Not really. Times have changed and so have habits and employment/salaries. Amex is a Bank that needs to keep up with the market and maintain its share. So, they will adjust where necessary, or be defunct! They are in business to make money! All of those exclusive people from the 60's and 70's are 80's old and /or dead!
Change is constant!
SO............
$4k is quite a bit more than the averge joe really need in terms of credit.
Most of us want the higher SL to offset those balance ratios. But really who wants to be 25-30k in debt with a bank?
That's not a good life or a good look. You'd always be stressed and drinking and doing drugs just to cope.
People need to learn restraint & financial mangement. How can someone wth adequate...ok, let's say a low-range $10/hour job with a $300SL starter card max it out and not pay that off? They are irresponsible! No other way around it. They make more than enough to pay off that $300 card.
I'd even argue that $500 is plenty for the averge joe. Banks these days have put themselves where they are. Giving out limits like candy at the $1 store. So, if the bank doesn't care, why would the person who is used to not paying bills?
A few years later, this same subprime person, wants to clean up their credit. They've learned and want to be a part of a regular functioning society. They have a better paying job and can now afford a better lifestyle. Nothing prestigious, but they can handle paying and being responsible. In comes the Banks that now want to gain a part of that persons financial resources. Remember times have changed and so have people...remember those prestigious people? They old & dead. Your exclusive bank & card, now needs to function as a normal everyday person business - if they want to stay in business.
Just because you got it, doesn't mean you should be charging it.
If you make $150-$200k a year, there is no reason you should NOT be able to plop down cash on whatever you are preparing to buy with that card.
That's like the hard working man who slaves all day making butt loads of money, only to have his wife in the store with his credit cards all day, every day chargining and chargining...he has no control or restraint over HIS life! If your mate wants to charge, let them get their own card and charge their credit up - using their exclusive social and birthdate.
A lot of these regular EXCLUSIVE people have this fasle sense of exclusivity and are the main ones in the top tier of debt - unable to pay their exclusive bills! All becuse the bank thinks they are special. LoL.
The rules of the game still has not changed... PAY WHAT YOU OWE!
