For banks, data on your spending habits could be a gold mine


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Wouldn't it be nice if the banks asked each customer whether they would like to opt in for these services. Maybe if they offered a financial inducement, some people would accept to have their data analysed and traded.

What I use my cards for, should I think be between me and the bank.

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This article is 15 years too late. Banks have been doing this over a decade and it was covered all the way back then as well. How do you think AMEX comes up with those well timed offers?

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Datas will be important to anybody but this is against the law of privacy. Those collecting this data can be sued.

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Banks ?

Come off it... you really mean the Credit Card Companies, and Store Cards - these are the the ones with the actual breakdowns of what you're spending your money on... particularly the Store Card Companies - they do use the data to target you with promotions... Credit Card Companies, less so.

0 ( +0 / -0 )

Well my opinion is based on mainly Credit Card usage over Debit Card usage - the former being somewhat more popular than the latter here in Japan.

0 ( +0 / -0 )

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