American Express employees have been blamed for aggressively selling their AmEx cards to owners of small businesses. Recently, the Wall Street Journal reported that AmEx employees took the low road to boost the sign-up for its cards by forcing owners of small businesses to opt for AmEx cards.
It is reported that AmEx employees went as far as checking credit scores of customers without their prior permission. On finding a satisfactory credit score, they issued cards to customers even when they did not want one. In addition, they misquoted the annual charges and rewards schemes attached to the cards in order to increase sales.
Some business owners have complained that they received bills for AmEx cards, even though they had not given their consent to sign up for the cards. Only when the aggrieved parties raised a concern with the Company were their cards cancelled.
Many of these small business owners were frequent shoppers at Costco. They were not only frequent visitors at the wholesale chain’s outlets but also its high-value shoppers. AmEx employees targeted this cohort and lured them by overstating the benefits attached to AmEx cards with respect to their partnerships with airport lounges.
Apparently, the BFSI sector is facing disruption, and banks are finding it onerous to keep their businesses profitable. In an attempt to increase sales, AmEx employees seem to have taken the aggressive path.