Amex credit checks

[Dave Noble]

This prompt me to think... Maybe because Amex is somewhat outside the normal banking regulation, they are allow to enquire their business partners for additional details if they deemed appropriate?! Afterall, Amex has the upper bargin hand for the deal. (Eg. No Westpac Amex if Westpac doesn't agree to forward required info when need?)

It will be interesting to know the comments from you guys!

They can do it because it is something which you agree to allow them to do when signing the application form

Dave

 

[Diesellife]

They can do it because it is something which you agree to allow them to do when signing the application form

Dave

I'm not disputing the fact that they can do it... my point is they probably have more channels to do it. Other "banks" seemed don't have much power to gain access to other banks and thus need to rely more on the credit report.

 

[spunkarooney]

I'm not disputing the fact that they can do it... my point is they probably have more channels to do it. Other "banks" seemed don't have much power to gain access to other banks and thus need to rely more on the credit report.

American Express doesn’t have access to “more channels”. No bank has more power than another to obtain your personal information more than you or the law allow.

 

[Diesellife]

American Express doesn’t have access to “more channels”. No bank has more power than another to obtain your personal information more than you or the law allow.

"More channels" is within their power and allowed by law in this case... please see previous posts! They have the power to obtain all your related financial details upon application if they deemed appropriate.

Perhaps I should rephrase it, so it will be clearer. Amex is a very unique entity which differs to Visa/Mastercard, "More Channels" simply means "business relationship" (Again, see my previous post) which can be a unique advantage @ Amex's end...

 

[spunkarooney]

"More channels" is within their power and allowed by law in this case... please see previous posts! They have the power to obtain all your related financial details upon application if they deemed appropriate.

Perhaps I should rephrase it, so it will be clearer. Amex has a very unique entity which differs to Visa/Mastercard, "More Channels" simply means "business relationship" (Again, see my previous post) which can be a unique advantage @ Amex's end...

I think you mangled your position even more.

American Express is in no better position to obtain your financials more than any other Australian bank is. If you have provided consent to a credit provider (it doesn’t matter who that provider is, Amex or other), then they have as much right as each other to get access to that information.

For your information, Visa and MasterCard don’t issue cards – its member financial institutions do.

 

[Diesellife]

If you have provided consent to a credit provider (it doesn’t matter who that provider is, Amex or other), then they have as much right as each other to get access to that information.

I hope you do understand that a right is just a right and provides no additional information to the provider UNLESS they exercise the right. (What if someone lied about their current active cards and balance etc.) To further strengthen the argument, here is another fact.

Amex, on the other hand, has or can access the database on all Amex card holders, whether is DIRECT or INDIRECT issuance. Unless MC/Visa has similar access which I doubt it, then my point stays as it has a better channel to access information!

For your information, Visa and MasterCard don’t issue cards – its member financial institutions do.

Isn't this is what I said up there?

Amex is a very unique entity which differs to Visa/Mastercard

 

[spunkarooney]

I have said all that needs to be said in this thread.

 

[NYCguy]

Interesting article in the New York Times about the results of the data-mining done by Amex et al in the USA.

 

[Evan]

Interesting article in the New York Times about the results of the data-mining done by Amex et al in the USA.

Interesting and what i would call a rather balanced artical compared to what we see in AU.
E

 

[spunkarooney]

Speaking of data mining... This from HSBC Australia’s revised Privacy Statement (effective 1 March 2009) received today:

“3 What happens to my Personal Information?

· to analyse transaction details and transaction history to build peer / individual group profiling to enable a Recipient to compare your account and behaviours with your peer groups;”

Well, I never!

 

[oz_mark]

Consumer Credit Provider - New Listing
Credit Provider: AMEX CREDIT DEPARTMENT
Date of Listing: XX-XX-2003
Application Details: It was reported that a credit account, reference xx_xx_xx_X was opened for you and that you have an ongoing credit relationship with this credit provider.

Got an alert on one of these today from Amex, and looking at my last listing from Veda, they will be joining Diners Club as a current credit provider.

I should really close my Diners account, given I don't use it - but it is free, and I am seeing if I outlast Diners

 

[spunkarooney]

...I am seeing if I outlast Diners

I have no doubt that you will.

I got rid of that useless piece of **** a long time ago.

The only reason I kept it was the customer service. Then Citibank took over Diners in Australia and shipped the customer service overseas.

The fact that these people didn't understand English, and required me to repeat myself for even the most basic requests, necessitated that I cancel the account.

 

[docjames]

I actually wish i'd kept my free diners card for the access to some of the airport lounges.

But i got sick of receiving a $0 "bill" every month.

 

[oz_mark]

I actually wish i'd kept my free diners card for the access to some of the airport lounges.

But i got sick of receiving a $0 "bill" every month.

I don't get the bills each month -just when there is a T&C change.

 

[beardoc]

I actually wish i'd kept my free diners card for the access to some of the airport lounges.

I wish I'd done the same - I ditched it when Ansett went under. I should have kept it for nothing.

 

[oz_mark]

Amex added another two listings onto my credit profile yesterday, one of which was dated in 2000. They must still be working their way through all the cards adding notations to the file.

 

[oz_mark]

Now duplicates are happening. Got two entries last week of the form

Consumer Credit Provider - New Listing
Credit Provider: (Provider)
Date of Listing: XX-MM-YYYY
Application Details: It was reported that a credit account, reference xx_xx_xx_X

where the provider (Amex), date of listing and reference already were listed.

 

[spunkarooney]

Now duplicates are happening. Got two entries last week of the form where the provider (Amex), date of listing and reference already were listed.

Complain direct to Veda Advantage and if you don't receive a response within 30 days refer the matter to the Office of the Federal Privacy Commissioner.

 

[thewinchester]

Complain direct to Veda Advantage and if you don't receive a response within 30 days refer the matter to the Office of the Federal Privacy Commissioner.

Veda Advantage will not touch the request unless you've made reasonable efforts to resolve the issue with the credit provider (about 1/3 way down page).

 

[spunkarooney]

Veda Advantage will not touch the request unless you've made reasonable efforts to resolve the issue with the credit provider (about 1/3 way down page).

Veda would wish that the world worked like that. It is Veda who holds the data, it is Veda who is ultimately responsible.