Reply
Member
Posts: 11
Registered: ‎07-10-2009
0

Credit Union AMEX?

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.

 

 

Thanks,

 


JD

 

Super Contributor
Posts: 6,002
Registered: ‎05-23-2009
0

Re: Credit Union AMEX?

 I did search on the CU Amex and only Arrowhead CU came up.

 

link: 

 

 

http://www.arrowheadcu.org/index.cfm?Parent=ArrowheadCreditUnion&Category=Loans&SubCategory=Rewards%20American%20Express%C2%AE%20Credit%20Card

 

 

 

 

 

Ron. 

Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Credit Union AMEX?

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. 

Here we go again...
Super Contributor
Posts: 6,002
Registered: ‎05-23-2009
0

Re: Credit Union AMEX?

Credit Union Amex is all underwritten by FIA Card Services (BofA).

 

Ron. 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.