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- Joined: Sun Jan 26, 2014 2:57 pm
- Location: usa
I wonder how much of this has to do with credit card company's practices and how much has to do with the clientele the issuer services.
For instance, AMEX seems to have a clientele with a higher credit score. I dare suggest AMEX customers are highly likely to pay their bill on time, and thus not get hit with various penalties.
CapOne deals with a good amount of customers who have weak credit. I wonder, then, if CapOne has more late payments, thus applies more penalty APRs and the like, and customers get ticked off at the company when it wants to get paid. Likewise, some CapOne customers may be "new to credit" and thus more likely to screw up because they don't know what to do.
And, in return, the companies may be more likely to treat customers differently. An AMEX customer with a high credit score and a perfect payment history for 10 years pays in full, but two days late. AMEX might be more willing to waive the penalties than CapOne who has a customer with 8 months experience with Cap One, who has a bankruptcy on their report, and who has never paid a single bill in full. AMEX might see its customer as merely having forgotten to pay while CapOne might fear that its customer can't afford to pay (but may still want to run up additional charges on the card....).
I'm not really sure. Anyway, its speculation but interesting.