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American express, be afraid, be very afraid

Valued Contributor

Re: American express, be afraid, be very afraid


bs6054 wrote:

navigatethis12 wrote:

Well I really do not fault them for trying to get the money that they are rightfully owed. The people who payed the old account to get a new one have no room to argue about not being fair, in my opinion.



 

But there are right and wrong ones to go about getting the money you are rightfully owed.   Some types of "lenders" get great results by threatening to break legs (and following through when a lesson is needed).   Amex didn't do that, but they did violate existing laws, hence the action.

 


So what you are saying is that Amex went outside the rules and got punished. Let that be a lesson to them. Being a pretty solid financial institution, they probably learned their lesson. There is no need to dwell on it and "blacklist" them or act as if they are some sort of predatory lenders. Life is about learning from your experiences and moving forward with past lessons in mind.



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 51 of 64
Super Contributor

Re: American express, be afraid, be very afraid

With Amex, if you use the card as intended (no outlier activity), then I think the you'll find Amex has excellent customer service and will bend over backwards to assist when you have an issue.

 

FRs occur when their computer systems flag certain "outlier" charging activity.  For instance, charging more than your annual income; or, making large amount of cash like purchases.  I'm sure lots of data points go into it, but it seems if you use the card as intended, FRs don't pop up.

 

 

Message 52 of 64
Valued Contributor

Re: American express, be afraid, be very afraid


Swapmeet wrote:

bs6054 wrote:

navigatethis12 wrote:

Well I really do not fault them for trying to get the money that they are rightfully owed. The people who payed the old account to get a new one have no room to argue about not being fair, in my opinion.



 

But there are right and wrong ones to go about getting the money you are rightfully owed.   Some types of "lenders" get great results by threatening to break legs (and following through when a lesson is needed).   Amex didn't do that, but they did violate existing laws, hence the action.

 


So what you are saying is that Amex went outside the rules and got punished. Let that be a lesson to them. Being a pretty solid financial institution, they probably learned their lesson. There is no need to dwell on it and "blacklist" them or act as if they are some sort of predatory lenders. Life is about learning from your experiences and moving forward with past lessons in mind.


Hey, I am not anti-Amex (I have one of their cards in my sig) but some people here do seem to give them too many breaks.  This is hardly a one off, e.g. $65M fine in 2007 for inadequate financial controls against money laundering.  I am not dwelling on it, or blacklisting them etc, merely trying to provide the other side to "Person X had a bad experience with AMEX -> Person X is hiding negative details because AMEX is always right"

Message 53 of 64
Valued Contributor

Re: American express, be afraid, be very afraid

Right on bro. I agree that people put amex on a pedastal. And I stipulate your point about







My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Message 54 of 64
Frequent Contributor

Re: American express, be afraid, be very afraid


Swapmeet wrote:

Right on bro. I agree that people put amex on a pedastal. And I stipulate your point about


If only this would satisfy the forum Smiley Happy... sadly this dialog will continue. Smiley Sad

 

So we have this:

  1. The AMEX worshippers
  2. The AMEX haters
  3. The AMEX card holders that got AA'd/FR'd and now are in #2
  4. The "I wish AMEX would approve me for a card" haters.  Also in #2
  5. The AMEX cardholders that have no idea that AA or FR's even exist.

We should have to put this identifier in our sigs, like a scarlet number.


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Message 55 of 64
Frequent Contributor

Re: American express, be afraid, be very afraid


jake619 wrote:

Swapmeet wrote:

Right on bro. I agree that people put amex on a pedastal. And I stipulate your point about


If only this would satisfy the forum Smiley Happy... sadly this dialog will continue. Smiley Sad

 

So we have this:

  1. The AMEX worshippers
  2. The AMEX haters
  3. The AMEX card holders that got AA'd/FR'd and now are in #2
  4. The "I wish AMEX would approve me for a card" haters.  Also in #2
  5. The AMEX cardholders that have no idea that AA or FR's even exist.

We should have to put this identifier in our sigs, like a scarlet number.


Amex is not good in any possible way generaly speaking


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 56 of 64
Frequent Contributor

Re: American express, be afraid, be very afraid

I cant get approved for chase bank because of a bk and some new accounts  but i got to admit they are top of the line lender

Amex?Nah not even close.Plus chase is more willing to work with the people.Amex is looking for fairy tales conditions and open and close accounts faster than a car piston.lol


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 57 of 64
Contributor

Re: American express, be afraid, be very afraid


astritaho1979 wrote:


Amex is not good in any possible way generaly speaking


 

 

Really?Man Surprised

current cards
WM store
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WF secured
Amazon Chase Smiley Happy
Gardening since 12/20/2012
Message 58 of 64
Valued Contributor

Re: American express, be afraid, be very afraid


jake619 wrote:

Swapmeet wrote:

Right on bro. I agree that people put amex on a pedastal. And I stipulate your point about


If only this would satisfy the forum Smiley Happy... sadly this dialog will continue. Smiley Sad

 

So we have this:

  1. The AMEX worshippers
  2. The AMEX haters
  3. The AMEX card holders that got AA'd/FR'd and now are in #2
  4. The "I wish AMEX would approve me for a card" haters.  Also in #2
  5. The AMEX cardholders that have no idea that AA or FR's even exist.

We should have to put this identifier in our sigs, like a scarlet number.


well i know what aa/fr is thanks to this forum but doubt ill ever get it done too me. 

too me i know getting an amex was great but its just like my other cards. (besides pif being a requirement as opposed to a choice)

 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 59 of 64
Frequent Contributor

Re: American express, be afraid, be very afraid


creditnocash wrote:

jake619 wrote:

Swapmeet wrote:

Right on bro. I agree that people put amex on a pedastal. And I stipulate your point about


If only this would satisfy the forum Smiley Happy... sadly this dialog will continue. Smiley Sad

 

So we have this:

  1. The AMEX worshippers
  2. The AMEX haters
  3. The AMEX card holders that got AA'd/FR'd and now are in #2
  4. The "I wish AMEX would approve me for a card" haters.  Also in #2
  5. The AMEX cardholders that have no idea that AA or FR's even exist.

We should have to put this identifier in our sigs, like a scarlet number.


well i know what aa/fr is thanks to this forum but doubt ill ever get it done too me. 

too me i know getting an amex was great but its just like my other cards. (besides pif being a requirement as opposed to a choice)

 


1plus


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 60 of 64