Tesco 'to use Clubcard for credit rating'
23 November 2009 16:40:26
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| Credit scores may be determined by shopping habits. |
The supermarket giant could use its Clubcard loyalty scheme to assess applications for its credit cards, the Times reported.
Last week, Tesco announced plans to partner with US technology firm Fiserv over the development of IT systems and infrastructure in order to extend the reach of its financial services and products.
A statement from the firm said that it intended to grow "from a collection of successful financial products to that of a full service retail bank offering more choice, innovation and value to customers".
Tesco has now suggested that applicants for credit cards and other products will be assessed on the basis of their previous shopping habits.
A spokesman told the Times that the company will use the data on an "aggregated basis", but would continue to employ Experian as its main credit rating authority.
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