How much does your credit card issuer know about you?

guest · Feb 7, 2019

How much does your credit card issuer know about you?
February 7, 2019
https://www.pandasecurity.com/mediacenter/security/credit-card-issuer-know-about-you/

Cash is slowly but steadily becoming one of the least popular payment methods in the developed countries. Here in the US, the amount of consumer purchases done with plastic cards is approximately ten times higher when compared to cash payments

Credit card issuers are in possession of all sorts of personal information that includes current and previous addresses, income, full name, and DOB. There is no harm there; it’s normal for businesses to ask for personal information so they can verify your identity and determine your trustworthiness.

[...] consumers are giving up vast amounts of personal information that might be used by the credit card companies and may end up shared with third parties. Such information includes your spending habits, shopping patterns, preferences, life secrets, and in some cases, even your location.
Spending habits and patterns
Credit card issuers can learn a lot about you from your spending habits and patterns. If you end up spending a lot of money on international trips they might use the information to suggest travel cards with no foreign transaction fees.
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reasonablePrivacy · Feb 7, 2019

I don't have any credit or debit card. Unfortunately I sometimes use services of online payment system providers. At least they don't know my exact geographical location.

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How much does your credit card issuer know about you?

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