Comments | the_recession: Use Your CC at Wal-Mart, Lower Your Score?

cieldumort in the_recession

Use Your CC at Wal-Mart, Lower Your Score?

Feb 02, 2009 23:50

Mother Jones:Today's Two Minutes HateHere's the latest reason to hate credit card companies: Shop at Wal-Mart, obviously a sign of financial distress, and your credit limit gets lowered. Hallelujah ( Read more... )

credit cards, american express, wal-mart

Comments 18

scorpionis February 3 2009, 13:43:04 UTC

Now AMEX is denying that they ever did that and that all those people who got letters just misunderstood what they were saying. Riiiiiight.

cieldumort February 3 2009, 19:56:55 UTC

Woopsie!

theheretic February 3 2009, 14:09:47 UTC

What you wanna bet the other card companies aren't doing exactly the same thing, only they're not telling you?

cieldumort February 3 2009, 19:58:16 UTC

I'll pass on that bet

daily_rant February 3 2009, 14:32:01 UTC

Oh seriously. And if you use it at the Good Will then what?

cieldumort February 3 2009, 19:58:44 UTC

ikr?

sunfell February 3 2009, 15:01:05 UTC

Why use plastic anyway? I'm weaning myself off it- and paying cash. Starve out the credit card industry- quit using them!

cieldumort February 3 2009, 19:59:19 UTC

It's so damn convenient. But, you're right.

interactiveleaf February 6 2009, 17:13:43 UTC

I use my Visa debit/credit card because it's free. For me, it's like cash, and I have never (until now) had reason to worry about who knows where I shop or what I buy.

But there is no reason to believe that my Visa debit card won't affect the credit limit on my Visa credit card.

To me, my credit limit doesn't matter in a practical sense, since we don't carry a balance and only use credit cards for unexpected stuff like car repairs that's easier to pay off in two or three months instead of one, but GEEZE LOUISE!, that's a dick maneuver that they're pulling.

Also, does it affect my credit score if my credit limit is slashed, other than the "percentage of balance carried"?

venuspluto February 3 2009, 17:08:52 UTC

Just one more good reason not to shop at Evil-Mart, I guess!

sophiaserpentia February 3 2009, 17:30:23 UTC

Mleh, much as i hate to weigh evil against evil, Wal-Mart at least chooses to do the right thing once in a while. Credit Card companies will never ever choose the right thing.

cieldumort February 3 2009, 20:01:22 UTC

I agree. They are taking some responsible measures that other retailers haven't, or wouldn't.

Still, I shop there sparingly, preferring to give more local, smaller retailers my business whenever feasible.