Credit Card Lenders Get Personal
Wednesday, December 17th, 2008This month, five UK credit card issuers will begin sharing ‘behavioural data’ on their customers’ accounts. The idea is that it will help credit card companies identify and help anyone who is experiencing financial difficulties.
Barclaycard, Capital One, GE Money, HBOS and MBNA are initially taking part in the scheme, with other issuers expected to follow at a later date.
What credit card firms will know
Sharing data about how you manage your credit accounts is, of course, nothing new. Credit card issuers already share data about your current balance, credit limit and whether your payments are up to date.
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