Interesting. And hard to square with my perception of banks as completely mercenary and ruthless. I had a decade-long personal boycott (I know, LOL) of Amex after they, because, with otherwise perfect credit, I forgot about a $30 department-store card bill and got a 30-day-late mark on my report, Amex got spooked and abruptly closed both my never-late accounts with them (which were at or close to 0 balances). This was around 2008 though, so perhaps this was a genius algorithm designed to try and detect the very first whiff of consumer defaults, so they assumed that $30 was the first domino to fall of my personal financial ruin that could lead to me charging my accounts to the max and then going bankrupt.
reply(I eventually admitted to myself that Amex isn't a person and thus not really capable of insulting my honor, but it took a while!)
Most banks are completely mercenary and ruthless unless its in their incentives to other outcomes. Incentives lead to outcomes and mostly AMEX's incentives are in being the most trustworthy because their real targets are mostly billionaires/heavily influential people.
replyThis does feel a bit silly for amex to do from what I've heard. Probably 2008 were a weird time in general where trust in systems itself were mostly eroded, whether of people to banking institutions and also vice versa.
> (I eventually admitted to myself that Amex isn't a person and thus not really capable of insulting my honor, but it took a while!)
haha :-)