Asda JaJa credit card reports different balance to statement

MattMattMattUK

whyso said:

Amount spent and payments made is what people in that industry have said they report.  Not what the money was spent on or where it was spent. 

Simply money in and money out, how frequently you buy, any big spends at specific times of month is reported in the background data. Not where it was spent. It allows the tracking of normal spending habits and whether or not there's emergent financial difficulty. 

Plus with Open Banking, they already know what you spend your money on. They know whether you're a gambler or a potential diabetic/heart disease take-away fiend, and can make decisions based on that. 

These "people in that industry" that you are supposedly listening to either are not, or are wrong. Is this for example someone you know, in person, who happens to be a senior data manager at a CRA or financial institution, or, more likely is it really "something I read online"  likely YouTube/Faceache/etc.

None of what you are calling "background data" is reported to the CRAs, just the status of your account and the account balance, that it is. Open Banking is also nothing like what you seem to think it is, spending data is not shared, or mixed with other data to give wider information, that is proper conspiracy theory stuff and simply not true.