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How bad will it get for American Express?

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Anonymous
Not applicable

How bad will it get for American Express?

Message 1 of 16
15 REPLIES 15
pipeguy
Senior Contributor

Re: How bad will it get for American Express?

Great article (I'm not a fan of AmEx), thanks for posting it !

Message 2 of 16
Open123
Super Contributor

Re: How bad will it get for American Express?

As a business person, I really like Costco's philosophy, "cut the song and dance, just give me the price."

Message 3 of 16
mitchblue
Valued Contributor

Re: How bad will it get for American Express?

The article seems to make more fun the fact Amex people have masters degrees. Like it's a crime. 

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 4 of 16
Anonymous
Not applicable

Re: How bad will it get for American Express?


@Open123 wrote:

As a business person, I really like Costco's philosophy, "cut the song and dance, just give me the price."


I agree... This is the exact opinion of people on blogs.  

Message 5 of 16
Anonymous
Not applicable

Re: How bad will it get for American Express?


@pipeguy wrote:

Great article (I'm not a fan of AmEx), thanks for posting it !


You are welcome!!

Message 6 of 16
Anonymous
Not applicable

Re: How bad will it get for American Express?


@mitchblue wrote:

The article seems to make more fun the fact Amex people have masters degrees. Like it's a crime. 


Hmm, I didn't interpret the reading that way.  I understood it as a disconnect between people at Amex and the people in the trenches - stocking shelves you know..

Message 7 of 16
Revelate
Moderator Emeritus

Re: How bad will it get for American Express?


@Anonymous wrote:

@mitchblue wrote:

The article seems to make more fun the fact Amex people have masters degrees. Like it's a crime. 


Hmm, I didn't interpret the reading that way.  I understood it as a disconnect between people at Amex and the people in the trenches - stocking shelves you know..


I don't think that's intrinsic to Amex, seen in various forms all over American culture.

 

Anyway interesting article, thank you for posting it!




        
Message 8 of 16
EW800
Valued Contributor

Re: How bad will it get for American Express?

Very interesting read.  Thank you!

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2024: EX8: 839; EQ8: 845; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 9 of 16
Gunnar419
Valued Contributor

Re: How bad will it get for American Express?


@Anonymous wrote:

@mitchblue wrote:

The article seems to make more fun the fact Amex people have masters degrees. Like it's a crime. 


Hmm, I didn't interpret the reading that way.  I understood it as a disconnect between people at Amex and the people in the trenches - stocking shelves you know..


Yes, same here. If the article is correct, Amex takes its image of exclusivity in a deeply personal way, down to the bones of its corporate culture. Major culture clash between that and the upstart, bare bones culture of Costco.

 

I also wouldn't be surprised if part of the culture clash is east vs west, urbanite vs suburban-rural west. Manhattan tends to view itself as the center of the civilized and monied world and Manhattanites (no offsense to those here) sometimes act as if the rest of the country is populated by the Beverly Hillbillies. Issaquah, WA, where Costco is headquartered, is a humble suburb in the foothills of the Cascades, near Seattle but not exactly on the beaten path. To people used to Wall Street and Broadway, it's downright quaint. Probably all this lends itself in some way to Amex's disrespect for Costco and Costco's lack of interest in pursuing Amex to the very end to keep the relationship.

 

Interesting article! Thanks!

Message 10 of 16
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