Rewards Cards: How Much Personal Information Is Collected?

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NORTH TEXAS (CBS 11 NEWS) - It seems like every store is offering rewards programs these days. And now some retailers have started teaming up, offering one card that helps you earn points at several stores. It allows you to use points earned from one retailer at another store.

The new loyalty program is called Plenti, run by American Express. Think grocery or pharmacy rewards card for retailers!

Plenti's partners include AT&T, Exxon, Nationwide, Macy's and others. But not much is known about how much and what customer information it collects when you sign up.

Southern Methodist University marketing professor Dan Howard says it is important for consumers to pay attention to what information you're giving before signing up for any such card. "The suggestion that absolutely, positively no sharing whatsoever, I do not find that to be believable," he told CBS 11 News.

Plenti's privacy policy states it collects and shares some information with its "sponsors" including name, date of birth, and contact information. And, in some cases, information on account balance and purchase history. That's unless you go online or call to "limit the sharing" within 30-days of signing up.

Collecting data is big business. "These companies collect data for a reason. It's valuable to them. They package the data," says James Golder, an attorney at the Federal Trade Commission. "Some companies sell data to third parties"

Plenti told CBS 11 that "it does not share any customer information with third parties."

The I-Team scoured the fine print of several other retailers offering reward cards. Some say they "do not sell, trade or rent customer personal info at all." Some say they "store names, ages, addresses, credit card information even the address of gift recipient." And some say that "they may also provide information to any affiliated businesses or business partners or fulfillment houses."

Consumers can opt out, but you'll have to go through the privacy policies for the stores you visit.

Here are some websites you can check out before signing up -

The Privacy Policy For Kroger Co.
The Online Privacy & Security Policy for Walgreens
The U.S. Privacy Policy for Safeway (Tom Thumb)
The Consumer Privacy Notice for Plenti
The Privacy Policy for CVS Pharmacy

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