Did You Know WHERE You Shop Can Affect Your Credit!!!!

This doesn't make sense to me. I shop at walmart every week, so I guess I am a bad credit risk too! Funny thing about that~ my credit is excellent:)

I do not have an American Express credit card, have only Mastercard and Visa, and so far my credit rating has been steady and it seems to be based on my annual income. And that means I cannot get what I want unless I use my debit card after putting the money in my checking account. But I wonder whether this will happen with other credit card companies. I do not like Walmart that much, but I shop at other stores, and hate to think that if I shop at a high end store, my credit will be good, but if a regular family based store it will be bad. And I pay my bills off at the end of each month, in fact I pay them ahead of time. This American Express - Walmart sounds like discrimination to me.

Wow!! This is unreal. Just because someone chooses to shop at WalMart? In today's hard pressed economy where do they want us to shop then? Sure they are the ones offering us a Credit Card, but at the same time do they think we can shop all the high end places as well? In reality I guess for American Express this does make sense, but in the end it will be their loss for sure.

WOW! Isn't that considered descrimination under the American constitution? I'm Canadian, and we have Wal Mart up here. We have healthy incomes. My mother, who has a fine income, shops there because it's cheap! I personally won't set foot in a Wal Mart store, but that's my own business. I can't believe they can get away with that.

Of course it is but I always took it that American Express was for big business also to be paid up with in the month. But to me shopping at a sort of discount place would be could for business and really dont know why hat should lower his credit rating. Hm is this why most people cant get a cridet card fo rthe all shop at walmart lololoool

thats dumb! what about people that live in more rural areas where the only place TO shop is Walmart?

I had no idea about that. Why would they discriminate against someone who shops at walmart? That definately does not seem fair. I shop at walmart all the time and I did not realize that it could lower my credit score. I guess I am glad that I always pay cash when I shop at walmart.

My friend, appreciate you explaining this. It makes me sick. I will never use that company because they have done this. They can have their nasty business ways and take their cards and use them to light rubbish piles for all I care. I will not support any company who treats people like this, and I will go to Walmarts whenever I darn well feel like.....Dont you agree?

Thank you for the best response!

I've owned and used credit cards for more than 20 years now, and this is certainly news to me! I may not be in the US, but if what you say is true, then that should apply for anyone anywhere in the world. Sure, companies do profiling of their customers to determine the credit worthiness of their customers. I have usually thought that the credit limit given is based on factors like the person's earning power, debt history with respect to that card or the bank the card is issued from, spending amounts, rollover amounts, payment records of past card spending, etc. rather than where the person shops or what he/she buys. My past records with various cards show that wherever I shop, my credit limits are usually pretty constant and even go up over time as I usually keep a good clean record with my credit card company and I don't give them any problems with regards to payment.

Um.... this makes no sense to me! There are plenty of people who are comfortable or even wealthy and they are tightwads and misers and wouldn't spend more than the bare minimum they could get away with lol. I'm not surprised right now though, this economy crunch has been screwing with a lot of peoples' credit ratings and there doesn't seem to be any valid reason for it. If your limits are lowered (because the banks don't have the money to cover it), then your balances eat up more of the available which probably makes you LOOK like you're carrying larger balances comparatively. I think this can lower your credit rating even if you haven't done anything wrong.

I haven't had a credit card in 26 years so I could care less. However, I heard you can lower your interest rate by calling the 800 # on the back of the card. Just ask them for the lowest rate.

That's bull! With the economy the way it is, I shop wherever I can get a good deal. If the country was in a better situation I may not care how much money I had to spend on things, but that's not how it is! Even people with perfect credit history worry about the money they spend. This is ridiculous!

I guess there is a mistake...Nonsense

That IS shocking and definitely discriminatory in my opinion. Why should they care where someone spends the money they charge? I mean, I'd think being thrifty and looking for a bargain would make someone a GOOD credit risk! I guess the credit card companies will do anything they can to screw the customers! That seems like it should almost be illegal, doesn't it? Although I suppose they can extend credit and however much to whomever they please. Annie

I read that this morning. Amex can give a card to who they like of course. But I do wonder what happens if the store subsequently goes bust whether they will penalise the shopper for that too. Surely if Amex have a problem with a store they should simply remove their license to accept the card. Except of course that way AMEX will lose money. Very weird thinking by them although I don't think that it is legally discrimination, just stupidity. Maybe if they did away with credit altogether; then we might start to get back on top of our economies again.

I agree that is horrible. If you pay your bills off on time and live within your means, as well as use credit responsibly, where you shop should have NOTHING to do with credit score or any kind of credit analysis!

Well the link brought me to a new clip on the new commercial styles for the new year. It was probably in the play list, but didn't watch it. Anyway, yes, where you shop does effect your credit. I know this and I do agree with this because a person who shops at finger hut over Ethan Allen there is a lot to be said about income. Not saying it's right, but in the eyes of a creditor that's what they're going to see. Is this right? Shouldn't they take payment history into account. Common sense would say yes, but that isnt' the case. They'd much rather have a person purchasing from the pricer stores then your rent to own stores. I guess I see it from a financial perspective and corporate world. It's night right. We shouldn't be judged on our purchases. Hell, if we were paid decent we would be able to shop at the stores these creditors see as a good investment

That doesn't make sense they shouldn't worry about where the person shops; what they should be worried about is the person is going to pay their bill? or does the person even us the card at all? That doesn't make any sense to lower someone's credit because they shop at a certain place I believe it's discrimination to.