Your Lifestyle May Hurt Your Credit!
Business Week/June 30, 2008
Imagine a world where its not just how you make your payments but WHAT you buy, that will affect your score and a Lenders willingingness to lend!
The FTC (Federal Trade Commision) is suing CompuCredit (a credit card issuer) for "deceptive marketing" practices. The allegations are that CompuCredit is monitoring your purchase habits like: bars, marraige counselors, massage parlors...but they don't disclose that these "things" you frequent or purchase could affect your ability to borrow in the future. The main dispute is that we are not getting told that this might be going on!
Yea! The FTC is finally getting off their butts and being pro-active!
I can't imagine this will really hurt us in the future.....! But what's really scary to me, is that there's so much "data" on us out there and we really don't have any idea what its being used for!
John
PS. Take steps to protect "your data" at all times. Never give out personal information to an individual or company that you did not solicit!
Comments
Aaron
Scott A Bell
Glad to hear the FTC is finally clamping down. People are so oblivious to the amount of information they give out -- something as simple as their real birthday when they sign up for a blog for instance could be gleaned by unscrupulous people. Or, they readily give out personal information on dating sites, retail questionnaires, phone solicitations...
In these days of computerization, amazing amounts of information can be put together very easily. I always ask to call back on unsolicited calls -- of course, they have a lame excuse why I cannot do that, but that's not my issue since I did not initiate the call. If I can't take time, do my research, call back when it suits me, I am very suspicious. I realize a lot of companies are very departmentalized (to the point of stupidity) but there needs to be a way for the consumer to double-check what's going on.
Sue Crutcher, Baby Steps to Success Expert
A LOT of companies have this information about us.
And remember, when you are FREQUENTING that massage parlor, PAY CASH!
Hmmm. Soliciting? I'll refrain from touching that one! lol!
All the best,
April Braswell
Internet Romance Coach
To easy today to find out so much about us.
Great post we need to keep our guards up especially the more we get out into cyberspace
Focus Your Energy
Matthew Shields
so the answer is to pay cash everywhere????? but what would that do to those of us who are trying to start Internet businesses???
Sonya Lenzo
The Business Insurance Expert
www.sonyamlenzo.com
I cringe every time I have to give personal information to get something. Even just have a discount card for CVS or the grocery store freaks me out. You know they are recording everything you buy. When they first started this, I remember reading a story about how a women lost a custody battle with her husband based on the groceries she bought. The lawyer got a hold of the report of everything she bought at the grocery store and they proved she was an unfit mother. I honestly think about that still, just for a split second, every time I buy ice cream or cookies or any kind of junk at the grocery store.
Lisa McLellan
Local Babysitters at Babysittingworld.com
Lisa, you can ship the Icecream and cookies to me! I'll protect your kids!
John
David Power
Expert in Hypnosis, Success Thinking and Practical Parenting
I read something about this last week. Crazy stuff. Good thing I pay for my drugs with cash!! Har har har. I crack myself up!
Sabrina Peterson
Personal Trainer and Weight Loss Coach
And Lisa, I think that story was over hyped by the media to feed the paranoia. Rather than focusing on "how do I want to raise my children? I'm at choice." Plus I'm a big advocate of turn off the TV, go read, go run, go play - both for adults AND kids. Go outside and look at nature. take a hike. Fill your mind with some wonderment.
Kinda like my joke line for singles who are sort of defensively single, "Turn off the porn and go start making some of your own!" I don't mean go start a new XXX business. I mean, go build your romantic communication and sensual communication (sex) skill set.
Ooooo. wait, you can leave the TV on for a little while. It's Sat morning and ESPN is televising the replay of Euro 2008. oooooo. SPORTS!
All the best,
April Braswell
Internet Dating Romance Coach
Privacy is dead.
Steve Chambers
Tim