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This makes me not want an AMEX....

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Dustink
Valued Contributor

Re: This makes me not want an AMEX....


@jcstarkey8826 wrote:

@dude11 wrote:

People here seem to put some banks or credit card companies on a pedestal such as Amex. At the end of the day you have to remember they are all the same. GREEDY!


Indeed. I can't say I wouldnt do business with them because of this. It does make me think twice about it though. Only because I was already  on the fence. If I could clearly see the value of an AMEX I would get one in the future, but not seeing the value and companies that get fined that heavily... i'll stay away for now. I've worked for banks that have been fined heavily and was able to witness their greedy ways. Many people will love the product and company, while many will be in another boat. I just choose what makes sense to me and hope for the best haha


Amex offers some good cards with no AF's, such as the HHonors card, blue sky card, blue cash, and costco.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 11 of 15
Dustink
Valued Contributor

Re: This makes me not want an AMEX....


@dude11 wrote:

People here seem to put some banks or credit card companies on a pedestal such as Amex. At the end of the day you have to remember they are all the same. GREEDY!


I find a card that pays more then merchant fee's and I stick with it. I have never paid the bank any fee's or interest charges. At the end of the day, I am a deadbeat to them. They still offer me great customer service, they probably just hope that one day I open a mortgage or something long those lines with them.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 12 of 15
Kidcat
Established Contributor

Re: This makes me not want an AMEX....

This will have an impact on their so called blacklist as according to the agreement they will have to make pre-approval offers to certain customers who were denied credit based on a long overdue debt. Interesting indeed....




Last app 09/21/2021. Gardening Goal Oct 2023
Message 13 of 15
sjt
Senior Contributor

Re: This makes me not want an AMEX....


@Sladyesq wrote:

This will have an impact on their so called blacklist as according to the agreement they will have to make pre-approval offers to certain customers who were denied credit based on a long overdue debt. Interesting indeed....


It will not really have an impact on their "Black List" at all. What Amex will have to do in the future is to state that a settlement of debt for less then the balace owed may impact futire credit decisions with Amex.

 

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 14 of 15
maiden_girl
Valued Contributor

Re: This makes me not want an AMEX....


@Duncanrr wrote:

Also, don't forget the recent Wells Fargo settlement for alleged racial discrimination.

 

http://www.nytimes.com/2012/07/13/business/wells-fargo-to-settle-mortgage-discrimination-charges.htm...

 

 

I imagine that these types of stories are just one reason why FICO  scores were invented.  While not condoning these actions, discrimination occurs everyday.  Unless its a pattern or practice of behavior on the part of the lender then I'll not hold it against them.  AMEX and WF have both been good to me so far.  I have heard horror stories from others (close friend had a disaster of a loan closing on his house with WF) but I'll try not to judge a lending institution on the basis of a few bad actors.


I NEVER KNEW THAT ABOUT WELLS FARGO! Will not be banking with them now or in future. That is just wrongg!

 

As of 2017, rebuilding...
Message 15 of 15
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