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More on Credit Scores: Be Careful Where You Shop

Nancy Trejos

My blog post this morning offered tips on how to raise your credit score at a time when card companies are cutting limits and raising the bar for new customers.

I just came across a related story on CreditCards.com. The author writes about how credit card issuers are increasingly studying people’s purchasing patterns for signs of risk. For instance, if you use your credit card at merchants specializing in secondhand items or marriage counseling, your card company could assume you are experiencing financial distress and increase your rate or reduce your limit. That would then lower your score.

Other purchases might be considered signs that you are financially stable and raise your credit score, the author writes.

The article includes a really cool interactive graphic that helps you figure out how certain purchases would affect your score. Click here to check it out.

By Nancy Trejos  |  June 12, 2009; 12:07 PM ET
Categories:  Credit Cards , Nancy Trejos  
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Next: A Visual History of the Credit Card

Comments

Wow. So because I've shopped at Goodwill for over 20 years, they could see me as a problem? Never mind that shopping at Goodwill is something I have always done, its fun, its cheap, it quells the shopping bug withour busting the bank, etc.

Posted by: rubytuesday | June 15, 2009 1:24 PM | Report abuse

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