American express… why?

I received yet another unsolicted offer for a credit card yesterday.

Today’s turn is from American Express, where by their amazing good graces I’ve been “pre-approved” for a Gold Card with a A$50,000 limit, and no annual fees, ever.

It looks vaguely tempting – the intersest rate is lower than the card I have at the moment.

Then… thinking… but I don’t pay any interest on my current card because I pay it off in full every month anyhow. And I don’t pay fees on it. And it only has a small credit limit ($2K?) to force me to stay disciplined.

What on earth would I want a credit card with a $50K limit for?

If I were stupid enough to spend that much, there is no magic puddling to pay it off, I’d still be a wage slave for years, even with their 12% interest rate.

I guess these things are attractive to some people, but I think I’ll keep going the boring old-fashioned way and just save up for the (few) things I want rather than using credit.

But that brings up the next questions:

How do these people know my address?

Where did they get it from?

How do they get some idea of my salary to offer me a “pre-approved” card?

How do I make them go away forever?

2 Comments

While their interest rate may be lower, they’re accepted hardly anywhere because their merchant fees are the highest. That and their service is shit house…we use them at work unfortunately.

Comment by tfs | July 30th, 2006 8:07 am | Permalink

I had an American Express card 4 years ago that I never ended up using, and the only charge ever made on it was their annual fee. I never paid it off. They sent me letters and letters for a couple of years, then they gave up. Perhaps they put something on my credit record, but I had no problems getting two home loans after that.

American Express have never sent me any credit card applications since :)

Comment by Daniel | August 1st, 2006 8:30 am | Permalink

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