hmm...do I want to be a Morlock or an Eloi? decisions, decisions....

FTA: "Johnson checked his charges to try to figure out what might have raised a red flag in the American Express data-mining model. He didn't see anything but typical transactions, including purchases at Amazon, Ruby Tuesday, Wal-Mart, Starbucks and Federal Express."

Duh. It was Wal-Mart. I came in here to say I bet Wal-Mart is the biggest weed out term.

cambie: Duh. It was Wal-Mart. I came in here to say I bet Wal-Mart is the biggest weed out term.

Starbucks. Nothing says "I'm completely moronic in my financial decisions" like spending five bucks on a cup of joe.

I must confess that the racist in me expected to see reference to Popeye's Chicken.

The NAACP class-action 'new-asshole team' gets rolling in 3... 2...

dahmers love zombie: cambie: Duh. It was Wal-Mart. I came in here to say I bet Wal-Mart is the biggest weed out term.

Starbucks. Nothing says "I'm completely moronic in my financial decisions" like spending five bucks on a cup of joe.

Normally I'm in agreement. However, in the Pumpkin Spice flavor category, no one comes close to Starbucks in taste. On the plus side it's only $3 and change for a large I think.

So what is the problem with this? It's not like credit is a fundamental human right. Card companies can profile in almost any way (within non-discrimination laws) to make money, and maintain good credit risks.

After all, giving credit to people that couldn't pay is a large part of why our economy is in the shiathole. So we start biatching when they start being more selective about who they are lending to?

This is just whining crap.

And-1:
This is just whining crap.

No, it's social engineering. If you start destroying the credit ratings of people who purchase goods or services you don't like then sooner or later people are going to stop purchasing those goods/services. So where's the problem? ok, well - how about if the recording industry convinced the credit companies/banks to destroy the credit rating of anyone who purchases legitimate downloads? say....from iTunes or Amazon for example. Starting to see why this is a bad precedent to set?

Dude, they found out you're black.

All of a sudden, AMEX won't accept my paypal and woot transactions. I had to change cards.

The problem with this sort of thing is that the decision is made by somebody in an office somewhere who thinks there will be no consequences. That can be changed.

"yo mo fo!"

Thats "American Express Bank" to you, sir.


/New and improved future bailout name.

People still use AmEx?

This will all change soon...hopefully. I like Amex generally, but any company that pulls shiatt like this is in an inverted business model. Your customers are core to your business. If someone is paying on time and always has...there is no reason for penalizing them.

/guess who is going to ask for a bail out next?

Willie Mayes-Hayes does not approve.

/too lazy to post photo

I really wonder how these companies decide whose mailboxes to flood with invitations? I got so many AmEx "invitations" I finally thought about it and it seemed like a good deal compared to the card I have now. So I call them, and they offer to approve me over the phone. So they ask me a bunch of questions, one of which is "what is your income?". Of course, since I am in med school the answer is -zero-. Actually, negative because of loans. So they deny me. Which might make sense, but then again I doubt we're really a high risk group, plus we're all gonna have good jobs someday. But whatever, I'm not mad about it. I just want to know WHY DID I GET ANOTHER OFFER IN THE MAIL A WEEK LATER!?

Weaver95: If you start destroying the credit ratings of people who purchase goods or services you don't like then sooner or later people are going to stop purchasing those goods/services.

Very slippery. Some of my cards try to steer me to certain vendors. 10% cashback (kickback) at TigerDirect if I use my Discover. Playing both ends (and if you *do* shop at NewEgg... that might be a bad idea) is ominous. Possibly even worse, from the article:

and whether the customer owns a home in an area where housing prices are declining.

So, yeah. If you live in neighborhood X, you won't be able to get credit cards. I'm sure *that's* going to help property values there.

rodeofrog: I must confess that the racist in me expected to see reference to Popeye's Chicken.
Here ya go.
KFC=white folks
Popeye's=black folks (keep card)

Cancel the card.

Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.

