here. That's just how we roll in NOLA.

[creditnocash]

so using amex at a restaurant is okay but a bar no? 

ok its cool hit me with a fr for 60 dollars worth of drinks. 

[compassion101]

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@trumpet-205 wrote:

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@compassion101 wrote:

I didn't think the coding system was so sophisticated to know the difference between a charge for tire retread vs balancing your tires. I wonder if I am mistaken or the article is mistaken. Anyone know?

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You are mistaken. MCC (coding system for Visa and MasterCard) DOES distinguish between tire retreading and a tire store.

5532 for tire shop, and 7534 for tire retreading.

http://www.irs.gov/irb/2004-31_IRB/ar17.html

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Thanks, that's a great link!