Originally Posted by
deant
I don't see why AMEX would have an issue with only using the BB for items where you can not use any other credit card. I know that is what I am planning on doing. Pay my property tax, medical insurance etc where no credit cards are accepted. I think the problem would come when you start ATM use and transfers to your checking / savings accounts.
+1
They're position this as a checking alternative. As long as you have a few different outflows a month (pay your credit card bill, even if just in part), a non-chargeable bill (utility or club or something) and one or two other odds and ends, I cannot see anyone being turned off.
Walmart has long wanted to offering checking services, but has been continuously turned down by banking regulators. This is their creative workaround (jointly with Amex).
I've started making odd dollar amount payments on a few of my credit cards from BB. $287.54, $402.11, etc. Just painting a picture of someone who benefits from a low fee account to keep his finances straight.
This NYBanker is "underbanked."
