AMEX close to bankruptcy

[rchapstick]

My Visa Gold card also offers the free rental car insurance, so nothing special.

 

The key word is PRIMARY, in that it pays out claims before your personal insurance does. Thus, if you have an accident with DC insurance, your insurance company will not find out about it and will not raise your rates.

 

AFIK, other charge card insurance is SECONDARY. So your insurance pays less the deductible, and then they raise your rates. The cc card would only pay your deductible.

 

[allistar]

Usually, car rental insurance covers rental inside the U.S.

[Torneyboy]

Yes ..same here ..sort of an ego thing to have them not many around now either...

[tartempion]

I once had a firm issued Diners Club. Other than airlines & hotels, it was worthless.

 

The only good thing about DC was it gave you primary auto insurance for free on rental cars.

 

In my working days I travelled all over Europe mainly, had both Amex and DC, used DC most of the time, unless exceptionally not accepted (France sometimes, did not bother with "carte bleue" ) Never experienced credit limits and lots of freebies with DC.

 

BTW, I remember France was on the forefront of technology: first country to check VISA credit card with online terminals in ALL shops, pin code, microchip built in, minitel messaging terminal before email existed etc

[The_Munchmaster]

All the captains of industry I used to hang with loved Amex cards....

So presumably you are also a 'captain of industry' (whatever the feck that really means)? So what is a COI doing on Thai360?

 

[USVirgin]

I dunno, but Alf Erickson is known to read this board!

[samak]

Amex is the best on earth , they offer a 24 hours hotline where you get immediate assistance . I love them .

confirm that their service is outstanding.

one time my card was stolen and the next day i could pick up a new one in their offices in Bangkok.

this year my card was copied (in a high end restaurant on MG road in Bangalore) and the other day they alert me by phone and when i returned to Thailand i had a new one sent by courier

 

[Mike Goodtime]

After I looked at this post, I was wondering about the American Express traveler's checks I keep for my Thailand travels, and emergencies.

 

I called American Express, and they said, American Express traveler's checks are managed by an account that will not be affected by an American Express bankruptcy.

 

Yet, if there is even a sliver of news of American Express heading for bankruptcy, I will be cashing in my traveler's checks ASAP.

[Steve]

Our company gave us all a $100 AmericanExpress gift card. I'm going to use it to buy a $100 travelers check and cash it asap.

[JJsushi]

I know they won't be getting any more of my money.

I had it out with them just before I came over here. They cut my credit lines a great amount.

I called had a chat and they held firm so I cancelled all my cards with them.

I may not have been big spender with them, but cutting my lines when I never gave them a reason to just frosted my ass.

I say goodbye and good ridence

 

 

Don't take it personal. Due to the credit freeze up Bank/Finance companies have been deleveraging for 2yrs now slashing their consumer credit lines. Their balance sheets have been ravaged.

Credit cards, auto loans, home equity lines of credit have been significantly reduced. Think of it like this, if the banks can't borrow then how are they going to lend u money?

Your former unsecured credit line by Amex was un necessary exposure for them. You probably didn't use the card enough to justify the credit line or after they did a financial review they deemed that your income/debt ratios didn't support the excess credit they extended to u. Providing someone who makes US $50k in income $100k in unsecured credit is lunacy as a biz model. The days of cheap leverage are over, so get used to it and don't take it personal.

Credit is a financial tool; not a right, entitlement or an ego booster.