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finalforcredit - How Much Do Credit Card Companies Know...

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How Much Do Credit Card Companies Know About You? September 21, 2010
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How Do Credit Cards use Customer Data? Credit card companies use information systems to collect, process, store, and distribute data from credit card purchases to support decision making
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INPUT RECORD OF SALE IS LOGGED INTO A MASSIVE DATABASE
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PROCESSING SALE IS ASSIGNED A FOUR DIGIT CATEGORY CODE THAT DESCRIBES THE TYPE OF PURCHASE
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OUTPUT Data is available for managers TO MAKE DECISIONS: Target future promotions for products more accurately Guard against credit card fraud by identifying purchases compared to purchase history Flag users who go over limit or demonstrate erratic spending (this data is used by law enforcement to track criminals)
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credit card company business practices In the past credit card holder’s who did not pay their balances in full had to pay monthly interest charges and other fees. This was a major source of profit for credit card issuers . Now, the world’s financial crisis has resulted in many credit card holders defaulting on their payments and filing for bankruptcy.
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PROBLEM faced by credit card companies What was once a major source of profit is now a major liability for credit card issuers
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This note was uploaded on 08/09/2011 for the course MIS 101 taught by Professor Pinjanir,awadzi during the Spring '11 term at Delaware State.

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finalforcredit - How Much Do Credit Card Companies Know...

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