The video discusses the psychological significance of 'member since' dates on American Express cards. It highlights a common scenario where customers upgrading their cards (e.g., from Gold to Platinum) receive a new card with a 'member since' date reflecting the upgrade, rather than their original joining date. This often leads to customer complaints, with over 50% demanding the reinstatement of their original, earlier 'member since' date. The underlying reason for these complaints is the perceived value customers place on the length of their relationship with a company. This behavior is further illustrated by comparing it to customer complaints to utility companies, where many letters begin by emphasizing the duration of their customer loyalty.

Financian

American Express card. Occasionally, American Express issues a card which says "Member Since '14." Because someone upgrades from gold to platinum, they get a card that says "Member Since '14." And they go, "Hold on a second. On my gold card, it said, you know, Member Since '97."

More than 50% of people ring up and complain and demand the old dates reinstated, even though it has no actual significance. Because they feel that the length of a relationship really, really should count.

If you look at people who complain to utilities, a significant number of the letters of complaint start with, "I have been a customer of yours for X years."

Why AMEX Customers Fight To Keep Their “Member Since” Date

American Express card, occasionally
American Express issues a card which
says member since '14. Because someone
upgrades from gold to platinum, they get
a card that says member since '14. And
they go, "Hold on a second. On my gold
card, it said, you know, member since
'97." More than 50% of people ring up
and complain and demand the old dates
reinstated, even though it has no actual
significance. Because they feel that the
length of a relationship really, really
should count. If you look at people who
complain to utilities, a significant
number of the letters of complaint start
with, "I have been a customer of yours
for X years."

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Why AMEX Customers Fight To Keep Their “Member Since” Date

Transcription