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Guilty by association :biggrin:http://www.ajc.com/news/content/business/stories//2008/12/21/creditcards_1221.html?cxntlid=homepage_tab_newstab“We’re just doing this to manage risk,” said Lisa A. Gonzalez, an American Express spokeswoman. She declined to say which retailers or mortgage companies are associated with consumers with higher default rates. She said it makes sense to examine these factors because “customers who have loans outstanding with certain lenders or customers who make transactions with certain merchants tend to have a higher proportion of credit issues or a higher probability of default.”Now you have to watch where you shop, because if you shop where deadbeats shop or live where deadbeats live, we’re going to use that as a reason to lower your limits or increase your rates,” Mierzwinski said. He also questions whether the models are valid. “I just am not convinced that it’s a legitimate use of data mining,” he said.
Guilty by association :biggrin:
http://www.ajc.com/news/content/business/stories//2008/12/21/creditcards_1221.html?cxntlid=homepage_tab_newstab
“We’re just doing this to manage risk,” said Lisa A. Gonzalez, an American Express spokeswoman. She declined to say which retailers or mortgage companies are associated with consumers with higher default rates. She said it makes sense to examine these factors because “customers who have loans outstanding with certain lenders or customers who make transactions with certain merchants tend to have a higher proportion of credit issues or a higher probability of default.”
Now you have to watch where you shop, because if you shop where deadbeats shop or live where deadbeats live, we’re going to use that as a reason to lower your limits or increase your rates,” Mierzwinski said. He also questions whether the models are valid. “I just am not convinced that it’s a legitimate use of data mining,” he said.
