AMEX doing "mass" shutdowns.
Nov 7, 2019, 8:59 pm
#106
Join Date: Jul 2010
Posts: 1,224
Saw that...but I just can't comprehend why they would need machine learning to figure out who their profitable and unprofitable users are...I guess its possible but that seems pretty over-kill (not to mention they had to have had an idea on user acquisition and retention cost prior to this whole event)
As for motive as to post something so long and elaborate: worthless internet points?
As for motive as to post something so long and elaborate: worthless internet points?
Last edited by mia; Nov 8, 2019 at 3:35 am Reason: Prune quotation
Nov 7, 2019, 9:43 pm
#108
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I feel like "machine learning" is just the buzzword of the last year or two. I hear it so much at work, I'm like guys, this is no different than what we did before this term was invented. But whatever.
Nov 8, 2019, 1:46 am
#109
Join Date: Feb 2012
Posts: 4,477
1. The entire "long and elaborate" post will be quoted verbatim over and over, becoming "trending". And if google says so, then it must be true.
2. The sheer volume of nonsense will displace useful and actionable info. When it becomes more difficult for service users to communicate, this automatically benefits service providers.
2. The sheer volume of nonsense will displace useful and actionable info. When it becomes more difficult for service users to communicate, this automatically benefits service providers.
Nov 8, 2019, 3:01 am
#110
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over the 12-month period).
Nov 8, 2019, 4:16 am
#111
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Yeah, American Express, a credit card company, doesn’t want its customers to pay interest on balances or pay new annual fees 
Nov 8, 2019, 5:39 am
#113
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And Amex is clearly hooked to annual membership fees and been hiking them up substantially since they haven’t been able to get enough just with their lending activities via credit cards. It’s a publicly-traded company under normal pressure to deliver revenue and earnings growth. It’s also a company that wants to manage what kind of customers it has, and that means getting rid of some at times, even if it means losing a sliver of revenue ... an immaterial amount of revenue for a company its size.
Nov 8, 2019, 5:43 am
#114
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Of course it does. The POT move and promotions on the “charge” cards were designed to increase and diversify revenue streams for it.
And Amex is clearly hooked to annual membership fees and been hiking them up substantially since they haven’t been able to get enough just with their lending activities via credit cards. It’s a publicly-traded company under normal pressure to deliver revenue and earnings growth.
And Amex is clearly hooked to annual membership fees and been hiking them up substantially since they haven’t been able to get enough just with their lending activities via credit cards. It’s a publicly-traded company under normal pressure to deliver revenue and earnings growth.
thr “RAT” that carrying a balance and applying for new cards would lead to shutdowns
I’m curious on how credit agencies will treat Amex charge cards going forward. My Amex Gold has a fairly large POT limit I was given at approval, and a lower interest rate than some of my other cards. I wouldn’t be surprised if many Green and Gold cardholders carry balances right off the bat. Yet these cards still don’t factor in utilization for credit agencies
Nov 8, 2019, 10:58 am
#115
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What I don't understand with this long extract is why give out that much details on the RAT team or whatever. 2 engineers full time and 2 others with shared duties? Well ok, now we know it's a couple of guys with algorithms that have "learning" abilities. Great. Is that a way to say hey, I work at AMEX or know someone there, who knows something on that topic so trust me?
Nov 8, 2019, 3:27 pm
#118
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i dont think the comment was BS at all because its something a company like amex would do or planning to do or already have done. what if someone told you WF employees had created millions of unauthorized accounts? no way. not a highly regulated bank. impossible. fake news.
Nov 8, 2019, 3:32 pm
#119
Join Date: Mar 2012
Posts: 55
its always interesting and funny to watch human behavior when potentially beneficial comments are shared. its typically met with total disbelief and hater talk as if someone made a extreme political or religious comment. if one doesnt believe it, then operate as normal. however, whats if its true? then what would we do differently or mitigate such risks if it became true?
i dont think the comment was BS at all because its something a company like amex would do or planning to do or already have done. what if someone told you WF employees had created millions of unauthorized accounts? no way. not a highly regulated bank. impossible. fake news.
i dont think the comment was BS at all because its something a company like amex would do or planning to do or already have done. what if someone told you WF employees had created millions of unauthorized accounts? no way. not a highly regulated bank. impossible. fake news.
Nov 8, 2019, 3:37 pm
#120
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its always interesting and funny to watch human behavior when potentially beneficial comments are shared. its typically met with total disbelief and hater talk as if someone made a extreme political or religious comment. if one doesnt believe it, then operate as normal. however, whats if its true? then what would we do differently or mitigate such risks if it became true?
i dont think the comment was BS at all because its something a company like amex would do or planning to do or already have done. what if someone told you WF employees had created millions of unauthorized accounts? no way. not a highly regulated bank. impossible. fake news.
i dont think the comment was BS at all because its something a company like amex would do or planning to do or already have done. what if someone told you WF employees had created millions of unauthorized accounts? no way. not a highly regulated bank. impossible. fake news.
i can write up something like this about the Chase shutdowns (and they are happening a lot more) with public known facts and speculation mixed .... still doesn’t mean I know what I am talking about.
8 people reported to DoC that they were shut down, panic is being peddled, a “whistleblower” appears saying it is much bigger ..... hysteria