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Shop at Walmart, get your credit score lowered

by: wuwm

Tue Feb 03, 2009 at 10:59:27 AM EST


Have you just started shopping regularly at Walmart? This may be a sign that you haven't been doing so well financially. At least that's what some credit card companies think, because reportedly your credit card score can be lowered if you shop at the retail giant:
wuwm :: Shop at Walmart, get your credit score lowered
Shop at Wal-Mart, obviously a sign of financial distress, and your credit limit gets lowered. Hallelujah!

This is from American Express, which has now decided to hunker down and simply lie about their habit of doing this. Compare and contrast the following news accounts. When Kevin Johnson returned from his honeymoon last year he got a letter from Amex saying, "Other customers who have used their card at establishments where you recently shopped have a poor repayment history with American Express."

So not only is Walmart driving our jobs and suppliers overseas, but its cheap goods is now relegating its customers into the status of poverty-stricken

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I don't shop there (0.00 / 0)
Not if they won't let me buy People.

To return to the topic, "behavioral" factors have affected credit for many years. For example, if you take a cash advance on your credit card while you are in a casino, that hurts your credit. So don't do that.

To apply this to Wal-Mart shoppers, though, strikes me as overly wide. I suspect it's part of a larger profile: if A, B, C, and D (D being "shop at Wal-Mart"), you get dinged. Otherwise the data would be pretty useless.



A little more detailed discussion (0.00 / 0)
of this is on the NYT site. Worth a read if you're feeling nervous.

Republicans believe government is bad - then they get into office and prove it.


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