Credit companies tracking shopping habits

It used to be that credit card companies basically looked at your credit score to figure out how much credit they'd give you and what your interest rate would be. But now, some credit card experts, like at Orlando's Consumer Credit Counseling, say some companies could be profiling your behavior -- where you shop, what you buy and possibly much, much more.

Experts say with 10 percent of credit card holders defaulting on their debt, credit card companies are looking to weed out the riskiest customers. Someone's overall debt, payment history, credit report, and FICO scores are the ways risk used to be assessed. But in this economy, it's a whole new ballgame.

"I never thought I'd see a card at 32 to 42 percent interest!" said credit counselor Lisette Bermudez.

Bermudez says she has clients who have tried to talk with credit card agents over the phone, sharing information about a job loss or even a simple pay cut, only to get a letter a month or two later.

"They (clients) will confide in a credit card company and expect assistance, and then the next month, when they get the bill, their interest has gone up from 21percent to 29 percent because now they're a risk because they've taken a pay cut or lost a job," Bermudez said.

She warns, you may even be penalized for downshifting your shopping habits! If, for example, you begin to shop at a discount store instead of a higher end department store.

"It's a good thing for your household because you're being more responsible with your shopping habits; but now you're punished for it," said Bermudez.

Even habits like charging drinks to your card after you've gone through a pay cut or a downshifting in shopping could become a red flag to credit card companies in this economy.

"They can trace whatever we're shopping for, where we're going; and if I'm honest, if I ran the companies I might want to know who I'm targeting my card to," she said.

FOX 35 reached out to various credit card companies, but only one responded saying the banking institution is the one who issues the credit.