I've been browsing the Web for a 2nd credit card (I currently have only one CC account), and found that some credit unions have AMEX branded cards.
Are these CU AMEX cards underwritten by the CUs or by AMEX? Would getting a CU AMEX get me around some of AMEX's nasty policies (balance chasing, financial reviews, etc.)?
I shop at Costco, so an AMEX branded card would be nice to have, but I don't want to get tangled up with AMEX's consumer-unfriendly policies.
I did search on the CU Amex and only Arrowhead CU came up.
They are underwritten by the credit unions themselves, and are simply processed on the Amex network at the point of sale.
Think of it like how many banks issue their own Visa cards.
The CU Amex cards are entirely independent of Amex the bank themselves, and any AA taken by the CU would be on their behalf alone.