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Posted: 5/30/2003 2:07:19 PM EDT
Saw some news last year about how several major banks have programs to collect profile information on their retail and other customers, to be used for marketing, catching money laudering, etc. Or maybe they feed it / sell it to the credit bureaus. But I have had never them trying to ask me for more information, and its been years since I applied for anything. I do get a zillion "pre-approved" applications for the teaser credit card rates, though. What's up with this information collecting? Also the grocery store started one of those "saver club" programs, though they swore they would never require and information from you. Then after a year or so they wanted every one to have a card that you are supposed to fill out with all your info. But they promise they will never give it out. Or that's what they're told to say. I will have to ask the friedly checker next time I'm there to buy that heavy duty aluminum foil. Or maybe I should get one of those turkey baking pans - they seem to offer more protection. Just wondering if they caught my latest purchase of two bricks of .22 ammo at Big 5 where they always key in my zip code off the check I wrote. [:|]
Link Posted: 5/30/2003 10:18:11 PM EDT
Just heard a bank describe this as "relationship - based banking"
Link Posted: 5/30/2003 10:28:13 PM EDT
Link Posted: 5/30/2003 11:22:11 PM EDT
When I got my store cards, there was a box that said that I do not want to give out my info. I checked it and the just gave me a card from the stack. Besides, if you read the agreement, there is probably a clasue in there that says they reserve the right to change the agreement at any time. Another store near me keeps a card at the register to wave over the scanner. As far as zip codes and phone numbers, I always give out fakes or say that I'd rather not give it out. It's too much trouble for the checker to go back to the start of the transaction and input the correct info. Also, I usually use my debit card or cash so there is nothing for them to copy info from like a check. Chris
Link Posted: 5/30/2003 11:31:48 PM EDT
Actually, the reason that you get all those preapproved credit cards is because the card company's actually get the information directly from the credit agencies. The reason I know this is because I'm getting a crap load of crap deleted and I "opted-out" of these so called "pre-screenings". If you want to opt out I am posting a paragraph from Transunion Credit Agencies' website. They also gave me this number over the phone. It's as follows: Opt-Out Contact Information TransUnion wants to help companies give American consumers the choices they want. This choice includes the right to say, "No, thank you" to their offers. If you want your name and address removed from mailing lists obtained from the main consumer credit reporting agencies — TransUnion, Experian, Equifax, and Innovis — call 888-5OPTOUT (888-567-8688), or write to the following address: TransUnion LLC's Name Removal Option P.O. Box 97328 Jackson, MS 39288-7328 Include the following information with your request: First, middle, and last names (including Jr., Sr., III) Current address Previous address (if you've moved in the last six months) Social Security number Date of birth Signature Good luck.. I hope this helps!
Link Posted: 5/30/2003 11:33:19 PM EDT
I work for a credit union...most of the know your customer stuff is for them to make money and prevent fraud. The problem is that you will probably not find a teller in America that gives a crap. Tellers are probably the hardest worked most underpaid people in the banking industry, and that is why so many people have complaints with them. The only time tellers "know thier customer" is when the persons account says "call police" or a regular customers name. The grocery store thing pisses me off too, i think it was last year every store but safeway just up and turned them into the FBI for sh!ts and giggles...
Link Posted: 5/30/2003 11:34:31 PM EDT
No need to give phone number. Zip code is pretty innocuous, used for marketing survey. Seeing as you probably get 90-95% from the zip the store is in. As far as your bank is concerned, you either trust them or not. If you don't trust them why are they still your bank?
Link Posted: 5/30/2003 11:58:47 PM EDT
Originally Posted By PaDanby: No need to give phone number.
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Try not to give out your phone #, because these people can't do reverse telephone number look-up on the internet, and get your home address, or where the phone number is located. When they ask for a phone #, I ALWAYS give them a phony one, unless I can think of a reason why they should.
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