American Express

[IncrsCreditScore1]

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@JSS3 wrote:
I'd like to see American Express fall. They need to be humbled.

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Why?

[Anonymous]

AMEX is ironic.  I burned them on a $1000 optima card in 1992 in ch 7 bankruptcy, then I got a green card with them in 2013 that they backdated to1991.  They denied me an everyday card in 2014 but gave it to me a year later with a $15K SL.  By then there was no backdating.  I changed the green to senior gold early last year then canceled it after getting the everyday card to avoid the AF.  This was suggested by an AMEX customer service rep.  My credit score dropped to 667 and I tried to get the card back but was denied.  After hours on the phone I was finally able to get the card back and its history last August.  My score went up to 685 (exp) and 706 (TU).  The AF will go up to $65 but I have received close to that amount already in AMEX cash back offers.   If my experience is any example, AMEX should look more closely as to how they operate, but I have benefited from a credit standpoint.  I always PIF now and have had no problems with them since getting both cards.  I even used the everday for a $1500 balance transfer and paid it off within a couple of months.  I got the 10K MR points bonus and booked a flight on AMEX travel.  I also received the select and pay over time option on the gold card-up to $35K at 18.5%.  So that's my AMEX story.  I hope they straighten themselves out.  They've been good to me.

[takeshi74]

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@SEBanker wrote:

I'm simply pointing out the trends. Not making predictions.

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Most of your statements are about the future of AmEx.  Those are predictions by deinifition.  If you solely focused on past performance then you'd be just pointing  out the trends.

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@Anonymous wrote:

I really *want* to like and use them but their products just don't make a lot of sense for me.  I don't travel.

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Why would you want to if they don't?  You don't have to travel -- not all their products are travel oriented.

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@Anonymous wrote:

So for a cash back card I chose BCE of course.  But mostly I just burn them with Amex offers.  They don't make much (if any) money from me.

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You're not burning them unless you're not paying them at all. The house is set up to make money.

[SEBanker]

http://www.reuters.com/article/us-american-express-m-a-stocks-idUSKCN0W92CW

As I mentioned in January the company could be in play. 

[I-think-I-can]

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@SEBanker wrote:

http://www.reuters.com/article/us-american-express-m-a-stocks-idUSKCN0W92CW

As I mentioned in January the company could be in play. 

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Oh wow!  This is very interesting!! I wonder what the effect of different leadership would be?  I will be watching for sure.

[Josh611]

The report even said the rumors weren't true lol