Reaction to Charles Duhigg's Article “What Does Your Credit-Card Company Know About You”

Reaction to Charles Duhigg's Article “What Does Your Credit-Card Company Know About You”

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“What Does Your Credit-Card Company Know About You” was written by Charles Duhigg, and first appeared in the May 17, 2009 issue of the New York Times. In the article, Duhigg explains how and why credit card companies are changing their business plans. Companies are no longer handing out credit cards and hoping the cardholders who consistently pay their dues will make up for the cardholders who don’t pay their dues. Today companies are focusing more on understanding the cardholder’s lives and psyches to make larger profits.
Duhigg explains that companies began changing their plans when math whizzes arrived at the discovery that the largest profits didn’t come from cardholders that paid off their bills, but rather from cardholders that never paid the full amount. But this discovery soon developed into a problem because many companies didn’t know which cardholders would pay consecutively each month or which cardholders would find themselves in huge debt and leave.
The Doctors of Philosophy found two solutions to the proposed concern. One of the solutions was to develop new card...

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