Speaking engagement brings a pleasant surprise

Yesterday evening I addressed a trade group of executives in the hospitality and travel industry.  The founder of the organization invited me to talk to its members about some of the latest developments in the credit card industry and to offer practical steps that its members can take to improve or maintain their credit in this difficult economy. 

I thought my presentation was boring; I basically talked for forty-five minutes straight.  Everyone was focused on me as if in a trance.  I later found out that audience members were shocked by the information I shared. Every now and then, I saw a face twist, an eyebrow raise, or a head shake from side to side. After my lecture, several people approached me with questions. I stayed for almost two hours answering questions from concerned consumers. Some invited me to come speak at their organizations.  I misinterpreted the audience’s attentiveness for boredom. 

Some of the questions asked were: “Can you explain universal default again?  My bank just closed my account for no activity, so what should I do?  I thought a good utilization rate was 30%, but has that changed?  Are credit repair companies legitimate?”  People were eager and excited to learn as much as they could.  Many didn’t know the basic rules to achieve good credit.   

At the end of the event, I learned that a prominent Delta Airlines executive was present.  He approached the podium and commended my efforts. Coincidentally, one of the of the complaint stories I shared during my lecture was about a woman who tried to purchase an airline ticket at Delta but was declined because American Express cut her line without notifying her.  In short, American Express reduced the line on her Delta American Express card so low that she couldn’t even buy a plane ticket.  I chose horror stories that would resonate with the hospitality industry. Apparently, that was a good move. 

Anyway, I mention that because the Delta Airlines executive just so happened to have an application for the Delta Community Credit Union, one of the best and largest.  He actually went to his car to get the application and gave it to me with the following advice: “Send it to me directly.”  What a great segue to my feature next week on why everyone should join a credit union. 

Comments

[Holly]

Kevin,

Who do we need to contact at Delta? I am assuming "Investor Relations", is that correct?

I contacted Delta Investor Relations and received a phone call back from a representative stating that they have never had any complaints regarding AMEX and believed mine was an isolated incident.

Do you have additional information to provide?

[Thomas]

I too have been sending regular complaints to Delta Airlines about AMEX - the more the partner companies know about how AMEX is conducting itself the better it is for all consumers.

[Kevin D. Johnson]

I am sorry. I didn't record it this time. I'll make sure that next time I do so.

[Kevin D. Johnson]

Delta signed a new contract with American Express during the last quarter of 2008. It was able to get American Express to reimburse them at a higher rate for membership rewards points that are converted to Delta miles.

While getting Delta to rethink their contract is a long shot, at least they were able to get a better contract which will cause American Express to re-price their reserve. American Express could find a way to pass more of this added cost onto customers. Regardless, those unhappy with their Delta American Express card should make sure Delta hears from you.

[Sharon Barlow]

Could/would you film the speech you gave? It would be nice to either see a portion of it on youtube or the whole thing available on a DVD.

[Daniel]

Kevin,

Congrats on the speech...keep up the good work...the little people need a voice. I always find it amazing who is sitting in a crowd.

Daniel

[Dr Robert Lahm]

Hi Kevin,

It can sometimes be hard to "read" an audience (as you know, I am a college entrepreneurship professor, so public speaking is a "regular gig" for me).

One of the most powerful things that we can all do is target affinity card partners. For instance, with Chase, two are Amazon and Disney. Now, step one, so a person might believe, would be to write Amazon or Disney, and point out that Chase might tarnish its brand. Certainly one way of going about it.

However, a real zinger would be to do what you have just accomplished, addressing a group of travel industry executives who in turn make arrangements for conferences and other events that might involve dozens, hundreds, or thousands of guests. Keep up the great work!

[Daniel B.]

We live in a sad world when executives can't even understand basic knowledge of personal credit. And then we wonder why consumer debt is the way it is in America!?!?! LOL!!!!!!

[Holly]

Kevin,

My card was a Delta American Express Platinum card....I am so happy to hear the the Delta executive heard this story. I changed from Delta to American Airlines Mastercard through Citi, so Delta lost me as a customer.

[Kumar]

Arghh!!! It's exactly what happened to me - I have a Delta AMEX Reserve Card - AMEX reduced my credit limit so low, I can't even buy the plane tickets on Delta - and I am paying $450 yearly fee for the AMEX card!!! I recently had to purchase two international tickets to Mumbai/Bombay from New York City and I had to use my mastercard. The credit line reduction will never let AMEX users to reach the awards threshold spending.

[Carole May]

I agree with Aaron! We need a voice to be heard for us out here.

On another note, I joined a credit union yesterday. As a retired teacher (I had to retire for health reasons), I joined the WECU, the educational credit union here in the county of Whatcom in the state of Washington. Once I get my social security check transferred over, it's good bye to WaMu (Chase).

[AARON]

KEV, YOU SHOULD HAVE ASKED FOR A PLANE TICKET TO DC TO VISIT THE POLITICIANS AND THEN GO TO AMEX'S HEADQUARTERS IN NYC TO GET SOME ANSWERS.