Good to read about: "New Ways Bankers Are Spying on You" - Article by Karen Blumenthal

[Mira]

Financial Journalist Wall Street Journal/Business

New Ways Bankers Are Spying on You
 

 By KAREN BLUMENTHAL
 
 
 
Big Banker is watching you—more closely than ever.
 
With lenders still skittish about making new loans, credit bureaus and others are hawking services that help banks probe deeply into your financial closet. The new offerings include ways to look at your rent and utility payments, figure out your income, gauge your home's value and even rate your banking habits based on details like whether your direct deposits have stopped.
 
All of this could influence your financial freedom—not to mention the number of junk-mail solicitations you receive.
 
Ken Lin, CEO of Credit Karma, a credit-score information website, knew he had a good credit score. But when he recently applied for a new credit card, he was rejected: The lender had flagged him as a higher credit risk because the value of his California home had declined and his mortgage principal wasn't declining—giving away that he has an interest-only mortgage.
 
"It's a lot more than just your credit score today," he says.
Mark Matcho
 
Your credit record still matters, of course. But here are some newer ways lenders and financial-services companies are sizing up your financial behavior and credit-worthiness:
 

go here for the article:

http://online.wsj.com/article/SB10001424052748704865104575588803958385376.html?KEYWORDS=KAREN+BLUMENTHAL

[HillbillyBob]

1. It looks like we will have to go back to doing without credit or not as much

It sux to be broke..but it also sux worse to be in debt.
We have more debt than we want and want to retire that soonest so we can do other things. We are not thank goddess in like a lot of folks are though. It does ease or rather is not a load to worry about.

It is really hard on a business to operate with out credit and I guess certain lifestyles.

[Ilsa]

2. It also bothers me that there are places that will not do business

if you pay in cash. I passed an apartment complex that refuses rent payment in cash. It seems like more businesses want to be able to track and spy on us.

[CoffeeCat]

3. They wouldn't take a check or cash?

That's astonishing. Isn't it illegal for someone to
not accept cash as a form of payment? I thought there
was some rule/law governing that. It is legal tender.

That is crazy.

It's interesting to hear these stories. Hubby and I
are trying to go "off the grid" when it comes to
electronic transactions. I pay cash for nearly everything.

We have no credit cards, only a Mastercard debit cards.

I do pay some bills online, and even that makes me nervous. They
have our bank account information. Corporations are so empowered
these days, and so unaccountable. Not a good combination.

[Ilsa]

4. A check, yes. Cash, no. nt