Do credit card companies track of exactly what you are purchasing?
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Jerry
The ones that offer cash back rewards do to a certain extent because there are different percentages paid based on what people buy.
They don’t know exactly what you bought but they do know if it was grocery’s, gas, pharmacy goods etc.
Vicki
No, credit card companies do not keep track of your advil and Krispy Kreme doughnut purchases. They keep track of generic categories for cashback rewards (if applicable) or various other reasons. Other than that, they are just happy that you using the card and are hoping caring a balance so they can charge interest.
Jose
No. They know the merchant, location and an industry group for the merchant. The industry group is needed for security. They analyze your buying patterns and look for anomalies. Someone who suddenly starts buying things at electronics or jewelery stores may mean that the card is stolen and they should contact the customer. the same with somebody who is buying online a lot who has never used internet stores before. Some cards give different rebates fo gas vs. non-gas purchases.