Amex overrated?

[Anonymous]

I've been lurking around the forums lately and reading and thinking a lot about Amex cards and how they may one day fit into my credit portfolio. I guess at this point, based on what I've read, I'm just not sold.

It seems to me that, for the very rich with $100,000+ credit lines and Centurion cards, there are a lot of benefits to being in Amex's good graces. But for everyone else it's just another credit card whose issuer is a petulant child, with seemingly random credit line decreases that come out of nowhere and financial reviews that border on privacy invasion. On top of that, Amex's acceptance rate by merchants is spotty.

So for those who love Amex and are Amex supporters, what am I missing?

[myjourney]

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@Anonymous wrote:

I've been lurking around the forums lately and reading and thinking a lot about Amex cards and how they may one day fit into my credit portfolio. I guess at this point, based on what I've read, I'm just not sold.

It seems to me that, for the very rich with $100,000+ credit lines and Centurion cards, there are a lot of benefits to being in Amex's good graces. But for everyone else it's just another credit card whose issuer is a petulant child, with seemingly random credit line decreases that come out of nowhere and financial reviews that border on privacy invasion. On top of that, Amex's acceptance rate by merchants is spotty.

So for those who love Amex and are Amex supporters, what am I missing?

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Growth

Another network

3X CLI's 

Customer dispute satisfaction

Backdating 

[Luscher]

id agree with the op. but id also agree with my journey. i love my chase card more than my amex card. but its easier to get cli's and growth with amex without really doing much. oh and backdating. UR points are worth way more to me though than what amex has to offer

[myjourney]

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@Luscher wrote:
id agree with the op. but id also agree with my journey. i love my chase card more than my amex card. but its easier to get cli's and growth with amex without really doing much. oh and backdating. UR points are worth way more to me though than what amex has to offer

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Agreed

[Luscher]

i really only added the amex for the exact reasons my journey wrote. 

[FinStar]

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@myjourney wrote:

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@Anonymous wrote:

I've been lurking around the forums lately and reading and thinking a lot about Amex cards and how they may one day fit into my credit portfolio. I guess at this point, based on what I've read, I'm just not sold.

It seems to me that, for the very rich with $100,000+ credit lines and Centurion cards, there are a lot of benefits to being in Amex's good graces. But for everyone else it's just another credit card whose issuer is a petulant child, with seemingly random credit line decreases that come out of nowhere and financial reviews that border on privacy invasion. On top of that, Amex's acceptance rate by merchants is spotty.

So for those who love Amex and are Amex supporters, what am I missing?

---

Growth

Another network

3X CLI's 

Customer dispute satisfaction

Backdating 

---

+1

OP - different strokes for different folks.  Not sure about AMEX being overrated but to each their own.  Different payment networks/CCs work and provide an array of benefits/perks for various individuals.

[Anonymous]

Backdating
&
3XCLI

Amex also took me in before Chase so I'll gladly do business with them.

[OnTheRebound]

I only understand Cash Back. In that regard, the BCP is , in my opinion, unmatched. The charge cards are worthless to me.

However, if a different institution came up with a better cash back card, I would switch in a heartbeat.

Till then I will stick with Amex.

[09Lexie]

To each is own that's true. For me, I have never experienced poor customer service with Amex. I've been fortunate to not have to deal with the 'privacy issue'. I have experienced CLD from other lenders in my 35+ years of credit and they were without warning, I much rather have been notified and given an opportunity to recoup my CL.

When I received my first Amex it was the Green, I received it during my junior year at UCLA and I was barely making $7500 a year. The backdating alone is a perk for me. My paid mortgage will be falling off my cr next year but I will not lose my AAOA because of Amex.

I also love my Chase cards but if I were to close them today and apply a few years from now- that history will be lost.

[Luscher]

lol this thread is going to have a million posts by tomorrow because people LOVE AMEX