Credit Cards

[manyquestions]

They haven't screwed me over lately.  So I will like them till they do.  I wish all credit card companies handled charge offs the way amex does.  You can screw them over, and ten years later, if you pay in full, you can get a card with your original open date.  That's a heck of a rebuilder card.  Not only that, but you can get five or six of them. Sweet.

[wmarat]

10/2007 = CL is $2400

12/2007 - CL is $5000

05/2008 = CL is $15000

12/2008 = cl is $25000.

If Amex stays calm after my morgage reports, I think to get Amex HHonors. I thought to get charge card, but I am allergic to AF.

[Mark_in_Pasadena]

It's my primary card, and I PIF every month. I love them because they PAY ME to choose their card over others, not the other way around:

[Watchmann]

This thread must be bogus as we all know that AMEX is the worst credit company on the planet, at least that is what the typical AMEX bashing post says.    I've had AMEX accounts since 1980 and have lived all over the world (Middle East, Asia, Australia).  It is the only card where you can rely on getting help if you need it.  Try getting help on a Visa card in Saudi Arabia on a weekend.  Zip.  But I used to regularly cash $5,000 personal checks when I lived there in the late '80's with my Gold Card.  For day to day stuff you don't need an AMEX card, but for serious travelling it can't be beat.  (edited)AMEX is a true T&L (Travel and Leisure) card for people who use it a lot and PIF each month.  And they still own the business travel field hands down.  Sure, some good people got pinched in the recent AMEX downdraft, but the overwhelming majority of those that have had the CL's slashed or accounts cancelled were done so for good economic reasons when viewed in the cold light of day.

Message Edited by Watchmann on 03-07-2009 11:19 AM

Message Edited by haulingthescoreup on 03-08-2009 09:50 AM

[haulingthescoreup]

Watchmann, I am assuming that the "deadwood" to which you are referring is the collection of the redundant revolving credit card lines, and not the people who have joined during this period?

Because if you're calling people deadwood, this post is about to go bye-bye.


eta: I've left the majority of Watchmann's post.

Message Edited by haulingthescoreup on 03-08-2009 09:51 AM

[Watchmann]

---

haulingthescoreup wrote:
Watchmann, I am assuming that the "deadwood" to which you are referring is the collection of the redundant revolving credit card lines, and not the people who have joined during this period?

Because if you're calling people deadwood, this post is about to go bye-bye.

---

It is both.  AMEX made a lot of boneheaded decisions with cards and programs that were not well thought out, like offering a card for 'pre-affluent' people (that's their terminology, not mine), or engaged couples, or cards for people in particular cities.  But they also extended credit to customers who really shouldn't have been given credit to begin with, or at least the amount of credit they were offered.  They are not alone, the whole credit industry extended a lot of credit to people that should not have gotten it.  That is an undisputed fact, and a large reason why we are in the situation we are in.  AMEX, and the whole credit industry, are reducing their exposure to this toxic stuff.  They are cutting people loose.  Yes, they are cutting the deadwood accounts from their portfolio.  I'm not sure why that is considered an offensive statement.

Funny how a thread that started as a positive for AMEX now has turned to more AMEX bashing.

Message Edited by Watchmann on 03-08-2009 09:38 AM

[haulingthescoreup]

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Watchmann wrote:

---

haulingthescoreup wrote:

Watchmann, I am assuming that the "deadwood" to which you are referring is the collection of the redundant revolving credit card lines, and not the people who have joined during this period?

Because if you're calling people deadwood, this post is about to go bye-bye.

---

It is both.  AMEX made a lot of boneheaded decisions with cards and programs that were not well thought out, like offering a card for 'pre-affluent' people (that's their terminology, not mine), or engaged couples, or cards for people in particular cities.  But they also extended credit to customers who really shouldn't have been given credit to begin with, or at least the amount of credit they were offered.  They are not alone, the whole credit industry extended a lot of credit to people that should not have gotten it.  That is an undisputed fact, and a large reason why we are in the situation we are in.  AMEX, and the whole credit industry, are reducing their exposure to this toxic stuff.  They are cutting people loose.  Yes, they are cutting the deadwood accounts from their portfolio.  I'm not sure why that is considered an offensive statement

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There is a difference in terming accounts, aka, things as deadwood and terming people as such. I'm quite certain that you understand this.

It's called good manners. Period. It is possible to state opposing viewpoints and yet not insult the people involved. You've gotten enough messages about this by now, both from moderators and from the members of the forums in general, so it's not like you can possibly be unaware of this concept.

[haulingthescoreup]

And to other members, I would like to echo a good point made by Watchmann: a post started to provide positive feedback about American Express is now filling up with posts about problems with American Express.

Please respect the intent of the OP when posting.

The other posts are now being removed as being off-topic.

[MidnightVoice]

I like Amex

[Scout65]

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MidnightVoice wrote:
I like Amex

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+1

Yes, they raised the APR on my blue card, but the balance is PIF.  My CLs with my blue and clear are intact.  Still love my green card.

And, I will be on vacation in Europe next week.  If I run into trouble, Amex will be the first CC company I call.