It is true. We, as consumers, don’t know exactly what are the practices of our credit card companies. We think it is the same as what is happening right now with the credit card firms. We are being left out, or simply confused about where we stand.
This is happening because credit card companies have put so much emphasis in the last few decades on privacy and consumer protection. The new credit card companies are the first ones to finally realize that they need to be more than just a money spinner (in this case) so they are now starting to set strict privacy policies (and to make sure that they are abiding by those policies).
This is one of the reasons that credit card companies are going out of business in Europe and the U.S. The main reason for this is that the credit card companies still have the power to decide who can use their services for free. In addition, credit card companies have the luxury of being able to issue their own credit cards. Most people today have two credit cards and don’t have a third card in their checking account.
I’m sure when you get a credit card you don’t want to have your credit card information shared with anyone without your consent. I know that when I was a child my parents would go to the grocery store and purchase things based on my credit card’s purchase history. When they opened their bank account and used my credit card to make purchases they weren’t aware of, I didn’t know about it either.
I am a very happy human being. I’m a pretty good at avoiding having my credit card information shared with anyone without my consent.