A personal finance blog dedicated discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance.


Thursday, March 17, 2005

Chase and Bank One Privacy Policy

The other day I posted about the importance of reading your credit card privacy agreements. Today I was filing some papers and I came across the privacy agreement for my Chase account. Chase offers two choices when it comes to information sharing:

Choice #1.

You may tell us not to share information about you with non-financial companies outside of our family of companies. Even if you do tell us not to share, if you have authorized us to share information in connection with a particular product or service, we will continue to share information about you in connection with that product or service. For example, you might have a credit card with one of our airline, retail or university partners that offers rewards programs.

Choice #2.

You may tell us not to share the following information about you within our family of companies:
  • Information from your applications to be used to determine your eligibility, such as your income.
  • Information from credit reports, such as your credit history.
  • Information from sources used to verify information you provide us, such as outstanding loans or employment history.

Even if you do tell us not to share, we may share other types of information within our family. For example, we may share name and address, information about transactions or balances with us, as well as survey results.

I may be wrong but this is kind of like saying, "Go ahead and make your choice but we will continue to do whatever we want."

Anyway, I thought that was interesting.