Think about how you use your credit card for purchases. Some major credit card companies, including American Express, are looking at where shoppers are using their cards and basing business decisions based on those purchases. Some cardholders are seeing credit lines slashed or even cancelled.
American Express won’t reveal which companies or types of merchants they take into consideration for these decisions, but in a lawsuit filed by the Federal Trade Commission against a subprime lender, the financial institution penalized cardholders for shopping at eight different types of merchants, including bars, massage parlors, billiard halls, nightclubs and marriage counselors.
Source: Money magazine
About Me
- Scott Helm
- Richmond, VA, United States
- I'm an Army brat and proud of it. My brothers and I were raised in khaki diapers and learned how to snap to attention and salute at a young age. (At ease!) My mother was a long-time volunteer with the Red Cross and American Cancer Society and instilled a sense of altruism in us. This forum is one of my methods to pay it forward. It's all about good karma.
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