new AmEx holder and where not to use card question

[azguy13]

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@Networth wrote:

So true, most wealthy individuals did not become that way by shopping only at "high end" stores. My grandfather just bought a house on Nantucket, he than proceeded to furnish the entire pool house, patio, and garage buy purchasing things online from none other than Walmart(bikes, grill, shelves etc) while paying with a Centurion. Amex does not assume because you shop at Walmart here and there for some cheaper stuff that your going poor. On a side note you don't have to be the "Christian right" to shop at a discount store, you know what they say about assumptions....

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Exactly. And my inlaws do shop at some nice stores as well, but the majority of the small stuff is purchased at those discount stores. 

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[nyancat]

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@Networth wrote:

So true, most wealthy individuals did not become that way by shopping only at "high end" stores. My grandfather just bought a house on Nantucket, he than proceeded to furnish the entire pool house, patio, and garage buy purchasing things online from none other than Walmart(bikes, grill, shelves etc) while paying with a Centurion. Amex does not assume because you shop at Walmart here and there for some cheaper stuff that your going poor. On a side note you don't have to be the "Christian right" to shop at a discount store, you know what they say about assumptions....

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I do apologise if my statement on that seemed political or stereotypical, it was not meant to be politically conversational, just the best way to sum up the type of places to avoid using your Amex if you haven't made a habit of it before.

And to source what I'm saying (a practise American Express acknowledges they do):

http://consumerist.com/2008/12/22/amex-lowers-your-credit-limit-if-you-shop-where-deadbeats-shop/

http://abcnews.go.com/GMA/TheLaw/gma-answers-credit-card-companies-financially-profiling-customers/s...

http://voices.yahoo.com/dont-american-express-card-wal-mart-and-2084405.html

[azguy13]

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@nyancat wrote:

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@Networth wrote:

So true, most wealthy individuals did not become that way by shopping only at "high end" stores. My grandfather just bought a house on Nantucket, he than proceeded to furnish the entire pool house, patio, and garage buy purchasing things online from none other than Walmart(bikes, grill, shelves etc) while paying with a Centurion. Amex does not assume because you shop at Walmart here and there for some cheaper stuff that your going poor. On a side note you don't have to be the "Christian right" to shop at a discount store, you know what they say about assumptions....

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I do apologise if my statement on that seemed political or stereotypical, it was not meant to be politically conversational, just the best way to sum up the type of places to avoid using your Amex if you haven't made a habit of it before.

And to source what I'm saying (a practice American Express acknowledges they do):

http://consumerist.com/2008/12/22/amex-lowers-your-credit-limit-if-you-shop-where-deadbeats-shop/

http://abcnews.go.com/GMA/TheLaw/gma-answers-credit-card-companies-financially-profiling-customers/s...

http://voices.yahoo.com/dont-american-express-card-wal-mart-and-2084405.html

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I understand, it was just a friendly reminder

All three of those links are from 2008 and 2009, when every lender was cutting limits for various reasons. Remember, that was at the worst of our recession. It is a valid point that they used to do it though but when have you heard about it since?

[nyancat]

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@azguy13 wrote:

I understand, it was just a friendly reminder

All three of those links are from 2008 and 2009, when every lender was cutting limits for various reasons. Remember, that was at the worst of our recession. It is a valid point that they used to do it though but when have you heard about it since?

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I haven't heard about it since, but I've also heard nothing indicating they've stopped.

[azguy13]

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@nyancat wrote:

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@azguy13 wrote:

I understand, it was just a friendly reminder

All three of those links are from 2008 and 2009, when every lender was cutting limits for various reasons. Remember, that was at the worst of our recession. It is a valid point that they used to do it though but when have you heard about it since?

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I haven't heard about it since, but I've also heard nothing indicating they've stopped.

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I can agree with with. It could very well be the case that nothinig was published if they revoked that practice. It also wouldn't be news worthy I guess since it is good news, lol. 

Either way, if they are still doing it, they are VERY rarely doing it because you know the minute it happens, the person will jump on one of the forums and tell everyone about it

[nyancat]

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@azguy13 wrote:

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@nyancat wrote:

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@azguy13 wrote:

I understand, it was just a friendly reminder

All three of those links are from 2008 and 2009, when every lender was cutting limits for various reasons. Remember, that was at the worst of our recession. It is a valid point that they used to do it though but when have you heard about it since?

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I haven't heard about it since, but I've also heard nothing indicating they've stopped.

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I can agree with with. It could very well be the case that nothinig was published if they revoked that practice. It also wouldn't be news worthy I guess since it is good news, lol. 

Either way, if they are still doing it, they are VERY rarely doing it because you know the minute it happens, the person will jump on one of the forums and tell everyone about it

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Excellent point!