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Moderator
Revelate
Posts: 8,164
Registered: ‎12-30-2011

Re: Amex Blue Cash Denial.


ccnewcc wrote:
 If my product wasn't accepted by many merchants (and worldwide Merchants at that), I'd too try to treat my cusomers well.  Especially if my customers are paying me $500 in AF every year just so they can be called Suckers ....oops, I mean "members" of my company.

 


FWIW I've run across a grand total of 3 places which haven't accepted Amex where I live, out of the literally hundreds of restaurants and other retail places I've visted over the last year.

 

For those paying the $500ish AF, if the rewards and perks they're earning justify it, than it's a smart financial decision.  That goes for any card, not just Amex's. 

 

End of the day, if Amex doesn't work for you, that's fine; however, I'd encourage you to be somewhat more open-minded that they can work for others.  The same goes for the near bashing of anyone who has an Amex which isn't quite appropriate on these forums.

 

 

 

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ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: Amex Blue Cash Denial.


Revelate wrote:

ccnewcc wrote:
 If my product wasn't accepted by many merchants (and worldwide Merchants at that), I'd too try to treat my cusomers well.  Especially if my customers are paying me $500 in AF every year just so they can be called Suckers ....oops, I mean "members" of my company.

 


FWIW I've run across a grand total of 3 places which haven't accepted Amex where I live, out of the literally hundreds of restaurants and other retail places I've visted over the last year.

 

For those paying the $500ish AF, if the rewards and perks they're earning justify it, than it's a smart financial decision.  That goes for any card, not just Amex's. 

 

End of the day, if Amex doesn't work for you, that's fine; however, I'd encourage you to be somewhat more open-minded that they can work for others.  The same goes for the near bashing of anyone who has an Amex which isn't quite appropriate on these forums.

 

 

 


My whole point is that ppl who give bad advice like "establish a relationship" and "feet in doors" etc, is determintal.  How many ppl have we seen on here get burned by that advice.

 

Opinions are one thing, but advising others to worship Amex or any other lender is harmful to purpose of these forums

Moderator
Revelate
Posts: 8,164
Registered: ‎12-30-2011

Re: Amex Blue Cash Denial.

[ Edited ]

ccnewcc wrote:

My whole point is that ppl who give bad advice like "establish a relationship" and "feet in doors" etc, is determintal.  How many ppl have we seen on here get burned by that advice.

 

Opinions are one thing, but advising others to worship Amex or any other lender is harmful to purpose of these forums


How?  If you want something from anyone, you typically have to give something in return.  

 

Tossing out the corner cases of true philanthropists and perhaps parents, that's an inescapable fact of life.  I don't know your experience, but it's been demonstrated repeatedly to at least my satisfaction (for little that is worth) that financial institutions absolutely play by this standard.   I've seen dozens of applications approved where a relationship was already established for every single one which was denied.  Amex and Chase both follow this, and it looks like BOFA is now doing so as well from the anecdotal evidence here.

 

In Juan's case, and this is by no means a disparagement of him as I respect his opinion and his journey; however, spending on track for roughly $2500 over the course of the year might not even justify the AF which Amex waived for him.  If any financial insitution is losing money on any customer, why do you think they would push their markers forward in what's perceived to be a bad bet in the first place?

 

The "foot in the door" or "relationship establishing" tactic is unequivocally legit in today's market.  Even the near-prime waters are currently red, and every single customer acquisition is a take-away from some other lender.  As a result, lenders are doing the smart thing and attempting to keep customers rather than have them flee elsewhere... the cost of acquiring a new customer with the current signup bonuses isn't trivial when taken on the scale that any of the afore-mentioned lenders have.

 

Yes, Amex is just a lending company, but they're one of the better (if not best) ones out there, and they offer a unique service to one's FICO happiness, which arguably is the fundamental point of this entire forum even if that gets lost on this specific board.  Calling them ugly by any name is a stretch (with the *possible* exception of their FR policies which are typically warranted), but saying that Amex card-holders are Suckers... that's not even worthy of an ad hominem label, frankly it's just absurd. :smileyhappy:

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Juan123
Posts: 496
Registered: ‎04-16-2011

Re: Amex Blue Cash Denial.


Revelate wrote:

ccnewcc wrote:

My whole point is that ppl who give bad advice like "establish a relationship" and "feet in doors" etc, is determintal.  How many ppl have we seen on here get burned by that advice.

 

Opinions are one thing, but advising others to worship Amex or any other lender is harmful to purpose of these forums


How?  If you want something from anyone, you typically have to give something in return.  

 

Tossing out the corner cases of true philanthropists and perhaps parents, that's an inescapable fact of life.  I don't know your experience, but it's been demonstrated repeatedly to at least my satisfaction (for little that is worth) that financial institutions absolutely play by this standard.   I've seen dozens of applications approved where a relationship was already established for every single one which was denied.  Amex and Chase both follow this, and it looks like BOFA is now doing so as well from the anecdotal evidence here.

 

In Juan's case, and this is by no means a disparagement of him as I respect his opinion and his journey; however, spending on track for roughly $2500 over the course of the year might not even justify the AF which Amex waived for him.  If any financial insitution is losing money on any customer, why do you think they would push their markers forward in what's perceived to be a bad bet in the first place?

 

The "foot in the door" or "relationship establishing" tactic is unequivocally legit in today's market.  Even the near-prime waters are currently red, and every single customer acquisition is a take-away from some other lender.  As a result, lenders are doing the smart thing and attempting to keep customers rather than have them flee elsewhere... the cost of acquiring a new customer with the current signup bonuses isn't trivial when taken on the scale that any of the afore-mentioned lenders have.

 

Yes, Amex is just a lending company, but they're one of the better (if not best) ones out there, and they offer a unique service to one's FICO happiness, which arguably is the foundational point of this entire forum even if that gets lost on this specific board.  Calling them ugly by any name is a stretch (with the *possible* exception of their FR policies which are typically warranted), but saying that Amex card-holders are Suckers... that's not even worthy of an ad hominem label, frankly it's just absurd. :smileyhappy:


Very well said.


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Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: Amex Blue Cash Denial.


Revelate wrote:

ccnewcc wrote:

My whole point is that ppl who give bad advice like "establish a relationship" and "feet in doors" etc, is determintal.  How many ppl have we seen on here get burned by that advice.

 

Opinions are one thing, but advising others to worship Amex or any other lender is harmful to purpose of these forums


How?  If you want something from anyone, you typically have to give something in return.  

 

Tossing out the corner cases of true philanthropists and perhaps parents, that's an inescapable fact of life.  I don't know your experience, but it's been demonstrated repeatedly to at least my satisfaction (for little that is worth) that financial institutions absolutely play by this standard.   I've seen dozens of applications approved where a relationship was already established for every single one which was denied.  Amex and Chase both follow this, and it looks like BOFA is now doing so as well from the anecdotal evidence here.

 

In Juan's case, and this is by no means a disparagement of him as I respect his opinion and his journey; however, spending on track for roughly $2500 over the course of the year might not even justify the AF which Amex waived for him.  If any financial insitution is losing money on any customer, why do you think they would push their markers forward in what's perceived to be a bad bet in the first place?

 

The "foot in the door" or "relationship establishing" tactic is unequivocally legit in today's market.  Even the near-prime waters are currently red, and every single customer acquisition is a take-away from some other lender.  As a result, lenders are doing the smart thing and attempting to keep customers rather than have them flee elsewhere... the cost of acquiring a new customer with the current signup bonuses isn't trivial when taken on the scale that any of the afore-mentioned lenders have.

 

Yes, Amex is just a lending company, but they're one of the better (if not best) ones out there, and they offer a unique service to one's FICO happiness, which arguably is the foundational point of this entire forum even if that gets lost on this specific board.  Calling them ugly by any name is a stretch (with the *possible* exception of their FR policies which are typically warranted), but saying that Amex card-holders are Suckers... that's not even worthy of an ad hominem label, frankly it's just ridiculous. :smileyhappy:.


