Here an interesting article by the American Public Media, which is a nonprofit organization, and is the second largest producer and distributor of public radio programming and the largest owner and operator of public radio stations in the nation. But yeah, I'm just a stupid spammer who spams this forum with "conspiracy theory" posts...
10 purchases not to put on credit cards
TOP 10 PURCHASES THAT SHOULD NOT BE CHARGED ON CREDIT CARDS
1. Traffic tickets: You look reckless. And tickets can push up your insurance rates, which could put a strain on your finances, which could make it harder for you to pay your bills. A lot of people who have charged traffic tickets have defaulted on their cards.
2. Retreading your tires: You'd be surprised how many people do this. Why? Usually, because they can't afford new tires. If you've bought new tires in the past, this can look like a desperate move. Credit card companies don't like desperation.
3. Bargain binges: If you haven't used your credit card at a 99-cent store or at Wal-Mart, don't start now! Downshifting to lower-cost retailers -- or shopping at places that attract financially pinched shoppers -- makes it look like you're worried about your finances or about your job. American Express has been accused of cutting people's credit because they shopped at Wal-Mart.
4. Adult Playthings: No one's judging you -- just your purchases. Porn is seen as escapism by card companies. And guess what they're thinking you're trying to escape from? Financial worries. Ditto for strip clubs. Use cash. Swipe your card, get your credit cut.
5. Marriage Counseling and Therapy: Money is at the root of many psychological problems. And plenty of relationship problems, too. Relationship problems can lead to divorce. Divorce can destroy your finances. Needing therapy may also make it look like you're unstable.
6. Lottery Tickets: Yes, hope springs eternal, but lottery tickets don't count as a sound financial plan, and you don't want your card company to think you're irresponsible -- or a gambler. Oh yeah, don't take your Visa to Vegas.
7. Cash Advances: Credit-card companies used to love these products because they brought in loads in interest charges. But tapping your card for cash? Or using a credit-card check to pay other bills? Not a good look.
8. Personal pampering: If you don't normally splurge at the spa, don't put your facial or massage on your plastic. It may look like you're trying to relax because you're worried about -- what else -- money. Or, that you're trying to reduce stress from a job loss, or pretty up for a job search.
9. Income Taxes: Whenever you rack up one bill (by using your credit card) to pay another bill (your taxes) it raises a red flag. Could be your debts and bills are overwhelming you.
10. Booze: Carry cash to the bar, especially if you were there last night, too. Springing for too many drinks may be a sign of job stress, financial stress, or relationship stress. And charging booze several times in a row will make it seem like your bar binge was not a fluke.
And then this one is by WESH TV, a TV station in Florida, but yeah, it's just a conspiracy site too...I like the old saying, " Listen to everyone... read everything... believe NOTHING unless you can absolutely prove it...You will be amazed at the result." So instead of name calling, let's read the article, and decide for yourself if some credit card companies would "conspire" or act in harmony toward a common end? Nahhh, not in AmeriKa!
Thrift Store Purchases Could Hurt Cardholders
Some Credit Card Companies Track Purchases At Thrift Stores
What a person buys and where they buy it could have a devastating effect on a credit score, a WESH 2 News investigation revealed.
The investigation found credit companies may be looking at where a cardholder is shopping and determine an interest rate from there.
It's not just any day at the Salvation Army thrift store. It's Wacky Wednesday, which means all clothing and furniture is half price.
Something else that is wacky is that every time a customer pays in a thrift store or consignment shop or other discount store with a credit card, the credit card company may know about it, and some will use the information to punish the cardholder.
A government probe revealed some credit card companies have been tracking purchases in bargain stores to determine if customers may be in financial trouble and pose a credit risk.
That means shoppers like Kelly Mawhinney, who likes to pick up used clothing for her family, could have her credit limit capped, interest rate raised or suffer a bad credit score.
"I think that's ridiculous. I mean we're all just being conservative about our spending, and I'm being conservative in the sense that I like to buy used things and reused things instead of buying brand new," Mawhinney said.
A great deal on jeans didn't sit well with Alisha Sumner when she learned her credit card purchase could hurt her credit score.
"I should be able to buy whatever I want whenever I want, and nobody should track that. Nobody should track that but my husband and I," Sumner said.
"The demand is up, but the donations are down," Salvation Army Maj. Jim Smith said.
The Salvation Army said card issuers have no business preying on their customers.
"It's discriminatory to me ... These people are going to be suffering on both ends. Their dollar isn't going to be worth as much," Smith said.
"No. I don't think that's right," Rep. Suzanne Kosmas, D-Fla., said.
Kosmas said a new credit card law signed by President Barack Obama in May will help crack down on banks.
"Some of their practices were inappropriate, and now we've made them illegal," Kosmas said.
In the short term, consumer credit counselors said cardholders should ease up on credit purchases.
"Cash certainly is one way to get around having the eye of the creditor looking over your shoulder all the time," Consumer Credit Counseling Service spokesman Richard Schram said.
Mawhinney said she'll try to use case for bargain shopping to keep the bank off her back.
