Link2k wrote:
webhopper wrote:
Yes. Plug is pulled. I can only assume that it was unprofitable.
More likely this card was the one cited in age discrimination. It wad pulled within a week of this CFPB decision and I didn't see anything from Amex that would lead me to believe the card was not profitable.
http://consumerist.com/2012/10/01/american-express-to-pay-out-85-million-to-customers-for-variety-of ...
The actual text of the finding is as follows:
Discrimination on the Basis of Age. Between February and October 2010, AECB
used a partially implemented age-split score card that functioned as an improper second look for
card applicants age 35 years old and under in violation ofECOA and Regulation B ("Staged
Age-Split Scorecard").
It doesn't make much sense to cancel a product because of infringements from 2 years ago assuming that the card is still profitable going forward, and presumably with the end-date found by the investigation, the issue had already been remediated.
I think it's as Trumpet suggests, and that the experiment just didn't work out for whatever reason.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)Current Score: EQ 660, Wally TU 697, EX unknown (05/13/13)
Goal Score: 680 in all three (01/01/14)
Take the FICO Fitness Challenge