Amex card holders aren't.  But anyone who pays an AF of $500...are you kidding me 5 hundred Dollars?!?... is sucker.  They fell for trap.  What does $500 get you?  The luxury of floating your purchases for 30 days?  Big deal.

 

If you gotta pay to float your purcases, somethin'  is rotten in Denmark.

 

 

The only way an AF would be worth it pay, is that if it offers something like another membership into something.  Like Airport Lounges.

 

But again, I restate my point:  Worshiping Amex or another lender and advising others to do the same when it really is YMMV is harmfull.

Established Member
Satellite5
Posts: 14
Registered: ‎10-23-2012

Re: Amex Blue Cash Denial.

The reason a lot of people (me included) want Amex is because they have some pretty good cards. 6% back on groceries and 3% on gas sound great to me, but my spending habits at the moment don't justify paying an AF for the BCP, so I want to start out with a BCE.

 

And all the cards they carry come with additional perks like purchase warranty, roadside assistance, etc. LOL, I sound like a commercial, so I'll stop. 

 

People do tend to put Amex on a pedastal, but wanting one is not unjustified. I doubt they're trying to get it just to carry around an extra piece of plastic in their wallets. :smileyhappy:

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Moderator
Revelate
Posts: 8,164
Registered: ‎12-30-2011

Re: Amex Blue Cash Denial.

[ Edited ]

Look at the terms and conditions for any card before you outright dismiss it, that's true with the Plat and pretty much every other (Visa Black, OK even I draw the line there).  When I travelled for work which was over 200K miles / year, I could've absolutely justified the AF this card carries assuming that one of their airline partners was the one I frequented.  

 

Even outside that, if one's spend is high enough, any AF can be justified, and that's pretty much universally true as well.  There are many others on this particular forum with spend rates which dwarf mine for various reasons, and they travel.  As a result, this card can be one of the best in the industry if the airline partners line up right. $475 for that, ah heck, even I've spent more than that in a single night out on several occasions, and arguably the Platinum sitting in a sock drawer would've been more rewarding than where any of those dates went. :cattongue:

 

That said, to your point, there are a great many people (easily 90% of America if not higher), and I am currently one of them, where the Plat just a waste of money.  I've been nearly laughed at for stating the artist formerly known as Zync was the best Amex charge card for me, but it's a mathematical fact based on the AF vs. the rewards, and I'm not in a position where I have to have a high-level card in my business transactions unlike others, so I can't even take whatever soft-benefits the "prestiege" offers.. but in some environments it absolutely does matter what you pay with, and it's an awfully short list.

 

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
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distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Amex Blue Cash Denial.

[ Edited ]

ccnewcc wrote:

My whole point is that ppl who give bad advice like "establish a relationship" and "feet in doors" etc, is determintal.  How many ppl have we seen on here get burned by that advice.

Opinions are one thing, but advising others to worship Amex or any other lender is harmful to purpose of these forums


I don't understand why people would hate Amex or it's Annual Fees. Remember they DO have non annual fee cards, and they do offer REVOLVER lines which are NOT charge cards that should be paid off at the end of every month. If people pay $500 for an annual fee like the Platinum they're not suckers and can often be the smarter consumer.

 

Have you ever looked through the benefits of a Platinum? You can not have read the benefits and say that people who have the Platinum card are all suckers. If you travel atleast 1 international flight a year you can more than WELL get your money back. 

 

Unlimited First-Class Airport Lounge Access 

 

1. Lounge Visit would cost $50 and I take advantage of 4 on a international trip to Vietnam (3 layovers)

 

 

 

Companion Tickets For International Flights

Receive a companion ticket when you buy a qualifying business or first-class ticket for an international flight 

Expedited Entry Thru U.S. Customs

 

2. Can save you THOUSANDS literally. This should be obvious



$200 Reimbursement For Airline Fees
Another favorite AmEx Platinum travel benefit is that you will get up to $200 in airline fees reimbursed every year! Simply select your favorite airline (any airline) and you will be eligible to receive statement credits to cover up to $200 for any incidental fees from that airline (checked luggage fees, in-flight food/drinks, on-board entertainment, etc).

