Iroquois wrote:Fair enough but my point was solely about how B of A appeared to have run their credit card business. They seemed prudent but did not panick from the perspective of this consumer, or others I've spoken with
Yes B of A was in some very deep financial trouble at the time too, which underscores the point of them sticking to the customer focus and staying the course
In contrast, AMEX, became a PR leader in slashing credit and spending lines to consumers and businesses.
From my view the question is about which cards and issuers can be depended on.
Discover card does not seem to be one of those though.
I see what you are saying. NewCreditRules.com
(which attracted huge attention earlier this year but now seems essentially ignored) was caused directly by Amex slashing some innocent man's credit limit, it was certainly a very poor choice of words by Amex: "the stores you shop at mark you as a credit risk." In fact, it is somewhat unnerving just how obsessed they are with our data (a recent WSJ or NYT article suggested that they track what time you login to the website and could imply from you logging late at night that you may be having financial trouble-- a ridiculous conclusion to make without other evidence if you ask me).
I must hand it to Amex, they are doing this to make money and they are doing a damn good job. As long as that is their only purpose (and not world domination), maybe it is ok.