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An important story to assist in everybody's understanding about being targeted for promos: https://www.traveldatadaily.com/hacking-the-american-express-big-data-system-for-your-advantage/
An important story to assist in everybody's understanding about being targeted for promos: https://www.traveldatadaily.com/hacking-the-american-express-big-data-system-for-your-advantage/
It already knows my assessable income. I gave them this information when I applied for their card!
In short, don't listen to what the say they do, listen to what they actually do.Indeed. But people's income often increases over time and many Amex Card-members have had their cards for many years. also some people may have fudged their stated income (yes shock, horror I know...)
Many will also have other forms of income. ie I gain share dividends, but I leave this off my CC applications as I am above the income required and some places will then ask you to substantiate that income despite being well above it.
In addition if say Amex wanted to target people for say its Centurion Card it may well look at such spend patterns, along with other spend.
DISCLAIMER: The article is a USA one and I am not familiar with how their tax system works and how tax is paid.
However how much they would look at that particular source of data I have no idea. But they do mine BigData from a number of sources.
A year ago they had 800 data scientists, and so probably have even more now.
“Big Data is a mindset” concludes Gupta, “we see Big Data as a fundamental driver of the future of American Express”. This is the promise and the ambition of Big Data.
Forbes Welcome
BigData is clearly mined by the banks and Amex including their credit card teams. This can be taken advantage of. ie I have not received Coles Mastercard GC offers in the past apart from the generic ones and so I have just started buying some now with the hope that I will be included in future targeted promotions. If I am it will be dueto the use of BigData.
Its what they try to do, but obviously they fail with some as we have Visa/Amex etc and will use the card tht we perceive the best value. Some gamers of systems (or in this case CC's) are beyond most behavioural nuances.'they are designed to influence your spending behavior, and ensure that Amex is the card you use every time on all transactions.'
Well they failed with me.
Perfect answer here from lovestravellingozQuestioning the credibility of the article when it states:
'Amex knows the merchant is the tax office, and can easily work backward to get a ballpark idea of your assessable income.'
It already knows my assessable income. I gave them this information when I applied for their card!
Indeed. But people's income often increases over time and many Amex Card-members have had their cards for many years. also some people may have fudged their stated income (yes shock, horror I know...)
Many will also have other forms of income. ie I gain share dividends, but I leave this off my CC applications as I am above the income required and some places will then ask you to substantiate that income despite being well above it.
As I know the writer of the article, I'd disagree agree with you there Dr Ralph. He's well known to a number of us here.I call bullsh#t on 95% of the content in this fairy tale
Incorrect, but I'd be thrilled to know how you arrived at that. Written very generally with a wide audience in mind.lovetravellingoz said:DISCLAIMER: The article is a USA one and I am not familiar with how their tax system works and how tax is paid.
An important story to assist in everybody's understanding about being targeted for promos: https://www.traveldatadaily.com/hacking-the-american-express-big-data-system-for-your-advantage/
Having your Toyota serviced by BMW? Really???
Having your Toyota serviced by BMW? Really???
Indeed. ... the author has been a long term member of this site....
As I know the writer of the article, I'd disagree agree with you there Dr Ralph. He's well known to a number of us here. ...
In short, don't listen to what the say they do, listen to what they actually do.
Incorrect, but I'd be thrilled to know how you arrived at that. Written very generally with a wide audience in mind.
"If you get it right – you’ll start receiving monthly gifts, invitation and a host of other exclusive deals which are reserved for Amex’s best customers."
So has anyone on here received anything like the above from Amex? I haven't heard of it before.
If you're truly serious about gaming big data, it doesn't sound far fetched at all...
Can you just buy a minimal item from BMW...ask what their cheapest product is and buy it...
To know, one would have to know what rules etc Amex has in place. And unfortunately these days the rules (using multiple data sources and not just Amex ones) and machine learning they can set up can be very complex making it more difficult to game.
I suspect that better use of BigData has made it harder to game. Up until a couple years ago when Amex was mainly running points promos rather cashbacks, I had a good record of being in most of the good promos.
The Woolworths Everyday Rewards was easy to game and while it ran I averaged over 5QFF points per $ spent (plus credit card earn on top). The new version has been harder, but I am now back to earning some form of points bonus on almost every shop.
An important story to assist in everybody's understanding about being targeted for promos: https://www.traveldatadaily.com/hacking-the-american-express-big-data-system-for-your-advantage/