Credit Card Companies To Sell Your Purchase Data To Advertisers

HardOCP News

[H] News
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Dec 31, 1969
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What do you think about credit card companies selling your purchase history to advertisers? You wouldn't mind? Right? ;)

The WSJ reports that they saw a document MasterCard was pitching around earlier this year. It described how the company wanted to sell cardholder data so each person could be targeted with ads online based on their individual swipe history.
 

Mad Cat

Limp Gawd
Joined
Sep 27, 2008
Messages
407
Good God, I don't even know where to start on this one. :eek: Moral, ethical, legal, common sense... no matter how you look at it, this is a BAD idea. Too bad it'll probably go through. :(
 

Shockey

2[H]4U
Joined
Nov 24, 2008
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Better Privacy and Disconnect and Ad Block are my favorite extensions.No more tracking!!!

Also automatic down loader to sort my downloads based on file type too
 

magoo

[H]F Junkie
Joined
Oct 21, 2004
Messages
14,492
Fuck you.I think that sums it up nicely.:D

Please, let me sell YOUR personal information to my friends, or some guy I met yesterday......you don't mind do you. jebus help me.....:rolleyes:
 

Greene420

Gawd
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Sep 29, 2011
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767
Well the article is a little misleading... but it does contain some VERY useful info on a lot of this, and something else (the DNA part) that was not mentioned above....

Actually, just skip the clickthrough, this paragraph exerpt explains the entire thing:

Mastercard has since walked that back after they realized it would break rules about how financial-services companies can use their members' data. Now MasterCard and Visa have moved onto an idea where cardholders are anonymized and aggregated into various "buyer profiles" that can be sold to online advertisers.

In a related move, Visa has also filed a patent for a system that would mesh information from DNA databases into buying profiles for targeting ads online.

MasterCard lets people opt-out from these kinds of programs by filling out the info at www.mastercard.us/privacy under "Data Analytics Opt-Out." Visa doesn't offer any such specific web page.
 

magoo

[H]F Junkie
Joined
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14,492
need an edit bitton......I didn't mean like F--- you Steve, I meant like Fuck you Mastercard, here are the pieces of my card.

Damn, what a shit idea.
 

Greene420

Gawd
Joined
Sep 29, 2011
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767
I don't mind my purchases being "anonymized" and used for ads, especially if I can opt out -----------^
 

Phoenix333

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3,510
There's a need for an "Information Bill of Rights", where the individual's rights trump those of corporations. Now, if only there was a snowball's chance in hell of such a thing making it into law...
 

AthlonXP

Fully [H]
Joined
Oct 14, 2001
Messages
20,486
This is total bullshit and we do need an Information Bill of Rights, this shit is getting out of hand..
 

Deezus

Gawd
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Jan 16, 2001
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859
Ok, I'll play the devil's advocate.

Wouldn't you rather see ads you might actually be interested in for a change?
 

GotNoRice

[H]F Junkie
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I'm not necessarily opposed to my shopping habits being sold to advertising companies, but I do want a cut of the money!
 

XacTactX

Supreme [H]ardness
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Just another reason to join a credit union, besides the fact that they competitive rates don't have to pull this BS because they're not chasing a pie-in-the-sky one-quarter-to-the-next profit motive.

Ok, I'll play the devil's advocate.

Wouldn't you rather see ads you might actually be interested in for a change?

What is the consumer going to get in return? I know the banks will get more advertising revenue, I know the average consumer will be more likely to spend money on shit (s)he doesn't need because the advertisements have surgical precision, but will the consumer be any better off?
 

Team Obi Juan

Your Local Postmaster
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What is the consumer going to get in return? I know the banks will get more advertising revenue, I know the average consumer will be more likely to spend money on shit (s)he doesn't need because the advertisements have surgical precision, but will the consumer be any better off?

Sounds like the average consumer will be buying stuff he wants...?
 

TechLarry

RIP [H] Brother - June 1, 2022
Joined
Aug 9, 2005
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30,483
Ok, I'll play the devil's advocate.

Wouldn't you rather see ads you might actually be interested in for a change?

I don't want to SEE any AD's unless I personally approve of them. Period.
 

plunger

Gawd
Joined
Jul 22, 2011
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730
I'm already trying to use cash as much as possible when offline. Even getting a 10% discount with my dentist by paying with cash in full later this week. $180 savings. More money for candy :D
 

whrswoldo

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Just another reason to join a credit union, besides the fact that they competitive rates don't have to pull this BS because they're not chasing a pie-in-the-sky one-quarter-to-the-next profit motive.

Joining a credit union versus a bank will not make any difference if the card issued by your credit union has a Mastercard logo on it. Check out the Mastercard privacy policy
 

magoo

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Oct 21, 2004
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14,492
Ok, I'll play the devil's advocate.

Wouldn't you rather see ads you might actually be interested in for a change?

If I want to buy something, I will research the appropiate model/brand/item for me; not what some adbot piece of shit mercenary asshole thinks I want or need.......

this shit IS already out of hand.:eek::eek:
 

Red Squirrel

[H]F Junkie
Joined
Nov 29, 2009
Messages
9,211
Damn, this really sucks. And you can't get away from it, if you use debit, they'll probably start doing it with debit purchases too eventually. In this world we really do not have privacy at all, it's sad really.

Not that I have anything to hide with what I buy, but it's just the principal of it all.

Guess it's time to buy everything with cash. Screw em. Kinda hard with online purchases though.
 

Magnus

[H]ard|Gawd
Joined
Jun 4, 2004
Messages
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Targeted ads are a myth. It's much cheaper, easier and, less complex to simply spam (I mean advertise) to everyone.
 

EODetroit

[H]ard|Gawd
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Oct 20, 2004
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How the fuck would online advertisers know who I am by my credit card number in order to target me in the first place?
 

Greene420

Gawd
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Sep 29, 2011
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How the fuck would online advertisers know who I am by my credit card number in order to target me in the first place?

I guess they would say "hey look mr advertiser, we have a group of "these 35-45 year old males who buy guns" -- would you like to advertise to them? Pay us, we are Mastercard and we will send your ads!

They are making money, off of having "inside knowledge" on what you buy, because you "opt in" when you sign that huge long agreement nobody actually reads.

......but if you read the bottom of the article, it says there is a way to opt out.

Kind of like fcebook... if you don't like its shitty privacy policy, don't use it.
 

Gnasher

[H]ard|Gawd
Joined
Jan 28, 2011
Messages
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Better Privacy and Disconnect and Ad Block are my favorite extensions.No more tracking!!!

Also automatic down loader to sort my downloads based on file type too

I have Better Privacy installed too but I don't think it is really needed anymore because Flash now allows you to block all the tracking crap in its own settings. If anything, you should add NOSCRIPT plugin to your arsenal.
 

Gizmotron

Limp Gawd
Joined
Sep 23, 2011
Messages
145
How the fuck would online advertisers know who I am by my credit card number in order to target me in the first place?

They're watching you. They want inside your head. Let us in friend. We whave offerings for you. Give us your money. Go to work. Good boy.
 

Greene420

Gawd
Joined
Sep 29, 2011
Messages
767
I have Better Privacy installed too but I don't think it is really needed anymore because Flash now allows you to block all the tracking crap in its own settings. If anything, you should add NOSCRIPT plugin to your arsenal.

Spot on!

I mean, if its there it helps, at least... but you're right, Noscript+AB Plus+https everywhere(3rd party)= pure internet browsing bliss
 

itanium

Limp Gawd
Joined
Aug 17, 2001
Messages
282
I can tell you that the data they are collecting doesnt contain individual items that you purchase only the stores you shop at which they have by default. This would be very similar to google ad words that customize advertisements based on the words you search for.

There is no functionality in existing credit card/pos systems to transmit that type of detail.
 

Gizmotron

Limp Gawd
Joined
Sep 23, 2011
Messages
145
I can tell you that the data they are collecting doesnt contain individual items that you purchase only the stores you shop at which they have by default. This would be very similar to google ad words that customize advertisements based on the words you search for.

There is no functionality in existing credit card/pos systems to transmit that type of detail.

Think again
 

Serpent

2[H]4U
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Jun 19, 2011
Messages
2,106
I....... don't think there is much wrong with it. Unless they actually sell our information like name, address, and such. But it seems like they're just selling something like, "we got 1000 people who bought this. Would you like to advertise to them through us."

But that article is pretty vague on exactly how or what they are doing.
 
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