Why aren't other credit card companies issuing Amex?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
9 posts
1bootcamp
Centurion Member
Centurion Member
 
Posts: 103
Joined: Wed Apr 16, 2008 2:07 pm
Location: Big Island, Hawaii

Why aren't other credit card companies issuing Amex?

Postby 1bootcamp » Sun Aug 17, 2008 6:15 pm

When American Express had their settlement for anti-trust weren't 8 banks involved in the settlement? I thought there eight (not five) of the major banks were now required to co-issue American Express credit cards. But the only banks that have them are Citi, Bank of America, HSBC, GEMB, USAA. If these are the banks.....

  • Bank of America
  • Wells Fargo
  • J.P. Morgan Chase
  • US Bancorp
  • Providian
  • USAA
  • Household Bank
  • Capital One
Then why hasn't Capital One issued an Amex yet? Or Chase, Wells Fargo, etc. Are they required by the settlement to issue Amex cards or is it only if American Express wants them too?


User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Mon Aug 18, 2008 8:41 pm

That's a good question. My guess is the settlement gives Amex the right to require these banks to use their cards, if they want.

Being that Capital One is usually considered a sub-prime card, and many complain about the customer service, American Express probably doesn't want to be associated with them because of it. I'm only guessing but that's what I think.

Chase on the other hand I think is considered a little more upscale, so I don't know why Amex hasn't had them issue cards. I would imagine Amex will require these other banks to issue their cards if the need to increase their customers base due to the credit crunch.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

julestyle
Green Member
Green Member
 
Posts: 3
Joined: Thu Aug 14, 2008 10:24 pm
Location: Oregon

Postby julestyle » Wed Aug 20, 2008 11:40 pm

I think Bank of America has a couple American Express cards out now.

bozell
Platinum Member
Platinum Member
 
Posts: 56
Joined: Mon Jun 30, 2008 9:46 pm
Location: c-town

Postby bozell » Fri Aug 22, 2008 2:30 am

wait which one of hsbc's operations is the sub prime one for credit cards - was it orchard bank or household bank? i don't have hsbc in my area so i can't remember

User avatar
Cucumber
Centurion Member
Centurion Member
 
Posts: 567
Joined: Tue Apr 22, 2008 12:44 am
Location: Zuma

Postby Cucumber » Sat Aug 23, 2008 3:38 am

Looks like the reason the banks were involved was because at the time Visa/MC were owned by the banks -- before they were spun off -- I guess the agreement says these banks can no longer be prohibited by Visa/MC from issuing Amex cards.

I didn't seeing anything saying these banks MUST issue Amex cards.
OBAMA
Stop talking crap about him!

1bootcamp
Centurion Member
Centurion Member
 
Posts: 103
Joined: Wed Apr 16, 2008 2:07 pm
Location: Big Island, Hawaii

Postby 1bootcamp » Wed Sep 03, 2008 2:03 am

bozell wrote:wait which one of hsbc's operations is the sub prime one for credit cards - was it orchard bank or household bank? i don't have hsbc in my area so i can't remember


Orchard Bank is the one marketed to people with bad credit and bankruptcy friendly.

Yea AMEX probably doesn't do cards with them because that would tarnish so image so yeah I see what you mean about that whole thing.

User avatar
fffresh
Centurion Member
Centurion Member
 
Posts: 416
Joined: Sat Apr 26, 2008 9:12 pm
Location: the edge of the world

Postby fffresh » Tue Sep 09, 2008 7:02 pm

This might answer your question.

I received an email today from American Express to take a survey for my business card. I said "sure why not" and am taking it right now. The question I'm on made me think of this post.

DO YOU OWN AMERICAN EXPRESS CARDS ISSUED BY:
Bank of America/MBNA

Citibank

Juniper (UBS)

GE Money/Capital (Dillard's)

USAA

HSBC (Neiman Marcus)

Sovereign Bank

Other (Please specify):



To answer your question those are the banks that currently issue their cards.

Floppster
Centurion Member
Centurion Member
 
Posts: 157
Joined: Mon Sep 29, 2008 8:51 pm
Website: http://www.flyerboxx.com
Location: US

Postby Floppster » Mon Sep 29, 2008 9:04 pm

julestyle wrote:I think Bank of America has a couple American Express cards out now.


Yeah indeed BoA offers now quite a few American Express Cards. More and more banks come up with their own Amex Card however I am not entirely certain if an Amex from Amex is equivalent to an Amex from BoA. Anybody has any experience ?
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

Roni
Gold Member
Gold Member
 
Posts: 25
Joined: Sat Apr 19, 2008 3:40 am
Location: Indiana

Postby Roni » Mon Nov 24, 2008 1:39 pm

Why on earth would you want an Amex issued by someone other than Amex? Judging from my experience with Bank of America I bet their Amex has awful customer service too.



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests