Amex & Cap One Defaults Rise

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
4 posts
User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Amex & Cap One Defaults Rise

Postby Mogul of Pineapples » Thu Apr 16, 2009 1:38 am

According to a couple Reuters press releases that came out today, the latest report default rates (for the month of March) raised slightly at both American Express and Capital One. At Amex it rose from 8.6% to 8.8%. But it sounds like they are slowing because the rate of accounts 30 days late actually decreased from 5.3% to 5.1%. Does that mean we have seen the worst of it?
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


AnthonyBarone
Centurion Member
Centurion Member
 
Posts: 123
Joined: Thu Apr 17, 2008 2:04 pm
Location: White Plains, NY

Postby AnthonyBarone » Thu Apr 16, 2009 2:36 pm

How the heck did Amex end up with a default rate higher than Crap One?

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

Postby Floppster » Sun May 31, 2009 9:54 am

AnthonyBarone wrote:How the heck did Amex end up with a default rate higher than Crap One?


I believe that Crap One has a larger amount of their CC Holders than Amex does so 5% of 10 Million are still more than 8% of 1 Million. I hate Crap One so I canceled my Crap One over a year ago while I love Amex :D .... and I am not going to cancel them
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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 Jun 01, 2009 2:04 am

I haven't heard much in the financial news about Crap One lately. How is it that they are still holding up okay when they have the riskiest lenders? You don't hear much about them having problems.
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



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests