Shop at Wal-Mart? American Express may lower your credit limit

[jeffrey]

A new policy being used by at least one major credit card company judges a shopper not necessarily by his credit purchases and payments alone, but also by the fiscal behavior of the fellow shoppers in the stores he visits.

And in some cases, the bad repayment history of the guy behind you in line at your local megastore could result in a reduction of your credit line, which, in turn, could lead to a reduction in your credit score -- all because of where you shopped...

'GMA' Gets Answers: Some Credit Card Companies Financially Profiling Customers - ABC News

[bjl584]

That's not right. If I pay my bill on full every month and am always responsible with my credit card, then it shouldn't matter where I use it at.

[rob62521]

I guess the credit card companies can call the shots if they want. There was a news story recently stating that the companies may allow businesses to charge the fees that they pay for the customer to use credit cards. I can tell you that will mean I will probably use them even less if I get a surcharge.

[disneysteve]

That report is actually from 2009 and was a huge uproar at the time.

It really makes no sense, especially in light of the recession. Many people have become more frugal in their shopping habits. Walmart has steadily been gaining ground in the grocery department (there was another thread about this). Walmart is no longer frequented just by the poor. Plenty of people with 6-figure incomes shop there regularly. We do.

I think they backed off on those policies after the report aired.