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Frequent Contributor
ChemGuy
Posts: 286
Registered: ‎05-02-2007
0

Sad, yet hilarious and telling tidbit about AMEX

So, I have it on good confidence that AMEX does NOT provide employees with interst discounts on AMEX cards, nor do they offer them easier access to personal cards.  You'd think the company would want employees using the products.  BUT, they don't offer these as incentives to any employees.  Why?  Because >50% of people throughout the company would not have the credit to qualify for a card!  

 

Hence, AMEX employees don't necessarily walk around with the company product.  Yikes......

Regular Contributor
MMart078
Posts: 125
Registered: ‎08-08-2009
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Re: Sad, yet hilarious and telling tidbit about AMEX

Maybe that is why their customer services is so horrible work morale is low.
Established Contributor
Watchmann
Posts: 989
Registered: ‎05-14-2008
0

Re: Sad, yet hilarious and telling tidbit about AMEX


ChemGuy wrote:

So, I have it on good confidence that AMEX does NOT provide employees with interst discounts on AMEX cards, nor do they offer them easier access to personal cards.  You'd think the company would want employees using the products.  BUT, they don't offer these as incentives to any employees.  Why?  Because >50% of people throughout the company would not have the credit to qualify for a card!  

 

Hence, AMEX employees don't necessarily walk around with the company product.  Yikes......


 

I fail to see your logic.  Why should they lower their standards to employees vs. the general public?  A bad credit risk is a bad credit risk, every company has their share of financial deadbeats (even AMEX).  No sense giving them preferential treatment.  It won't make them any better employees and will just put them at risk (both the employee and the employer).  Better to judge the employee on their merits to do the job rather than just giving out freebies because they work for you.  If you want to reward them pay them more money rather than handing free credti..
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DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Sad, yet hilarious and telling tidbit about AMEX

The frontline CSR's who answers the phone may not excactly be an AMEX employee.  It is very possible that they are part of a temp staff agency.  Those employees may not  have a strong credit history, stable employment and decent salary to qualify for AMEX products. Then again, they may not want a credit card. 

 

When you work for a credit card company, and see so many people with very high balance paying only the minimum, that can be a deterrent to stay away from CC's.   

Regular Contributor
MMart078
Posts: 125
Registered: ‎08-08-2009
0

Re: Sad, yet hilarious and telling tidbit about AMEX

this could be very true in this economy
Regular Contributor
doood71
Posts: 108
Registered: ‎07-05-2007
0

Re: Sad, yet hilarious and telling tidbit about AMEX

Or maybe they just don't want an AMEX card because they know how AMEX treats cardholders! :smileytongue:

 

 

 

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Regular Contributor
JimB
Posts: 179
Registered: ‎10-21-2008
0

Re: Sad, yet hilarious and telling tidbit about AMEX


Watchmann wrote:

I fail to see your logic.  Why should they lower their standards to employees vs. the general public?  A bad credit risk is a bad credit risk, every company has their share of financial deadbeats (even AMEX).  No sense giving them preferential treatment.  It won't make them any better employees and will just put them at risk (both the employee and the employer).  Better to judge the employee on their merits to do the job rather than just giving out freebies because they work for you.  If you want to reward them pay them more money rather than handing free credti..


You're right. In the early 2000s, I worked for an investment bank that decided to get into the credit card biz by launching its own Visa card. The bank bombarded its employees with e-mails, urging us to apply & even offering sweepstakes prizes as inducements. But they also made it clear that we'd have to meet the same underwriting requirements as anyone else.

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Sad, yet hilarious and telling tidbit about AMEX


JimB wrote:

Watchmann wrote:

I fail to see your logic.  Why should they lower their standards to employees vs. the general public?  A bad credit risk is a bad credit risk, every company has their share of financial deadbeats (even AMEX).  No sense giving them preferential treatment.  It won't make them any better employees and will just put them at risk (both the employee and the employer).  Better to judge the employee on their merits to do the job rather than just giving out freebies because they work for you.  If you want to reward them pay them more money rather than handing free credti..


You're right. In the early 2000s, I worked for an investment bank that decided to get into the credit card biz by launching its own Visa card. The bank bombarded its employees with e-mails, urging us to apply & even offering sweepstakes prizes as inducements. But they also made it clear that we'd have to meet the same underwriting requirements as anyone else.


 

The only way OP would make sense is if AMEX required spotless credit and 760 FICO before hiring an employee....at which point people would complain that this was some sort of unfair discrimination.

 

Somebody who is competent at a given task or skill does not equate to their competency in any other given area....ie:  a qualified CSR does not mean credit qualified.

 

AMEX deals in money.  It is one thing to offer an employee discount on a manufactured product, because there is a margin and cost basis.  But a dollar costs a dollar...and in default a dollar costs more than a dollar.

 

:smileyindifferent:

 

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Established Contributor
okstatefan5945
Posts: 517
Registered: ‎04-13-2009
0

Re: Sad, yet hilarious and telling tidbit about AMEX


DI wrote:

The frontline CSR's who answers the phone may not excactly be an AMEX employee.  It is very possible that they are part of a temp staff agency.  Those employees may not  have a strong credit history, stable employment and decent salary to qualify for AMEX products. Then again, they may not want a credit card. 

 

When you work for a credit card company, and see so many people with very high balance paying only the minimum, that can be a deterrent to stay away from CC's.   


 

This is very true. PLEASE DONT BASH ME FOR MY LOW TIMES but I worked for a call center recently marketing credit cards. The call center did no credit check for employment. I definately would not have qualified for this companies card as I had horrible credit and was getting turned down for secured cards. I had collections etc. I have recently got my credit cleaned up somewhat and have some subprime cards but still would not qualify for the card I was marketing. So everyone you talk to doesnt necessarily work for that company as I didnt work for the card company I marketed for I worked for my company which was their partner client. But with that said it would be a horrible business decision to give employees a card just because they worked for you. At least without running a credit check for employment first.
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