I found a great article about credit card companies and what they know about you. The most interesting part (for me) was the mention of analysis Canadian Tire did on their credit card holders to come up with spending and payment trends based on what they bought."....data indicated, for instance, that people who bought cheap, generic automotive oil were much more likely to miss a credit-card payment than someone who got the expensive, name-brand stuff. People who bought carbon-monoxide monitors for their homes or those little felt pads that stop chair legs from scratching the floor almost never missed payments. Anyone who purchased a chrome-skull car accessory or a “Mega Thruster Exhaust System” was pretty likely to miss paying his bill eventually."
Speaking of credit, if what's being reported here comes to pass, American credit card holders will have to pay higher rates and fees even if they always pay on time. In fact, the no-interest-if-you-pay-by-end-month rule is predicted to disappear as well.
No comments:
Post a Comment