 

3. FREE $200 credit to use at airlines, even if it's just check and every bag so you can walk around without carrying ANYTHING.

 

 

 

conversion to miles is on a 1 for 1 basis with most airlines. 

So instead of spending 25,000 points on a $250 retail gift card, you could convert the points to 25,000 frequent flyer miles with a participating airline of your choice. As you know, FF miles are usually worth much more than a penny per point, since you can redeem flights at set increments (like 25k miles for domestic roundtrip). Therefore your actual realized value may be up to 2-3 cents or more per point, when compared to the cost of buying the same ticket on your own (i.e. using 25,000 miles for a roundtrip ticket that would normally cost you $600).

 

4.Actual MILES and POINTS value greatly differs

 

 

 

Free Hotel Upgrades & Benefits
AmEx has partnered with over 700 hotels/resorts to offer a wide array of perks and upgrades. This program is called Fine Hotels & Resorts and it is exclusive to Platinum & Centurion "black card" members:

  • Free room upgrade when you check-in, if available
  • 4:00 PM late checkout
  • Complimentary breakfast for two each morning
  • Additional perks like $100 food/drink/spa credits, complimentary third night stays, etc. are offered at many properties

5. I don't know about you but free room upgrade, and a 4PM check out? I'm in love. I HATE HATE HATE 11am or Noon check outs. Could potentially save you a entire extra night's stay if you over sleep a little.

 

 

No Foreign Transaction Fees

 

6. No Transaction fees enough said.

 

Personal Concierge Service

 


7. Did you know being a Amex holder also gets you great benefits like buying tickets for upcoming concerts and events before they go on public? So instead of refreshing the page over and over trying to land great tickets with millions of people you can have people secure you great seats before the masses even take a shot.

 

 

 

 

1. Potential Savings airport lounges = $200 in 1 round trip

2. Free companion ticket = potential $3,000 - $7,000 in savings

3. $200 airline credit / enough said

4. Potential savings miles =  200-300%  vs points

5. Free room upgrades at a nice hotel is usually $50+ a night + 4pm check out could save you 100% of a another night's stay incase you over slept or got caught in traffic etc. and $100 Spa credit? YES PLEASE.

6. No foreign transaction fees.  I don't know about you but with BOA they charged me about 5% so if you spend $10,000 on a trip you wasted $500

 

 

Extras

 

1. FREE GLOBAL ENTRY which costs $100

 

 

2. Travel insurance and baggage insurance are gold - "you are insured by up to $100,000 in the event of dismemberment or accidental death (in which case your beneficiaries would be paid)."  It's like free life insurance.

 

3. For carry on and checked luggage, you're covered for up to $3,000. Keep in mind this is on top of the airline’s coverage, so your total coverage is even higher.

 

 

 

 

 

Now tell me that if you took ONE international trip you wouldn't have made up for the $500 annual fee, personally I would think your a "Sucker" if you travel without one.

 

 

 at the BARE minimum. 2 lounge visits a year = $100 saved + $200 airline credit for ANYTHING even extra food or drinks onboard = $300  + Free Global Entery $100 = $400  and Spa credit $100 or late check out saving you from 1 extra night = atleast $200  so that's a minimum of $500-600 potentially saved off 1 weekend domestic trip, plus you got extra insurance for anything.

 

 

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012

Re: Amex Blue Cash Denial.

I don't hate Amex.  Notice how I told OP to recon for Amex.  I do hate AFs tho.

 

What I don't like is that ppl give advice that hurt ppl on this forum when we really don't know what will really happen when some trys to PC or apply.  

Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Amex Blue Cash Denial.

@distantarry. +1000

To OP... use your card more. Why would they take you to the prom if all you do is say hello once a month during homeroom.... think about it

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