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American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Rory
Centurion Member
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Location: MA

Postby Rory » Sun Oct 14, 2012 12:58 pm

UPS Gregg wrote:Oh I'm sure Amex knew exactly what the gap was between their swipe fees and the average purchase amount by their card holders. They must have realized they had enough wiggle room there to risk expanding their Platinum approvals. I just figured they'd stick with approving people with excellent credit scores and histories.

it doesnt matter if they know the important factors because it wont be them terminating contracts with the merchants. The merchants hold most of the power in that negotiation and if them employed some parity building they could possibly force amex to lower its swipe fees based off their sales data which amex cant see.
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Twelfthjoe
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Location: Pittsburgh

Postby Twelfthjoe » Mon Oct 15, 2012 3:19 am

Rory wrote:it doesnt matter if they know the important factors because it wont be them terminating contracts with the merchants. The merchants hold most of the power in that negotiation and if them employed some parity building they could possibly force amex to lower its swipe fees based off their sales data which amex cant see.


I'm not really sure what all the complaining is about. American Express has there requirements for approval and clearly I met them so they approved me for the card. So saying this card is not for me because of the reasons you said may not be correct.

Bobzig
Gold Member
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Location: California

Postby Bobzig » Mon Oct 15, 2012 10:29 am

Hey man, your story was great. Congrats on the card. You wanted it and got it. End of story. Forget what these haters are saying. Enjoy your Platinum dude!
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UPS Gregg
Platinum Member
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Joined: Sun Jan 01, 2012 4:14 pm
Location: Tennessee

Postby UPS Gregg » Mon Oct 15, 2012 4:28 pm

Rory wrote:it doesnt matter if they know the important factors because it wont be them terminating contracts with the merchants. The merchants hold most of the power in that negotiation and if them employed some parity building they could possibly force amex to lower its swipe fees based off their sales data which amex cant see.


They know enough. They definitely know what their current members spend and have a VERY GOOD idea as to how much potential members will spend based on their income and credit score and history. Knowing those factors, along with knowing all about swipe fees, can, and are, determining how loose/tight their memberships requirements are.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

UPS Gregg
Platinum Member
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Postby UPS Gregg » Mon Oct 15, 2012 4:29 pm

Twelfthjoe wrote:I'm not really sure what all the complaining is about. American Express has there requirements for approval and clearly I met them so they approved me for the card. So saying this card is not for me because of the reasons you said may not be correct.


Yeah for real.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Mon Oct 15, 2012 6:41 pm

Twelfthjoe wrote:I'm not really sure what all the complaining is about. American Express has there requirements for approval and clearly I met them so they approved me for the card. So saying this card is not for me because of the reasons you said may not be correct.


The "perception" is that to qualify for a platinum card one would be of considerable assets/income and of a certain lifestyle. I think that due to your low income, which you revealed, some may feel that you don't fall into the socioeconomic status of the typical platinum member.

I say, "Welcome to the club. Membership has privileges." And don't do the spending limit too much or you will get a financial review which may suspend charging privileges. FYI, you should have authorization for up to 20k per day that you can tie to your checking account for cash advances. Your charging should be up to par with that as well.
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FastSRT8
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Postby FastSRT8 » Mon Oct 15, 2012 7:33 pm

LOL! Don't take it too hard out on Rory... I think he is just making a point about IHO the annual fee and the benefits as compared to the annual salary the OP makes. Yes... there are cases (not saying this is) where by people make decisions due to them being fixated on something and then realizing down the road it was an emotional rather than a thought out decision.
Carpe diem quam minimum credula postero!

bryanng
 
Posts: 1
Joined: Mon Oct 22, 2012 11:00 pm
Location: Toronto, Hong Kong

Postby bryanng » Mon Oct 22, 2012 11:05 pm

Thats so exciting that you got the AMEX platinum card! Congrats. Your capital one card is useless in my honest opinion, I am at student with no job and yet somehow I've gotten two visa with a combined credit of five times your limit. I don't know how or why. Now if I only I can get an AMEX in Canada

Abs11
 
Posts: 1
Joined: Sun Jan 06, 2013 4:01 pm
Location: miami

Postby Abs11 » Sun Jan 06, 2013 4:42 pm

hi everybody

I Have been with capital one for almost 2 years and my credit limit is $750. i requested months ago if they could increase my balance and they denied me.
I pay all the debt of my cards last week and and interesting to apply for the BCE.
my exp. score is 724 and my history of payments is perfect.

I will apply next month, I hope they approve



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