Re: Did American Express officially pull the plug on the Zync card??[ Edited ]
10-14-2012 10:57 PM - edited 10-14-2012 10:59 PM
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
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
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.
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