The Conical Glass: Big Visa is watching you

Sunday, August 02, 2009

Big Visa is watching you

Oh, the sad, neglected blog! As some of my pals know, I am in the middle of a 2-week-long job which is taking up most of my time (it ends on Friday). During the past week, I have managed to get out to a mystery salon with author Stanley Trollip (one half of the writing duo Michael Stanley, authors of the Detective Kubu novels); a Stephen Sondheim musical revue, "Putting It Together"; a couple of dinners out with friends; and a movie that I swear isn't as dirty as it sounds. So far, the only crises have occurred on Saturday around 4 PM and Sunday morning around 11 AM, and both times I was right there at the computer to troubleshoot. There's a little bit of luck and skill involved in creating the illusion that you are monitoring the situation 24/7.

A few days ago, I was looking for something on the Marketplace Radio web site when I noticed a link in their list of the most popular stories. As of this writing, it's still in the top five, even though it was originally published on July 8, so it's obviously captured the public imagination. The article is titled "10 purchases not to put on credit cards." "Certain types of purchases can be red flags to credit-card companies watching for signs of consumers with questionable finances. Here are 10 compiled with the help of Robert Manning, author of Credit Card Nation."

The verboten items include pornography and strip clubs, which could be "seen as escapism by card companies. And guess what they're thinking you're trying to escape from? Financial worries." Spas and massages are also no-nos: "It may look like you're trying to relax because you're worried about -- what else -- money. Or, that you're trying to reduce stress from a job loss, or pretty up for a job search." And keep your credit card in your wallet when you're going out for a cocktail; that bar tab "may be a sign of job stress, financial stress, or relationship stress." (Note to self: hit ATM before going to Forbidden Island.)

If the credit card companies notice that you're suddenly putting booze or porn on your plastic, or that you're retreading your tires ("You'd be surprised how many people do this. Why? Usually, because they can't afford new tires"), your credit limit could plummet, or your card could even wind up being canceled.

My credit card limit is pretty high, and I seldom use more than a fraction of it -- I could use my Visa to charge a reasonably priced new car, but the bank would probably assume I was buying a new auto because financial stress is causing me to have a midlife crisis, and poof, my card would disappear. In fact, now that I'm aware of this monitoring, I'm going to be extra careful before I say, "Charge it!" As a public service, here are eight more places where you should never pay with plastic:

Scott's Shoes: Why would I need new shoes? Obviously, I'm going to be pounding the pavement soon to look for a new job.

Christianbook.com: There's only one reason to stock up on new Bibles: because of all the praying you're going to be doing soon. "Dear God, please help me pay my bills on time this month." Also, be sure not to order titles like Financial Armageddon: What You Must Do to Survive the Devastation of an Economic Collapse, Surviving Financial Meltdown and Digging Out of the Money Pit: 30 Biblical Solutions to Your Financial Headaches.

Fastrak: Sure, it allows you to get across the bridges more quickly, but there's only one way to pay for it: with plastic! More trips to San Francisco obviously mean you're going on job interviews, because you're afraid the axe is going to fall on you at any moment in your current job.

Kohl's: Who buys clothing at the discount department store? People who can't afford anything better. "Shopping at places that attract financially pinched shoppers... makes it look like you're worried about your finances or about your job," writes Manning. "American Express has been accused of cutting people's credit because they shopped at Wal-Mart." Little did I know when I bought that cute Vera Wang top a couple weeks ago that I was putting my plastic at risk.

Nordstrom: This upscale retailer, on the other hand, is also verboten. A sudden spree could only mean one thing: you need new "interview suits." The hiring manager isn't going to be impressed by your unfashionably long jacket or your scuffed old loafers. (You could get them resoled, but use cash, or it'll be tire retreading syndrome all over again.)

The ice cream parlor: For some, it's the booze; for others, it's the butterfat. The super-premium stuff at Tucker's or Fenton's is so pricey that you'll be tempted to whip out your MasterCard, but don't do it -- your bank knows that "emotional eating" is a sign of financial stress.

The movie theater: If porn is seen as "escapism," then what is "Transformers 2"? Megan Fox is basically Sasha Grey with tattoos.

Chuck E. Cheese: Sure, you thought you were charging a birthday party for your child, but Visa knows better. That animatronic rat's deliciously cheesy pizza is comfort food for your poor youngster, who hasn't been able to sleep at night because "Daddy's job is going away."

posted by 125records @ 9:53 PM

2 Comments:

At 10:14 AM, spanghew said…

Well, I certainly hope credit card companies are a little smarter than this writer gives them credit for. (That's not the same thing as thinking I believe they are.) I think I've charged four or five of the items listed (traffic tickets - because it was way more convenient and quicker than writing a check or paying in person; what would appear to have been personal pampering (but it was a gift for Rose!); booze, if they don't differentiate between a bar that serves food and one that doesn't; and cash advances (although not for a long, long time). But otherwise, I use my credit card rarely, and pay in full every month. Of course, that means my line of credit hasn't risen for years...even though our income has.

I'm betting it'd still be true that amount would go up if I used the card more and didn't pay off immediately...because so long as I didn't miss a payment, I'd be making them more money in interest by not paying in full.
At 12:21 PM, 125records said…

Just for the record, we pay off our credit card every month. The banks are still making plenty of $$$ off us thanks to interchange fees. Since we occasionally charge a big-ticket item, like plane tickets to Sweden or Hawaii, I guess they keep hoping that if they give us more rope, we'll eventually hang ourselves.