Think Credit Cards Don’t Mine Personal Information? Think Again
Credit cards make buying anything from groceries to electronics easy, whether it’s online or in-person. You might assume that what you purchased, for how much, and where is information known only to you and your bank or credit card lender. Unfortunately, your information gets shared much more widely than that. Who Gets Your Info? Obviously, your credit card provider gets information about your purchase. This could be a bank, or it could be a retailer such as Target or Amazon. When Washington Post tech writer Geoffrey A. Fowler bought a banana at Target with this Amazon credit card, he found that the information was also shared with marketers , Google, hedge funds, and possibly more. Mobile wallets and financial apps can capture and use your data. If you slide your card through a point-of-sale machine, such as a Square device, they also receive your information. What Are They Doing with Your Info? Why do they want all of this info? What are they doing with it?