The idea behind that is not to avoid the temporary (but inevitable) credit score impact but to avoid having
other card issuers see the lowered score when applying for their cards.
They can still be a useful way to
show other card issuers that you can handle credit cards responsibly and pay those cards back on time.
The reality of American Express's anti-steering provision, which prohibits merchants who choose to accept AmEx cards from «steering» their customers to pay for purchases with other cards, is that it is necessary in order for American Express to compete
with other card issuers.
Other card issuers offering broad - based reward platforms are Citi, which steers cardholders into its Thank You program; Discover, which offers its Cashback Bonus program; and the most recent addition to the list, Chase, which introduced its Ultimate Rewards program in June 2009.
Given how skittish creditors have gotten, it's conceivable that this sort of thing could have a ripple effect
as other card issuers might react negatively if / when they see your credit score drop.
Traditionally Citi has had one co-branded partner in each space (e.g one hotel, one airline),
unlike other card issuers with multiple partners in the same space (e.g Chase with Southwest, United & British Airways).
However, in addition to Discover,
many other card issuers are starting to offer the same perk, but only on more prestigious cards that are catered towards frequent travelers and the affluent.
So if you have been denied
by other card issuers, you may still have a chance and can use the Walmart card to help increase your credit rating.
Merrick Bank's cards differ
from other card issuers» products because the Merrick Bank Double Your Line ™ Visa ® Credit Card and the Merrick Bank Visa ® Card are only available to those who have received a preapproved mail offer.
As a company, PayPal receives a tremendous number of user complaints — more so than we've seen
with other card issuers.
The company says that banks and
other card issuers should find that the technology «helps detect and prevent fraud.»
This decrease appears to have come at the cost of market share, as outstanding balances for the issuer dropped more than for
any other card issuer.
They charge slightly lower FX fees than
other card issuers - just 2.7 %.
Credit unions often have interest rates well below those offered by banks or
other card issuers.
Luckily we're not such hungry point - chasers anymore, but if
any other card issuers wan na fill the gap, now's their chance.
Other card issuers have offered this feature for a few years.
As premium cards get more attention from value - seekers,
other card issuers are also entering the super premium card market by offering cards with unusually generous benefits.
Another way of thinking about it is to argue: «Is chase worth more than
all other card issuers combined?»
So if you have been denied by
other card issuers, you may still have a chance and can use the Walmart card to help increase your credit rating.
I do a lot of intentional travel and I have no inclination to give Amex (on
any other card issuer) any more of my cash than I have to — so the card stays in my wallet.
The lounges are a unique perk;
no other card issuer offers access to exclusive, proprietary lounges like Amex.
In most cases,
the other card issuers will have similar MCCs.
If Marriott / SPG throws out some bait to some of
the other card issuers, Citi may try to grab them as they grabbed Costco.
Further, American Express isn't as universally accepted by merchants as
some other card issuers.
And
some other card issuers and frequent - flyer programs do the same, such as Chase (through its Ultimate Rewards portal) and American Airlines AAdvantage.
Other card issuers will dock the rewards you would have earned during the billing period of a missed payment but defer to the airlines regarding miles.
Indeed, rather than demonstrating a classic case of oligopoly, this demonstrates the competitive purpose that the anti-steering provision serves: facilitating competition between American Express and
other card issuers.