3 ms·

Their models could be imperfect, but Amex is known for being pickier about their customers. This is not different from other companies, such as the insurer Amic

Their models could be imperfect, but Amex is known for being pickier about their customers. This is not different from other companies, such as the insurer Amica. When in doubt, don't take the customer.

mikepurvis 2y ago
It must be tough being only a credit card and not also a person's bank— there's just way less info to go on about their financial practices.
- inkyoto 2y ago
  The main product of AMEX is not a credit card. It is a charge card which sets them apart from the credit card business and brings a higher yield to AMEX, the business.
  - margalabargala 2y ago
    The main product of AMEX is access to its cardholders. Because they are picky about who receives their card, an amex cardholder is likely to spend more than a cardholder of another network. This is why businesses accept amex despite the much higher merchant fees; the higher spending by the cardholders means that businesses accepting amex tend to come out ahead anyway, by virtue of selling more to amex cardholders.
    - apple4ever 2y ago
      Well it's not perfect because they didn't accept me and I spend a great deal but always pay my debts.
- Havoc 2y ago
  Dunno about others but for me the vast majority of tx do go through the card. But yeah I guess they’re blind to stuff like rent and cash bal on hand.
CoastalCoder 2y ago
I didn't realize Amica is especially picky. But I guess it makes sense. Their customer service and claims handling has been outstanding. That's probably easier with a more trustworthy (or less risky) clientele.
- anthonypasq 2y ago
  my dad has worked there for 35 years, and as far as i know, they only used to operate off referrals, it wasnt even open to the public
  - CoastalCoder 2y ago
    That's how my wife and I got in, years ago. I actually had assumed it was a myth created by their advertising department. Interesting to learn it was (is?) true.
- Havoc 2y ago
  Certainly not as picky as some of the fancy cards but yeah they def reject uni educated people with stable income
mise_en_place 2y ago
Not sure if it's ever been made official, but I'm pretty sure they look to see if your parents or close family have had an existing long term relationship with them. That's how I was able to qualify for Platinum, even though my credit score wasn't the greatest at the time.
- Havoc 2y ago
  They definitely look at corporate cards. I got a personal one with literally zero credit history or even 1st world financial paper trail. Except for a bottom tier corporate card with rather light sporadic use. That was apparently enough substance

mikepurvis 2y ago

It must be tough being only a credit card and not also a person's bank— there's just way less info to go on about their financial practices.

inkyoto 2y ago
The main product of AMEX is not a credit card. It is a charge card which sets them apart from the credit card business and brings a higher yield to AMEX, the business.
- margalabargala 2y ago
  The main product of AMEX is access to its cardholders. Because they are picky about who receives their card, an amex cardholder is likely to spend more than a cardholder of another network. This is why businesses accept amex despite the much higher merchant fees; the higher spending by the cardholders means that businesses accepting amex tend to come out ahead anyway, by virtue of selling more to amex cardholders.
  - apple4ever 2y ago
    Well it's not perfect because they didn't accept me and I spend a great deal but always pay my debts.
Havoc 2y ago
Dunno about others but for me the vast majority of tx do go through the card. But yeah I guess they’re blind to stuff like rent and cash bal on hand.

CoastalCoder 2y ago

I didn't realize Amica is especially picky. But I guess it makes sense. Their customer service and claims handling has been outstanding. That's probably easier with a more trustworthy (or less risky) clientele.

anthonypasq 2y ago
my dad has worked there for 35 years, and as far as i know, they only used to operate off referrals, it wasnt even open to the public
- CoastalCoder 2y ago
  That's how my wife and I got in, years ago. I actually had assumed it was a myth created by their advertising department. Interesting to learn it was (is?) true.
Havoc 2y ago
Certainly not as picky as some of the fancy cards but yeah they def reject uni educated people with stable income

mise_en_place 2y ago

Not sure if it's ever been made official, but I'm pretty sure they look to see if your parents or close family have had an existing long term relationship with them. That's how I was able to qualify for Platinum, even though my credit score wasn't the greatest at the time.

Havoc 2y ago
They definitely look at corporate cards. I got a personal one with literally zero credit history or even 1st world financial paper trail. Except for a bottom tier corporate card with rather light sporadic use. That was apparently enough substance