Credit AMA. Get your questions answered live my an Amex employee - Pooka89 [Ask Me Anything Session]

[CreditCuriosity]

@Pooka89

I just wanted to thank you vs. really asking any questions as you have been a great help to this forum in answering peoples questions over I believe the last year or so that I have noticed your post w/regards to AMEX.  You have given very good advise and answers and there is no better way to hear answers that through someone that works for the company and is knowledgeable.  Thank you for taking the time to do this along with your ongoing effort if clarifying peoples questions that come up on this forum!

[Anonymous]

What is the definition of a relationship bank?

[Anonymous]

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@Anonymous wrote:

Q: Is there any discussion as to the evolution of American Express charge cards allowing folks to revolve a balance?

Also, why has there been a steady decline in permanent APR reductions, and a steady increase in promotional 6-12 month 0% or 6.99% offers?

Are there any product rumors you are able to talk about?

A: Hello! There is no discussion at this time beyond the existing Pay Over Time features offered to some Charge products. Our business model is a little different from other banks in that we do not focus on earning income from finance charges, but we instead focus on the revenue earned from the volume of charges on an account. I would imagine that there is unlikely any change coming that would allow a more traditional revolving feature on our Charge products.

As for why we have started moving toward promotional APRs, that's something that isn't communicated to customer service so I'm not able to speculate as to why. We have seen it too - but have no explanation. Customer service pretty much just activates whatever lower APR offer has been loaded onto the account by Account Services.

I'm not able to discuss any new products or enhancements at this time.

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Has that been always the model or is that new? - See blue. If so, why is Amex aggressively promoting personal loans if the focus is not on finance chanrges......

[Anonymous]

Pooka, I pay my Amex BCP in full each month, and I've had the card for 14 or 15 months and PIF each month.  Usually, I pay in full the same day a charge is made. If one month I decided to carry over a $100 or $200 balance, would it spike an odd algorithm in the Amex system and create extra attention to my account?

Not concerned about it; just trying to understand how these system algorithms work.. Thank you!

[Anonymous]

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@CreditCuriousity wrote:

@Anonymous

I just wanted to thank you vs. really asking any questions as you have been a great help to this forum in answering peoples questions over I believe the last year or so that I have noticed your post w/regards to AMEX.  You have given very good advise and answers and there is nothing better way to hear answers that through someone that works for the company and is knowledgeable.  Thank you for taking the time to do this along with your ongoing effort if clarifying peoples questions that come up on this forum!

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Agree fully with CC. We absolutely appreciate you, pooka!

[Anonymous]

Q: Pooka89,

Do "premium card holders" like platinum and centurion memebers get better customer service or treatment compared to other Amex account holders? Since many on the forum has mentioned the underwriting and requirements for all charge cards are the same. Do you know since working for Amex if Amex as a company truly values platinum card members on another level? Is it considered a top of a like Amex card or is it more so all cards are equal just whatever fits you best type of thing. Is there an actual card ranking? Also, do you see new benefits being added to the plat card to compete with the CSR in the future or Amex rolling out an entirely diff product instead? Thanks.

A: Hello there. While we certainly strive to provide the best customer service to all Card Members, regardless of their card type, Platinum and Centurion do have their own dedicated servicing teams and they are either more specialised in those products and benefits, and/or they have "graduated" their servicing tiers to those teams. I would not say that credit-wise, we play favourites when it comes to making credit-related decisions (with the exception of Centuion since we have thoroughly inspected them already). The card rankings are as you typically see posted - Green > Gold > Platinum > Centurion. Our lending cards (blue, everyday, co-brand, etc.) are pretty much all on the same level. As for new products or enhancements, I'm unable to discuss that until an official announcement is made.

[Anonymous]

Q: Can a customer service representative not see I was declined for a limit increase? When I asked when I could try again She said I was eligible right now.

A: While customer service can technically see your recent requests and outcome, that is in a separate credit system which most customer care professionals are not familiar with. For specific timing questions like yours, I usually suggest asking to speak with the credit line department. They can give you the exact dates (though I personally recommend adding a day those quotes as our system can be silly sometimes).

[Anonymous]

Q: @Pooka89

I just wanted to thank you vs. really asking any questions as you have been a great help to this forum in answering peoples questions over I believe the last year or so that I have noticed your post w/regards to AMEX.  You have given very good advise and answers and there is no better way to hear answers that through someone that works for the company and is knowledgeable.  Thank you for taking the time to do this along with your ongoing effort if clarifying peoples questions that come up on this forum!

A: It's my sincerest pleasure. Thank you :-)

[CreditCuriosity]

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@Anonymous wrote:

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@Anonymous wrote:

Q: Is there any discussion as to the evolution of American Express charge cards allowing folks to revolve a balance?

Also, why has there been a steady decline in permanent APR reductions, and a steady increase in promotional 6-12 month 0% or 6.99% offers?

Are there any product rumors you are able to talk about?

A: Hello! There is no discussion at this time beyond the existing Pay Over Time features offered to some Charge products. Our business model is a little different from other banks in that we do not focus on earning income from finance charges, but we instead focus on the revenue earned from the volume of charges on an account. I would imagine that there is unlikely any change coming that would allow a more traditional revolving feature on our Charge products.

As for why we have started moving toward promotional APRs, that's something that isn't communicated to customer service so I'm not able to speculate as to why. We have seen it too - but have no explanation. Customer service pretty much just activates whatever lower APR offer has been loaded onto the account by Account Services.

I'm not able to discuss any new products or enhancements at this time.

---

Has that been always the model or is that new? - See blue. If so, why is Amex aggressively promoting personal loans if the focus is not on finance chanrges......

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This leads me to ask the following question..  People on this forum tend to think AMEX hates people that carry balances.  Can you either validate this claim or put it to rest and say it is ok to carry a balance with Amex?  I personally don't think it matter if you carry a balance on an Amex revolver card and aren't frowned upon as AMEX is just making more money.   With that said if AMEX doesn't see the balance being paid off aka minimum payment, that is probably looked upon badly as alot of us know on MyFico.   Or other trends being peoples debt going up with Amex among other creditors that can cause AA/4506-T requests, etc.  

[Anonymous]

Q: What is the definition of a relationship bank?

A: Well I'm not sure exactly what the definition is, but when I mention it, we are talking about your overall relationship with us. How long you have been a card member, how much you use our card in relation to the other cards that you have, how many times you may have called and asked for a goodwill credit or bonus points, your payment history, how many American Express cards you have, etc. We really value your relationship with us rather than just being another piece of plastic in your wallet (or, what makes us cry a little, in your sock drawer).