Will Amex buy a bank?!

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Cucumber
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Will Amex buy a bank?!

Postby Cucumber » Fri Jan 09, 2009 6:54 pm

There was a talking head on some biz show and he said that American Express and Discover will probably buy banks because they are sitting on billions from antitrust settlements and they can use the bank's deposits to fund their credit card business. Any truth to this?! :eek:
OBAMA
Stop talking crap about him!


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Postby Multi-Purpose » Sat Jan 10, 2009 4:59 am

The last thing Amex would want to do is get into running an ol' brick and mortar bank branch offices on the corner block. This is by far a long shot. They are getting plenty of money from the bailout loans right now there's no reason to go to such a drastic length and change their business just to fund their cards.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Jan 12, 2009 3:47 pm

I sure hope they don't buy a bank. Let's face it; a rule of thumb is that when a company gets too big, and too diversified, customer service usually suffers. Now this isn't to say there are companies that do that who still offer good service. But if Amex go so big where it had bank offices, branches, and ATMs to deal with everywhere, I think it's safe to safe the quality of customer service would naturally go down if they had to deal with a whole new version of the company like that.
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.

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Multi-Purpose
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Postby Multi-Purpose » Wed Jan 14, 2009 12:14 am

Customer service would go down not to mention it would tarnish the Amex brand image.

They would be fools to go through with this.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.

-Barack Obama[/font]

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Cucumber
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Postby Cucumber » Fri Jan 16, 2009 1:43 am

Well remember even if they do buy a bank they already were a bank themselves as of Nov
OBAMA
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Postby Kino » Fri Jan 16, 2009 3:02 pm

hey i actually think that would be pretty sweet.

i bet bank of american express would have better customer service than bank of america!!!!



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