Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008
Re: MY GOAL: Get The AmEx Centurion Card - MY PLAN: read in article

DI wrote:



In the recent years, I think AmEx implemented certain changes in order to minimize the risk of account defaults. For example, my uncles account was closed because he used his card at Wal-Mart one day. They said that people who use AmEx cards in that establishment have a higher rate of defaulting on their accounts. AmEx basically tracks everything you buy, analyzes the information, and compares it to statistical data. Nowadays, many institutions are using such methods, especially the auto insurance industry. In a way, I think it is not just. Everyone should be judged independently instead of putting them in groups. I guess they don't have the means to know everything about the people, so they generalize. An example: women in general, pay less than men for auto insurance. 


I'm glad you mentioned the Wal-Mart situation.  I always suspected AMEX would do something like that.  I posted something about that about 3 months ago.


I rarely go to Walmart (mostly when visiting relatives in rural areas where for certain things they are unfortunately the only option because they killed off so many local stores and the alternative would be driving to the nearest medium-size city); I've never had adverse action as a result of shopping there but I have been called by the Security departments of several credit card companies to verify that Walmart purchases actually were mine.  So in my case it would seem their computers don't consider me high risk from an occasional Walmart purchase but they do consider going to Walmart to be outside my usual pattern.


TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
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