Now I know I made the right choice. A few months ago I got a letter from AmEx saying I'd made it and I should get one of their cards. I tossed it in the trash. Fark them.

startan3: People still use AmEx?

A lot of small business people prefer AmEx for their business card.

startan3: People still use AmEx?

Not if I can help it. But my company does not allow any business charges unless it goes on my corp card. I'd certainly never use them for my own credit.

I know they just passed legislation that would require CC companies to give something like 45 days notice to any rate changes. It's been a big problem, they've been raising rates on people who have never made a late payment, but may have other problems on their credit report. But they have till 2010 to put the changes into effect, because of the extensive changes that need to be made to their computers....I.E. they don't want to do it.

Link (new window)

cambie: FTA: "Johnson checked his charges to try to figure out what might have raised a red flag in the American Express data-mining model. He didn't see anything but typical transactions, including purchases at Amazon, Ruby Tuesday, Wal-Mart, Starbucks and Federal Express."

Duh. It was Wal-Mart. I came in here to say I bet Wal-Mart is the biggest weed out term.

I bet it was the Ruby Tuesday charges. Nothing says I am an unemployed lazy drunk like eating at Ruby Tuesdays.

Weaver95: And-1:
This is just whining crap.

No, it's social engineering. If you start destroying the credit ratings of people who purchase goods or services you don't like then sooner or later people are going to stop purchasing those goods/services. So where's the problem? ok, well - how about if the recording industry convinced the credit companies/banks to destroy the credit rating of anyone who purchases legitimate downloads? say....from iTunes or Amazon for example. Starting to see why this is a bad precedent to set?

No. If it is profitable to extend credit to you, someone will. If it isn't, no one should.

RottNDude: Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.

Just out of curiosity, why would you not be liable for a debt you incurred, even if it is 12 years old?

cambie: Duh. It was Wal-Mart KFC. I came in here to say I bet Wal-Mart KFC is the biggest weed out term.

FTFY

/rimshot

Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

skinink: Big deal. This problem is nothing compared to the Universal Default issue and the huge fees the credit card companies use against consumers, among other things. Not to mention those damn checks for cash they always send you, which has the higher interest rates than normal charges and are the last thing to ever be paid off of your bill.
Maybe a reduction of credit isn't so bad, especially if it's Amex.

Next on the agenda is increasing your interest rate and payments based on where you shop. On the same logic as universal default.

RottNDude: Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.


Stay classy.

The reason this is troubling is that your CC company knows a *hell* of a lot more about you than any other business you work with.

/ I see three charges to "Obama for America".
// Confess quickly! If you hold out too long you could jeopardize your credit rating.

liberalish: RottNDude: Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.

Just out of curiosity, why would you not be liable for a debt you incurred, even if it is 12 years old?

Statute of limitations is one possibility.

Little One-Eyed Wench: RottNDude: Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.


Stay classy.

It is classy, if in fact he has a valid claim under the FCRA. Credit card companies show no mercy. Consumers should return the favor.

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...


Yeh, the US has debit cards, which is tied to the money in your bank account.

Credit cards also give you points, which can be applied to goods, services or cash depending on the particular program -- so they give you something back besides just charging you interest.

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

We have debit cards over here, and they're approaching 50% of face-to-face transactions. But, directly at least, we don't pay anything to put it on credit for 30 or 40 days. In reality, the shopkeeper pays a 3% to 4% fee to accept a credit card (but he isn't allowed to pass it on), so all prices are inflated by 2% or so to allow some people to put it on credit.

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

Yes, debit cards. I have learned my lesson using credit cards and I refuse to buy something I can't pay for with my own money.

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

Many Americans have debit cards nowadays (credit cards that withdraw funds from your bank).

jso2897: Weaver95: And-1:
This is just whining crap.

No, it's social engineering. If you start destroying the credit ratings of people who purchase goods or services you don't like then sooner or later people are going to stop purchasing those goods/services. So where's the problem? ok, well - how about if the recording industry convinced the credit companies/banks to destroy the credit rating of anyone who purchases legitimate downloads? say....from iTunes or Amazon for example. Starting to see why this is a bad precedent to set?

