Having Amex is not COMPULSORY - and why I have one

[MidnightVoice]

I see a lot of people complaining about Amex and how they work, and I freely admit they are strange.  But to be blunt, if you don't like the company, don't use their products.  It is not a requirement for survival. 

I don't need an Amex yet, but in the future I will want to have one.  I have family in the US and Europe, but currently nearly all my air fares are paid by frequent flyer miles and all my hotel bills are paid via hotel points.  However, that will change when I retire, and I will have to pay for myself.  When that happens, I want to do it via Amex, collect the rewards, and have Amex backing me up when I have problems anywhere.  When I buy another computer, I want their extended warranty and initial loss protection. 

So I got an Amex last year (Blue).  I will use it every month, I will PIF, I will tell them when I do anything out of pattern.  I am willing to do that for several years, so I have a perfect record with them and keep them happy.  I will jump through a few very minor hoops (and their CSRs are friendly, know their business and are helpful, and I never have to wait for long to talk to one) in order to establish that relationship.  I do not need an Amex to pay for a cup of coffee in the wilds of some state where the local shop is too small to take it.  I want it for regular bills and the major costs of travel.  For other stuff I have other cards, I use Amex for safe things.

I am willing to do this.  I knew their flaws before I applied, and decided the advatages were worth the trouble.  But. like any company, if you don't like their products, go to their competitors.

[haulingthescoreup]

Post of the day! (or week, or month, or year)

[smoothjk]

I understand your point, but at the same time, a big part of these boards is letting people know of potential pitfalls and mistakes associated with certain companies.

That being said, despite all the negative "press," I plan on applying for an AMEX soon. Can't wait to get these baddies resolved first =)

[haulingthescoreup]

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@smoothjk wrote:
I understand your point, but at the same time, a big part of these boards is letting people know of potential pitfalls and mistakes associated with certain companies.

That being said, despite all the negative "press," I plan on applying for an AMEX soon. Can't wait to get these baddies resolved first =)

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And that, too. I didn't mean for my post to sound dismissive of people's problems, because I'm certainly not.

I'm all in favor of pointing out the shallow sandbars and riptides of every card. We all need to be educated consumers, research the fire out of any card or company we're interested, and pay heed to what we read. Some cards need to be handled with more caution than others, and they're worth it for a long-term relationship.

[MidnightVoice]

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haulingthescoreup wrote:
I'm all in favor of pointing out the shallow sandbars and riptides of every card. We all need to be educated consumers, research the fire out of any card or company we're interested, and pay heed to what we read. Some cards need to be handled with more caution than others, and they're worth it for a long-term relationship.

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Absolutely agreed - but we need to look at both the plus and minus sides of the equation when we make our choices.  I don't want to be FR'd by Amex, but if I am I will just send in the paperwork and be done with it.  I won't be surprised - it is all part of the deal with them.  And they do not have a monoply!!

[Anonymous]

I didn't like AMEX before but after I got the Costco Amex, it is what I use for everyday purchases because of the rewards.

Only problem, mentioned in my other post, is they report a month late to the CRA.
That is something I recently learned and will watch out for in the future.

[FretlessMayhem]

I agree completely MV.

[cobra19]

I keep my 2 cards ONLY because I now have my sister as an AU - that and they also happen to be my 2 oldest account  (almost 30 years). But, since I also have 3 other cards almost as old, I'd dump them, if not for the AU thing.

I do not like AMEX. The thrill is gone.

[Anonymous]

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Solarjuju wrote:
I didn't like AMEX before but after I got the Costco Amex, it is what I use for everyday purchases because of the rewards.

Only problem, mentioned in my other post, is they report a month late to the CRA.
That is something I recently learned and will watch out for in the future.

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Does the Costco Amex actually report as Amex? I thought it reported and was handled through the card issuing bank? Thus, you would not be entitled to a lof the benefits with exception to the actual cards rewards program. Is that correct? I'm still trying to figure out the difference.

[Anonymous]

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UpUpUp wrote:

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Solarjuju wrote:
I didn't like AMEX before but after I got the Costco Amex, it is what I use for everyday purchases because of the rewards.

Only problem, mentioned in my other post, is they report a month late to the CRA.
That is something I recently learned and will watch out for in the future.

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Does the Costco Amex actually report as Amex? I thought it reported and was handled through the card issuing bank? Thus, you would not be entitled to a lof the benefits with exception to the actual cards rewards program. Is that correct? I'm still trying to figure out the difference.

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The Costco Amex is issued by Amex the bank, so yes, it reports as Amex.

FWIW, the Amex benefits like purchase protections and extended warranty coverage apply to any card that uses the Amex network and carries the Amex logo, even those issued by other banks.

Message Edited by cheddar on 07-25-2008 09:58 AM