With this day and age of data collection, private companies are collecting your personal information. One aspect of this data collection are the loyalty cards that supermarkets and pharmacies offer. In exchange for discounts, your purchases are recorded for marketing purposes. The problem is that these records are now being sold to life and health insurance companies, who will use them to evaluate your rates based on your food and nonprescription drug purchases. So the next time you go to the store to pick up some medication for someone else or buying some artery clogging food, pay without your discount card. Or even better idea, pay cash! Who knows what your credit card companies are doing with your information.

Labels: insurance, money saving tip