American Express in the past was known to be the charge card for the exclusive upper class. Amex is now globally recognized as a company that works to help small and medium size businesses and is socially conscience. American Express has been awarded for six years straight as one of Ethisphere Institute’s Most Ethical Companies in the world. However, one of their recent campaigns was “Charge Against Hunger” which has been heavily criticized for spending more money on advertising the initiative than was given to the causes. Another reason that the campaign was criticized was their ad choice of using John Lennon’s “Imagine” song. The Imagine song caused the media to accuse Amex for their shameless advertisement I mean really, “imagine no possessions” in an advertisement installed by a credit card company?! Makes no sense.
Another recent venture is their collaboration with Walmart in creating the Bluebird, a prepaid credit card. After reading multiple cases about Walmart, why would a company who prides themselves as ethical create a new product with Walmart?
And the last topic is the most recent accusation to American Express. In early October, American Express reimbursed $85 million to about 250,000 customers to resolve there recent federal violations. The company duped consumers into paying off stale credit card debt with the promise of improving their credit score. They also discriminated against customers based on age. The federal regulators said that “all violations” aside from the credit discrimination are attributed to deficient management oversight of the bank’s service providers.
Should Amex really deserve the recognition of being an ethical company even though they associate with “unethical” companies and that recently had to dig themselves out of a ditch for their federal violations? Would Amex have reimbursed it’s customers if they weren’t trying to sell their new Bluebird product?