"I think they're penalizing the people who are working class, and that's not really fair," Mawhinney said.
10 purchases not to put on credit cards
TOP 10 PURCHASES THAT SHOULD NOT BE CHARGED ON CREDIT CARDS
1. Traffic tickets: You look reckless. And tickets can push up your insurance rates, which could put a strain on your finances, which could make it harder for you to pay your bills. A lot of people who have charged traffic tickets have defaulted on their cards.
2. Retreading your tires: You'd be surprised how many people do this. Why? Usually, because they can't afford new tires. If you've bought new tires in the past, this can look like a desperate move. Credit card companies don't like desperation.
3. Bargain binges: If you haven't used your credit card at a 99-cent store or at Wal-Mart, don't start now! Downshifting to lower-cost retailers -- or shopping at places that attract financially pinched shoppers -- makes it look like you're worried about your finances or about your job. American Express has been accused of cutting people's credit because they shopped at Wal-Mart.
4. Adult Playthings: No one's judging you -- just your purchases. Porn is seen as escapism by card companies. And guess what they're thinking you're trying to escape from? Financial worries. Ditto for strip clubs. Use cash. Swipe your card, get your credit cut.
5. Marriage Counseling and Therapy: Money is at the root of many psychological problems. And plenty of relationship problems, too. Relationship problems can lead to divorce. Divorce can destroy your finances. Needing therapy may also make it look like you're unstable.
6. Lottery Tickets: Yes, hope springs eternal, but lottery tickets don't count as a sound financial plan, and you don't want your card company to think you're irresponsible -- or a gambler. Oh yeah, don't take your Visa to Vegas.
7. Cash Advances: Credit-card companies used to love these products because they brought in loads in interest charges. But tapping your card for cash? Or using a credit-card check to pay other bills? Not a good look.
8. Personal pampering: If you don't normally splurge at the spa, don't put your facial or massage on your plastic. It may look like you're trying to relax because you're worried about -- what else -- money. Or, that you're trying to reduce stress from a job loss, or pretty up for a job search.
9. Income Taxes: Whenever you rack up one bill (by using your credit card) to pay another bill (your taxes) it raises a red flag. Could be your debts and bills are overwhelming you.
10. Booze: Carry cash to the bar, especially if you were there last night, too. Springing for too many drinks may be a sign of job stress, financial stress, or relationship stress. And charging booze several times in a row will make it seem like your bar binge was not a fluke.
And then this one is by WESH TV, a TV station in Florida, but yeah, it's just a conspiracy site too...I like the old saying, " Listen to everyone... read everything... believe NOTHING unless you can absolutely prove it...You will be amazed at the result." So instead of name calling, let's read the article, and decide for yourself if some credit card companies would "conspire" or act in harmony toward a common end? Nahhh, not in AmeriKa!
Thrift Store Purchases Could Hurt Cardholders
Some Credit Card Companies Track Purchases At Thrift Stores
What a person buys and where they buy it could have a devastating effect on a credit score, a WESH 2 News investigation revealed.
The investigation found credit companies may be looking at where a cardholder is shopping and determine an interest rate from there.
It's not just any day at the Salvation Army thrift store. It's Wacky Wednesday, which means all clothing and furniture is half price.
Something else that is wacky is that every time a customer pays in a thrift store or consignment shop or other discount store with a credit card, the credit card company may know about it, and some will use the information to punish the cardholder.
A government probe revealed some credit card companies have been tracking purchases in bargain stores to determine if customers may be in financial trouble and pose a credit risk.
That means shoppers like Kelly Mawhinney, who likes to pick up used clothing for her family, could have her credit limit capped, interest rate raised or suffer a bad credit score.
"I think that's ridiculous. I mean we're all just being conservative about our spending, and I'm being conservative in the sense that I like to buy used things and reused things instead of buying brand new," Mawhinney said.
A great deal on jeans didn't sit well with Alisha Sumner when she learned her credit card purchase could hurt her credit score.
"I should be able to buy whatever I want whenever I want, and nobody should track that. Nobody should track that but my husband and I," Sumner said.
"The demand is up, but the donations are down," Salvation Army Maj. Jim Smith said.
The Salvation Army said card issuers have no business preying on their customers.
"It's discriminatory to me ... These people are going to be suffering on both ends. Their dollar isn't going to be worth as much," Smith said.
"No. I don't think that's right," Rep. Suzanne Kosmas, D-Fla., said.
Kosmas said a new credit card law signed by President Barack Obama in May will help crack down on banks.
"Some of their practices were inappropriate, and now we've made them illegal," Kosmas said.
In the short term, consumer credit counselors said cardholders should ease up on credit purchases.
"Cash certainly is one way to get around having the eye of the creditor looking over your shoulder all the time," Consumer Credit Counseling Service spokesman Richard Schram said.
Mawhinney said she'll try to use case for bargain shopping to keep the bank off her back.
"I think they're penalizing the people who are working class, and that's not really fair," Mawhinney said.
.
Comment