@Anonymous wrote:AMEX might as well just label the card as a revolver and put down an interest rate instead of saying, "no interest because you pay your balances in full every month."
The charge cards are classics and AMEX should keep it the way it's been in order to use them for marketing purposes. People who still want the feeling of old fashioned AMEX should be able to get a charge card and be able to use it as it was originally intended... But these cards now appear as less prestigous and classic now that you're able to pay over time. Of course AMEX doesn't have to give a pay over time feature to any cardholder... They just make it look like a card for a person with a below average income by letting people pay over time rather than for those who have an income well above what the average American makes per year. AMEX showing more flexibility than ever makes them look less prestigous, and it's both embarassing for them, and also disappointing for some of us.
I don't know, I guess I'm just caught up in the old fashioned thing, and you do make a good points about collecting interest from cardholders. I like to see a premium company in every category of item, and AMEX has slipped quite a bit since the old days.
Of course everyone is entitled to their own opinion, so let's not go down the road of who's right and wrong here.
(Reply was to takeshi74, sorry quote box is giving me a hard time tonight).
I never think more or less of anyone depending on what card I see them take out of their wallet.
"They just make it look like a card for a person with a below average income by letting people pay over time"
Maybe this is just a reflection of your mindset more than anything. There are people that make WAY more money than me paying with Quicksilver or whatever other Mastercard/Visa they have in their wallet and can afford more than I can even though I am paying almost exclusively with a gold card.
You also have to take into account that the upper middle class is dissapearing and financial companies have to move to address that.
@Anonymous wrote:AMEX might as well just label the card as a revolver and put down an interest rate instead of saying, "no interest because you pay your balances in full every month."
The charge cards are classics and AMEX should keep it the way it's been in order to use them for marketing purposes. People who still want the feeling of old fashioned AMEX should be able to get a charge card and be able to use it as it was originally intended... But these cards now appear as less prestigous and classic now that you're able to pay over time. Of course AMEX doesn't have to give a pay over time feature to any cardholder... They just make it look like a card for a person with a below average income by letting people pay over time rather than for those who have an income well above what the average American makes per year. AMEX showing more flexibility than ever makes them look less prestigous, and it's both embarassing for them, and also disappointing for some of us.
I don't know, I guess I'm just caught up in the old fashioned thing, and you do make a good points about collecting interest from cardholders. I like to see a premium company in every category of item, and AMEX has slipped quite a bit since the old days.
Of course everyone is entitled to their own opinion, so let's not go down the road of who's right and wrong here.
(Reply was to takeshi74, sorry quote box is giving me a hard time tonight).
Actually, I think POT is aimed at people with some of your "old fashioned" beliefs. These are people who have ONLY Amex charge and are unaware that Amex also offers credit cards. To them, adding POT isn't a down-market move, just a nice addition (which may never get used) to an outstanding product. And, as said, if they DO use it, Amex is happy!
@Anonymous wrote:AMEX might as well just label the card as a revolver and put down an interest rate instead of saying, "no interest because you pay your balances in full every month."
The charge cards are classics and AMEX should keep it the way it's been in order to use them for marketing purposes. People who still want the feeling of old fashioned AMEX should be able to get a charge card and be able to use it as it was originally intended... But these cards now appear as less prestigous and classic now that you're able to pay over time. Of course AMEX doesn't have to give a pay over time feature to any cardholder... They just make it look like a card for a person with a below average income by letting people pay over time rather than for those who have an income well above what the average American makes per year. AMEX showing more flexibility than ever makes them look less prestigous, and it's both embarassing for them, and also disappointing for some of us.
I don't know, I guess I'm just caught up in the old fashioned thing, and you do make a good points about collecting interest from cardholders. I like to see a premium company in every category of item, and AMEX has slipped quite a bit since the old days.
Of course everyone is entitled to their own opinion, so let's not go down the road of who's right and wrong here.
(Reply was to takeshi74, sorry quote box is giving me a hard time tonight).
Amex is all about getting their cards swiped, they have the highest merchant charges in the industry and if they can get some interest from their cardholders who want this all the power to them. As for prestige, I never thought so, travel and perks always came first.
Everyone tries to compete with Plat but they end up nerfing their perks later on, i.e. citi prestige. Now Chase is taking a shot with Reserve and already underwhelming out of the box thus far, we shall see.
@Anonymous wrote:At Wholefoods over the weekend, the person ahead of me had a bill of $405. She paid with a debit card. Which I thought was silly but then remembered even with a BCP that's only $24, which for many really isn't worth an effort of complicating your life.
Thanks for complicating my life. 
$405, at the max grocery return of 4.5 MR points per dollar is 1,822 points. At 1c per point, $18.22, at 3c per point $54.
What is your calculation to $24? $405 at 3 points at 2c per point?
@NRB525 wrote:
@Anonymous wrote:At Wholefoods over the weekend, the person ahead of me had a bill of $405. She paid with a debit card. Which I thought was silly but then remembered even with a BCP that's only $24, which for many really isn't worth an effort of complicating your life.
Thanks for complicating my life.
$405, at the max grocery return of 4.5 MR points per dollar is 1,822 points. At 1c per point, $18.22, at 3c per point $54.
What is your calculation to $24? $405 at 3 points at 2c per point?
$405 x 6% on groceries on a BCP = $24
BCP is a 6% grocery card - you are thinking of another card
@NRB525 wrote:
@Anonymous wrote:At Wholefoods over the weekend, the person ahead of me had a bill of $405. She paid with a debit card. Which I thought was silly but then remembered even with a BCP that's only $24, which for many really isn't worth an effort of complicating your life.
Thanks for complicating my life.
$405, at the max grocery return of 4.5 MR points per dollar is 1,822 points. At 1c per point, $18.22, at 3c per point $54.
What is your calculation to $24? $405 at 3 points at 2c per point?
Note the reference to BCP, and that should answer your question!