@Anonymous wrote:I use ICCU at the moment. But they only offer a secured card and I really don't want that. I've read secured cards are kind of a dieing breed in the credit card world.
Where and why? Read up here and you'll understand my skepticism
@notmyrealname23 wrote:Well, Mint also stores your credentials for financial institutions (aka Intuit). Same with Personal Capital. Same with roboadvisors Betterment and Wealthfront when they're tracking net worth. I believe a lot of these companies are using Plaid. Lot of red flags there.
... I wouldn't blame people for not wanting to go this route at all for privacy concerns, but I pretty sure there are millions of people who've already jumped off this bridge.
True, this isn't a unique business model in general and I'm aware of how data is compromised with other services. However, just because it's becoming more commonplace and "everyone is doing it" doesn't make it a good decision.
I looked into both Mint and Personal Capital many years ago and even started setting up accounts before I realized the privacy I would be giving up. As an older consumer, I am concerned at how trustingly our younger adults are to giving Big Tech access to their private data. It also concerns me that often, there apparently isn't even a consideration given to the privacy compromises these new tech-savvy companies ask their consumers to make. Privacy policies aren't easy to read and even when you do (as I pointed out above), the language errs in favor of the company per their lawyers who wrote them.
I just believe people need to make an informed and careful decision before they agree to the terms such as these. There are other choices. Buyer beware.
@Anonymous wrote:
@Anonymous wrote:Hello! I recently just turned 18 and am new to the whole credit card world. I don't have a credit score yet which makes it really difficult to get any card. I was told by a friend about a new credit card company called Tomo ...
For a supposed 18 year old you have a curious amount of knowledge about credit card minutiae. So much so that this thread is beginning to look like a cleverly disguised promotion for a new card.
+1. Those were my thoughts exactly. But it was worth seeing what it was all about so we are better-informed to discuss on My Fico. Like it or not, I think we'll hear more about them. The article I linked from American Banker sounds like Tomo is marketing heavily on university campuses. But ... as we know, they make their money solely from interchange fees. 
