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AmEx, Chase Sapphire (split from Global Entry)


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#316 Adrian

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Posted 22 April 2017 - 01:23 AM

lets try this framing:

1. The article is about Amex's declining market share. If this is not an issue, it's a pointless article.

2. The article pins that on millennials millenialing.

3. That seems implausible given the more obvious reason - the primary competitor offers superior economics. An experienced journalist and editor should recognize this and address it.

4. The article does not address that point but Relies on Amex executives who talk coolness.

5. An experienced financial journalist and editor should recognize that executives have a vested interest in portraying the issue as one of culture (which they can compete with) vs. economics (which are harder to combat, but the article actually says the opposite - that culture is the harder ask).

As a practical matter, does anyone here pick a credit card based on anything but economics? Has anyone here ever met anyone who picks a card on anything but economics?

ETA: I should add that none of this is to say that branding and status are irrelevant with a credit card. It's just that it's both much less a concern with cards than other goods and that this is a terrible test case for that premise.

I think you need to interpret what I'm saying in a reasonable way.


#317 Orik

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Posted 22 April 2017 - 02:40 AM

I believe around the time MFF was started, several members from nyc mentioned that they are loyal to Amex as a New York brand, despite inferior economics, limited acceptance, etc.

 

So it's not total bs, but mostly bs.


sandwiches that are large and filling and do not contain tuna or prawns


#318 Adrian

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Posted 22 April 2017 - 02:48 AM

I believe around the time MFF was started, several members from nyc mentioned that they are loyal to Amex as a New York brand, despite inferior economics, limited acceptance, etc.
 
So it's not total bs, but mostly bs.


Probably not millennials tho.

I think you need to interpret what I'm saying in a reasonable way.


#319 Orik

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Posted 22 April 2017 - 03:06 AM

Olds, of course. 


sandwiches that are large and filling and do not contain tuna or prawns


#320 Sneakeater

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Posted 22 April 2017 - 03:07 AM

I don't think millennieals were old enough to get credit cards then.


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#321 hollywood

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Posted 22 April 2017 - 02:25 PM

I find AmEx to be conflicted.  I recall when they used to advertise that you would not want to use the same card you bought fertilizer with to use for fine dining.  Wasn't "Membership makes the difference!" one of their ad themes?  Then, more recently they had a big deal with Costco which yielded a lot of cardholders.  Now, they've let the deal with Costco go to Visa.  What's the goal? Volume?  Prestige members?


Then that happened.


#322 Anthony Bonner

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Posted 22 April 2017 - 02:36 PM

They just got beaten on price on losing Costco.
Why not mayo?

#323 hollywood

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Posted 22 April 2017 - 02:53 PM

Right, but was it worth losing all that volume?


Then that happened.


#324 taion

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Posted 22 April 2017 - 04:06 PM

All else being the same, or at least close, I'd prefer AmEx. They haven't been close for years, though.
I didn't tip at Per Se either.

#325 Anthony Bonner

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Posted 22 April 2017 - 04:14 PM

Right, but was it worth losing all that volume?


By definition it was if you believe amex that the price they wanted was not tenable
Why not mayo?