Amex Charge Card Prestige is OVER

[Anonymous]

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MidnightVoice wrote:
I wonder if this is on snopes.com?

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WOW we have comedian!!!

[fused]

ddd wrote:

I saw a kid get approved for a gold with a 590

This seems a bit fantastic to me! lol

[Anonymous]

If you want to know if Amex's brand prestige is over, go to the source: the American public (assuming that's your relevant market).  Perhaps try a Gallup survey of consumer households or even a focus group.  Amex marketing execs spent decades selling an image of exclusivity and prestige, and I suspect its relatively recent change in lending standards has done little to shake that image in the eye of the public (in my opinion). 

I'm not sure that there can ever be a clear resolution to this discussion, but my 2 cents is that prestige is in the eye of the beholder, i.e. it's a matter of personal opinion.  I'm sure there are many people who would agree with you ddd, especially those who have been FR'ed and/or who have received AA from Amex.  I'm sure the people who have been longing for one and the "status" it implies would disagree.  I think there must be something special (in many people's minds) about the Amex brand.  I don't think it's a coincidence that there are so many threads about it and so much buzz around all the recent members of the "Amex family." 

[Anonymous]

People are actually upset that their Amex cards don't get them wide eyed looks when they whip them out?  Sounds kind of sad to me...and not in a sympathetic type of way.  Maybe it's just me.

[Anonymous]

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lurknomore wrote:

If you want to know if Amex's brand prestige is over, go to the source: the American public (assuming that's your relevant market).  Perhaps try a Gallup survey of consumer households or even a focus group.  Amex marketing execs spent decades selling an image of exclusivity and prestige, and I suspect its relatively recent change in lending standards has done little to shake that image in the eye of the public (in my opinion). 

I'm not sure that there can ever be a clear resolution to this discussion, but my 2 cents is that prestige is in the eye of the beholder, i.e. it's a matter of personal opinion.  I'm sure there are many people who would agree with you ddd, especially those who have been FR'ed and/or who have received AA from Amex.  I'm sure the people who have been longing for one and the "status" it implies would disagree.  I think there must be something special (in many people's minds) about the Amex brand.  I don't think it's a coincidence that there are so many threads about it and so much buzz around all the recent members of the "Amex family." 

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I think this is the best post on this thread!

And I completely agree.  Yes, Amex has lowered their standards, but to the general public who doesn't spend their day reading these boards and exchanging information on who pulls which CRA and what FICO score you need, I would venture to say that Amex is just as prestigious as it ever was.

Like I said before, even my Delta Skymiles occasionally gets "Wow...American Express!" reactions from people who don't know any better.

[Red1Blue]

For many years Amex is tightly integrated. Now with so many banks issuing co-branded amex cards there are two types of amex cards. One is real and supported by Amex CSR and othesr co-branded amex supported by the issuing bank's CSR. There is a change in the market place and it will take several years to settle things down. In the mean time, I do like the conveneince of Amex Travel and other services.

[Anonymous]

It depends on where I whip my Amex out.  If it's at a snazzy downtown restaurant, no one bats an eye because they see them all day, I'm sure.  When I whip it out at Target, they get wide-eyed and ask if I want to apply for a store card.  "Membership has its privileges."   

[Red1Blue]

LOL, every time cheddar talks about his delta card, I get so jealous. I could never get that Delta Card from Amex. I guess one of these I'll get that card. Hi Cheddar, how about we trade our cards? I'll give you my platinum card  and you give me your Delta Card.

[Anonymous]

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concorduser wrote:

LOL, every time cheddar talks about his delta card, I get so jealous. I could never get that Delta Card from Amex. I guess one of these I'll get that card. Hi Cheddar, how about we trade our cards? I'll give you my platinum card  and you give me your Delta Card.

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Ummm....

Done...and.....done.

[Anonymous]

Thanks for the props, cheddar! 

I agree with you completely.  I would wager the Amex brand is not viewed (and picked apart) by the general public the way we credit hounds view it.  I get "impressed" looks quite often when I whip out my Blue, and I must admit it makes me feel a little more confident.  That may be sad or shallow, but it's true and I'm not ashamed to admit it.

I plan to get the Platinum someday as soon as I can justify the fee given my circumstances.  As a wise marketing exec once said, membership has its privileges (and I intend to take advantage of them).