Fed: Credit companies admit profiling credit card users

Discussion in 'Economics' started by Banjo, May 29, 2010.

  1. Banjo


  2. I shop 99 cents store. Put it on one credit card, while I have a 34k unused credit on another card with the same bank. I have been doing this for many years. They have not cut my credit line thus far.
  3. Hey Banjo,

    I hope your doing well. Stop in the chat sometime if you feel like it.

    I am not sure I understand your point of the credit-card COs. or the media story. It seems like good business practice to figure out who is most likely to pay and who is most likely to not pay their bills if your a credit issuing company. If a company has figured out those who start getting cash advances and start buying expensive stuff might be about to default why should they not be allowed and even encouraged to keep defaults at a minimum?

    If we didn't have Barney Frank and other brain surgeons encouraging everyone with the ability to fog a mirror regardless of their financial responsibility fannie and freddie would not be in the shit shape they are in (and getting worse) Imho.