First it was fico scores. Now this!

Tweet

I saw on the news that credit card companies are looking at our spending habits. How we spend our money can determine our credit limit on a credit card. Too large a bar tab? That’s a no no. Normally shop at Saks. Shop at Walmart 3 times and it sounds like financial trouble to your credit card company so they may cut your credit line. It doesn’t even matter if you pay your bills on time any more. You can have great fico scores and pay your bills on time every month. But if you start shopping at low end stores or you shop at stores where "other of this credit card’s customers have bad credit" (you may have to reread this bit of info), the credit card companies are saying they will lower your credit. The specific example given was American Express. What next? This was on CNN today, 9/28/09. I think it should be illegal.How do you feel about that?