Capital One and American Express
December 9th, 2007 at 12:11 am (Uncategorized, Bank Accounts, Mortgages, Credit Cards, Collection Agencies, Financing)
There are some companies that issues credit cards to people who has bad credit record or no record at all. That sometimes results in multiple over-limit or late payment charges. Consumers consider this practice to be predatory. But such companies as Capital One and American Express do not agree with the statement. They say they are not responsible for their customers’ decisions.
Capital One. Capital One Financial Corporation is one of the largest bank-holding companies in the US. This very firm was founded to one of the first companies that had started a mass marketing of credit cards in the beginning of 90s. Capital One issues cards to those who has a poor credit record or just some financial difficulties, so to say subprime customer base. The company has even won a special prize for the innovations Capital One has introduced in the credit cards productions. Capital One even has its offices opened in Canada, Great Britain and Spain. The company provides credit cards with low credit limits to the customers with whom they can run a risk to have numerous over-limits and late payments. But very often they causes those late payment themselves, just failing to post the payment. And thus they create even more problems to their already problematic customers.
American Express. American Express is widely recognizable company that specializes in issuing credit cards, charge cards and traveler’s cheques. Company’s first credit card was issued in 1950 and since then American Express understood that it is a real possibility in credit card business. Today the company offer a great set of different credit cards: Blue, Red, Green, Clear, Gold, Platinum. Even though it is one of the most trusted and reliable companies ever, they still happen to have problems with their customers. Sometimes they just fail to deliver good customer service when their customers have some problems with credit cards. But usually American Express sticks to its rules and promises to help their customers to solve any problems.