I just found this in today’s NY Times. This should certainly make the paranoid in us a little happier, saying “see, I told you they were watching….”
In recent months, American Expresshas gone far beyond simply checking your credit score and making sure you pay on time. The company has been looking at home prices in your area, the type of mortgagelender you’re using and whether small-business card customers work in an industry under siege. It has also been looking at how you spend your money, searching for patterns or similarities to other customers who have trouble paying their bills.
In some instances, if it didn’t like what it was seeing, the company has cut customer credit lines.
There’s a lot more to the story, so please read more at NYTimes.com.
What does this mean for those of us interested in creating the best picture possible on our credit reports? Maybe you should keep a “clean” card for your purchases at the grocery store and Macy’s, and a “dirty” card for your splurges at the pawn shops and dollar stores. Some companies like Amex may shy away from the latter form of purchase, but other companies may not pay attention or care.
