Tuesday, February 3, 2009

AMEX is Watching

I still love you AMEX!So we all know credit card companies are lowering the rates of users they deem unlikely to provide prompt payment.

The NY Times posted a story trying to make my beloved AMEX seem like bad guys for employing good business tactics:

As technological advances give banks better tools and exponentially more information on who their customers are and what they do all day, they no longer have to wait long to tweak their formulas. Source

Instead of tweaking away deadbeats AMEX needs to concern itself with how much they charge merchants. My cards are constantly shot down by savvy business owners who don't want to pay their higher rates.


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