Credit card companies rate you based on what you buy and where

By Tracy R Twyman

I heard someone talking about this the other day and had to check it out for myself. And it’s true. From creditcards.com:

What you buy and where you shop may affect your credit score.

As credit card companies continue to tighten their lending standards on card users, some are using purchasing data — gleaned from millions of card transactions processed daily — to weed out who may or may not be good credit risks.

Our interactive guide lets you drop items into a shopping cart and see whether they may raise or lower your score. More

Have you used your credit card at merchants specializing in secondhand clothing, retread tires, bail bond services, massages, casino gambling or betting? Your credit card issuer may be taking note — and making decisions about your creditworthiness based on your purchasing behavior. The reason: Buying used clothing or retread tires may be an indication of financial distress and a preamble to missed credit card payments or defaults.

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