No. If it is profitable to extend credit to you, someone will. If it isn't, no one should.

That seems logical, but with banking and credit more centralized into fewer and fewer companies, a few dumbasses with money can get you by the short and curlies pretty quick, if they act in a herd (which they tend to do). My credit was wrecked by some dumbass mistakes by a credit agency that took me months to straighten out. At least in that case, they had reason to believe I was a deadbeat. They are punishing this guy for shopping in the same store with deadbeats. How stupid is that?

As for the earlier posting:
And-1:
After all, giving credit to people that couldn't pay is a large part of why our economy is in the shiathole. So we start biatching when they start being more selective about who they are lending to?

This is just whining crap.

Remember that nobody forced credit card companies to mail out applications to every carbon based life form in the world for years. They sent out a lot of credit cards to deadbeats, figuring on some calculated numbers of losses. They have nobody to blame but themselves. Then they start overcorrecting by pulling this crap. I hope this guy cuts up his card and tells AmEx to piss up a rope.

My guess would be the Starbucks charge.


/even people without AmEx can pay cash for coffee.

zvoidx: DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...


Yeh, the US has debit cards, which is tied to the money in your bank account.

Credit cards also give you points, which can be applied to goods, services or cash depending on the particular program -- so they give you something back besides just charging you interest.

Thanks for the explanation, I always wondered...Still seems like a hoax of sorts, though

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

Yes, we have those. Most banks and major credit card companies offer those.

DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...

Its called a debit card over here and yes they exist. Its just that the American economy depends on individuals making rash and economically unsound choices (ie use money they DONT have). Its all about getting individuals to buy stuff NOW and not think about the consequences, which usually involve long term debt. Welcome to the freedom land, would you like fries with that?

DeRosso: zvoidx: DeRosso: Ok, I have never understood why people buy things with credit cards like AmEx or Mastercard.

Here in Denmark most people use something called Dankort (Dencard in english, I suppose) combined with a Visa card. This (bastard) card just draws the money out of your bank account - i.e. money you ALREADY HAVE.

Is it impossible to do the same in the US? It seems so bloody stupid paying extra for paying with plastic...


Yeh, the US has debit cards, which is tied to the money in your bank account.

Credit cards also give you points, which can be applied to goods, services or cash depending on the particular program -- so they give you something back besides just charging you interest.

Thanks for the explanation, I always wondered...Still seems like a hoax of sorts, though

To clarify, you don't pay any interest if you make the payment to the card company in full before the due date.

RottNDude: Amex is farked to the point of violating the FCRA by trying to collect on a 12 year old debt I incurred while a stupid college student. Even better, they're "inviting" me to settle it for 60% of the original amount. I'm just going to sue them for an FCRA violation instead.

If you are stupid, you don't have to pay? Sweet!

As an Amex customer I am unsure where all the amex hate came from in this thread. they have been by far and away the best cc company I have had.

jso2897: No. If it is profitable to extend credit to you, someone will. If it isn't, no one should.

Read the article:

"Along with studying shopping habits, American Express considers which mortgage lender a customer uses and whether the customer owns a home in an area where housing prices are declining."

So if I just happen to own a home in an area with a lot of forclosures then i'm out of luck. EVEN if I pay my bills on time and live within my means my credit rating suffers because my neighbors buggered up and lost their house.

How does this jibe with your 'hey, if you did't do anything wrong/nothing to worry about' attitude? Because from what I read in that article, that ain't what's happening here.

Amazon, Ruby Tuesday, Wal-Mart, Starbucks and Federal Express.

Hmmm which one could it be?

Where can you see hookers at 2:00am?

Where can you see trashy parents cursing at the screaming brats?

Which one of these looks like the inside of a garbage bag?

I know. It's got to be Fed Ex. Yeah.

/Quit shopping at WalMart, it's bad for you anyway. you could consume some of their sh*t meat or get shot in the parking lot or something.