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About LinkBacksWhen American Express had their settlement for anti-trust weren't 8 banks involved in the settlement? I thought there eight (not five) of the major banks were now required to co-issue American Express credit cards. But the only banks that have them are Citi, Bank of America, HSBC, GEMB, USAA. If these are the banks.....Then why hasn't Capital One issued an Amex yet? Or Chase, Wells Fargo, etc. Are they required by the settlement to issue Amex cards or is it only if American Express wants them too?
- Bank of America
- Wells Fargo
- J.P. Morgan Chase
- US Bancorp
- Providian
- USAA
- Household Bank
- Capital One
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Why aren't other credit card companies issuing Amex?
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That's a good question. My guess is the settlement gives Amex the right to require these banks to use their cards, if they want.
Being that Capital One is usually considered a sub-prime card, and many complain about the customer service, American Express probably doesn't want to be associated with them because of it. I'm only guessing but that's what I think.
Chase on the other hand I think is considered a little more upscale, so I don't know why Amex hasn't had them issue cards. I would imagine Amex will require these other banks to issue their cards if the need to increase their customers base due to the credit crunch.Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
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I think Bank of America has a couple American Express cards out now.
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wait which one of hsbc's operations is the sub prime one for credit cards - was it orchard bank or household bank? i don't have hsbc in my area so i can't remember
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Looks like the reason the banks were involved was because at the time Visa/MC were owned by the banks -- before they were spun off -- I guess the agreement says these banks can no longer be prohibited by Visa/MC from issuing Amex cards.
I didn't seeing anything saying these banks MUST issue Amex cards.
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Orchard Bank is the one marketed to people with bad credit and bankruptcy friendly.
Originally Posted by bozell
Yea AMEX probably doesn't do cards with them because that would tarnish so image so yeah I see what you mean about that whole thing.
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This might answer your question.
I received an email today from American Express to take a survey for my business card. I said "sure why not" and am taking it right now. The question I'm on made me think of this post.
To answer your question those are the banks that currently issue their cards.DO YOU OWN AMERICAN EXPRESS CARDS ISSUED BY:
Bank of America/MBNA
Citibank
Juniper (UBS)
GE Money/Capital (Dillard's)
USAA
HSBC (Neiman Marcus)
Sovereign Bank
Other (Please specify):
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Yeah indeed BoA offers now quite a few American Express Cards. More and more banks come up with their own Amex Card however I am not entirely certain if an Amex from Amex is equivalent to an Amex from BoA. Anybody has any experience ? Originally Posted by julestyle
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Why on earth would you want an Amex issued by someone other than Amex? Judging from my experience with Bank of America I bet their Amex has awful customer service too.
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