Big Brother is Watching

Discussion in 'Credit Talk' started by Donna, Apr 2, 2000.

  1. Donna

    Donna Well-Known Member

    The article states that credit card companies have been penalizing customers who show sign of payment trouble anywhere on their credit report. Example if you have an Card 1, Card 2, and Card 3, and you paid Card 3late, that gives Card 1 and Card 2 justification to raise your interest rates. Their reason and logic behind this is that if you paid Card 3 late, then you're probably about to pay Cards 1&2 late. They call this minimizing their risk.

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